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Maryland debt consolidation-How to tackle multiple bills in Baltimore


If you're juggling multiple bills in Maryland and making on-time payments isn't easy, you may consider going for Maryland debt consolidation. With this option, you merge your bill payments into one consolidated payment per month at low interest rate negotiated with a consolidator.

Ways to consolidate your bills in Maryland

There are 3 ways to consolidate bills and get relief from the burden of monthly repayments. Read on to find out how you can consolidate your debts.


  • Consolidation program: Here, you enroll with a Maryland consolidation company that analyzes your personal finances to find out how much you can pay each month.

    The consolidator negotiates with creditors and CAs to decrease your interest rates and creates a plan that can help you repay your bills without incurring late fees and over-limit charges. This kind of plan will protect you from creditor or collection agency harassment. Find out the details...
  • Consolidation loan: This option allows you to pay off your balance on different accounts with a lump sum payment. A consolidation loan is easier to manage because the interest rate and monthly payments are quite low. Learn more...
  • Do it yourself consolidation: This is where you negotiate and consolidate bills on your own. For instance, if you have credit card debt, you may consider transferring the balances from different cards into a low interest card or one with a 0% introductory rate period lasting for 12-15 months. Doing this makes it easier to repay your card balances with no or low interest payments. Find more details from the article on Do it yourself consolidation.

Maryland debt consolidation - Warning signs that you need it

Whether you're in Baltimore or any other city in Maryland, the best time to go for debt consolidation Baltimore or Maryland is when you come across the 7 warning signs below.


  1. You're using your cards for daily items like food/gas.
  2. You've used up your IRA or 401k money to pay off bills.
  3. The unpaid balance on your cards has exceeded the credit limit.
  4. You find it hard to pay the minimum amount on your cards.
  5. Creditors are sending notices about delinquent accounts.
  6. You've charged more than you're paying each month on your cards.
  7. It's getting difficult to keep track of multiple payments at varied interest rates.

6 Benefits of Baltimore and Maryland consolidation

Here's how consolidation helps you get relief from the burden of managing several bills.


  • Interest rates on your bills are lowered so as to reduce your monthly outgoings.
  • Creditors and CAs may stop harassing you with phone calls/letters.
  • You may not have to pay over-limit charges for exceeding your credit card limit.
  • You don't need to keep track of multiple bills and deal with a number of creditors.
  • You can pay off the dues fast and raise your credit score.
  • You don't need to file a bankruptcy.

Risks associated with debt consolidation Baltimore and Maryland

When you're consolidating your bills, there are certain risks you should avoid. The risks are:


  • Companies making false claims: There are consolidation companies that charge a lot of upfront fees and leave you with your debt problems without fulfilling any of the promises they've made. To avoid these companies, comparison shop and check out different company's services and fees.
  • Being a victim of advance-fee fraud: These scams involve a lender promising to offer you a loan in return for an upfront fee. They may also require you to apply for credit insurance. Learn how to avoid online consolidation scams.
  • High interest on a consolidation loan: With a consolidation loan, you'll end up paying a large sum in interest over the entire loan term, even though monthly payments may be quite low. Moreover, if your credit report shows too many negative items, you may find it difficult to qualify at all.

Maryland debt settlement - How it can help you

Maryland settlement programs can help you reduce your outstanding balances. Under this kind of program, a Maryland debt settlement company negotiates with your creditors and collection agencies so that you pay less than the total amount of money you owe. Depending on the amount you owe, you may be able to save a significant percentage of your unpaid balance. However, Maryland settlement companies do ask for upfront and monthly fees as well as a certain percentage of the amount you save through settlement.

FAQ on Maryland debt consolidation and settlement

Q: Can credit card companies place a lien on my home due to unpaid bills? How do I stop them from doing so? I'm in Baltimore.
Ans: Creditors can place a lien on your home if you default on your card payments even though it's an unsecured bill (one which doesn't require collateral, such as your home). The creditor or collection agency must first sue you and get a judgment from the court. The only way you can stop them from doing so is by requesting a hardship program, so that you can keep paying your bills with small monthly repayments. If you have multiple cards, you may consider a Baltimore consolidation program or loan as the solution to your problems. However, if you'd like to have the unpaid balance reduced, you should enroll in a Maryland debt settlement program.


Q: I can't afford the monthly bills on my 3 payday loans. Someone told me payday loans aren't legal in Baltimore, Maryland. Is it so? Can Baltimore consolidation companies help me get out of this problem?
Ans: Payday loans are illegal in Maryland, so you are only required to repay the principal on these loans and not the interest. Thus, you can simply request an alternative repayment plan from your creditors. Getting into a Baltimore consolidation program or loan doesn't seem appropriate in this case.


Q: Can Maryland debt consolidation help me get rid of internet payday loans, so that I don't have to deal with collection agencies? I'm unable to pay the bills each month. I can pay only $700 a month towards the interest. What should I do?
Ans: Yes, depending upon the amount you owe, a Maryland debt consolidation company can help you pay off internet payday loans and save you from harassment by collection agencies. You need to explain how much you can afford to pay the company so that they help you prepare a budget and negotiate with creditors to trim down your interest rates and monthly payments.


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