If you wish to get rid of multiple bill payments in Pennsylvania, you should go for Pennsylvania debt consolidation. This process helps to lower your monthly payments thereby saving you money on interest rates and late fees. With Pennsylvania debt consolidation, you can get rid of harassing phone calls from creditors and work your way out of debt without even filing bankruptcy.
How Pennsylvania debt consolidation program works
If you have a job and you can carry on with your bill payments, at a lower interest rate, then consolidation may be the right option for you. When you enroll in a consolidation program, the consolidator does an income-expenditure analysis and helps you prepare a budget. The purpose is to figure out how much you save each month to make payments towards your bills. Based on what you can pay, the consolidator works with creditors so as to reduce your interest rates and penalty charges. If you have accounts in collection, your consolidator may be able to negotiate those accounts as well.
How Pennsylvania debt consolidation loan works
This is an unsecured loan which enables you to pay back your bills with one large payment that will leave you with only the consolidation loan to repay Learn more...
Debt consolidation Clarion programs and fees
Consolidation programs available in Clarion are similar to those offered in the rest of Pennsylvania. Of course the fees charged by companies in Clarion and other cities in Pennsylvania may be different. But the upfront fee charged by a consolidation company is capped by each state. So, if you feel that you've been charged more than what you should be paying, you should report it to the State Attorney General. The address of the Pennsylvania State Attorney General is:
Pennsylvania Office of Attorney General
16th Floor, Strawberry Square
Harrisburg, PA 17120
4 Things you shouldn't do when you consolidate bills
Take a look at the 4 things you should avoid doing while you're consolidating your bills.
- Dealing with the wrong company: When you look out for a debt consolidation Clarion company, you need to check their legitimacy and reputation. Check out their records available from the website of the Better Business Bureau. Read reviews about the company from other websites. Verify that the company has never been through a lawsuit and/or does not have any pending cases against it.
It is better to avoid dealing with companies that send mailers promising to erase your debt within a short time span. These companies may charge you high fees and not send your payments to your creditors on time. You may simply end up getting a charge-off (from your creditors) that will have a negative impact on your credit score.
- Not asking questions about their services: Whether you go for a consolidation program or loan, you should ask questions about the services the company/lender offers. You need to ask how long it'll take you to pay off your debts and how much they believe you'll save by consolidating.
- Not concerned about hidden costs: When you take out a consolidation loan, make sure you're not charged any hidden fees. Read the fine print and try to learn which services (loan processing and related services) you're paying for. If you get good loan terms from the lender, take time to learn where you're putting your money. Just don't sign on a deal without looking at the documents in detail.
- Adding on to your debts: Do not apply for new credit/loans and increase the amount you owe. Avoid making small purchases with your credit cards as it can make your situation worse. While you stop adding to your debt, try to control your expenses as well.
FAQ on debt consolidation Clarion and Pennsylvania
Q: I have around 10 payday loans in Pennsylvania. I just can't manage them. It's so embarrassing. I'd like to get rid of these, so if you can suggest an option, it'll be helpful indeed!!
Ans: Payday loans (pdls) are declared as illegal in Pennsylvania. But even then, if a lender is licensed in any state other than Pennsylvania, you need to follow the laws of that particular state. So, if you have taken pdls from licensed lenders, you may go for a Pennsylvania debt consolidation program and merge your bill payments into one monthly installment. However, you don't need to pay interest on the pdls that are offered by lenders who aren't licensed. Learn more....
Q: I have accumulated a lot of debts including credit cards, pdls, and medical bills. Some of my creditors are threatening to file a judgment against me. I'd like to know the SOL for enforcing judgment in Pennsylvania. I'm in Clarion.
Ans: The SOL for enforcing judgment in Pennsylvania is 4 years from the date of default. Once the SOL has expired, the creditor may not sue you. If you agree to a new payment plan, the SOL will restart if you default. However, if the SOL hasn't, then you should try to pay down your debts. First, you should deal with any internet payday loans you have, and then investigate a Pittsburgh debt consolidation program. This kind of program will help you to merge multiple bill payments into a single payment per month. Learn more...
Q: I have a lot of credit card debts and wish to get rid of them fast. If a judgment is filed against me, can the creditors take away my personal/real property? I reside in Clarion.
Ans: Creditors may seize your property if they have a court order. Only a mortgage lender may seize your home, but a creditor may place a lien on the property. Your personal property may be seized unless Pennsylvania exempts that property from seizure.
A judgment has a negative impact on your credit report and minimizes your chances of getting new credit in near future. So, it is essential that you negotiate an alternative payment plan with your creditors and avoid letting them get a judgment. If you are worried about your ability to negotiate on your own, you should look for a suitable debt consolidation Clarion company to work with your creditors on your behalf.
What options are available other than consolidation?
Other than a consolidation program or loan, there are Pennsylvania debt settlement programs that allow you to get rid of debt by paying much less than the amount you owe. Under this kind of program, you enroll with a settlement company that communicates with creditors on your behalf so that they accept a lower payment from you. Pennsylvania debt settlement programs can help you pay much less than the outstanding balance you owe.