Louisiana debt consolidation: How to get rid of bills in New Orleans

If you're unable to fulfill your monthly obligations in Louisiana and you're getting deeper into debt each month, you should consider going for a Louisiana debt consolidation program. Through consolidation, you can lower your monthly payments and late fees, get rid of creditor/collection calls, and clear your debts faster.

What are the basics of Louisiana debt consolidation?

When you're struggling to maintain payments on your unsecured bills such as credit cards, personal loans, overdrafts, etc., you may be able to consolidate them with the help of a consolidation program or loan.

Whether you go for a program or loan, the first step is finding out how much you can put towards your bill payment each month. You need to calculate how much is required to pay down your rent/mortgage, food, utility bills and taxes. If you deduct this amount from your monthly income, you'll get your disposable income. If your disposable income is large enough for you to repay your bills at low interest rates, you'll be able to use a consolidation program and get rid of your debts.

Here's how a consolidation program works

When you enroll in a Louisiana consolidation program, you don't have to deal with your creditors any more. You'll make a single monthly payment to the Louisiana consolidation company which will divide and send in those payments to your individual creditors. So, you can get relief from the stress of managing several bills at variable interest rate. Learn more...

Other than enrolling in a program, you can take out a Louisiana debt consolidation loan that will enable you to pay back your debts in a single large payment. This leaves you with only the consolidation loan to be repaid at a lower interest rate.

Are consolidation program and loans available in New Orleans?

Yes, consolidation program and loans are available in New Orleans. There are New Orleans consolidation companies offering relief programs to help consumers deal with unpaid bills like credit cards, medical bills, utility bills, store cards, etc. The consolidation programs available in New Orleans work the same way as the programs offered by any other Louisiana consolidation company. Louisiana has set a cap on upfront fees so that consolidation companies cannot scam consumers by charging a lot of money and not following through on their promises.

State of Louisiana (LA)

Avg credit card debt: $5,100
Delinquency rate on (credit card): 2.13%

Mortgage debt: $137,855
Delinquency rate on (Mortgage): 3.08%

Auto loan debt: $21,678
Delinquency rate on (Auto loan): 2.41%

Unsecured personal loan debt: $10,001
Delinquency rate on
(Unsecured personal loan): 4.84%

Payday loan laws >>

Case study

Scenario"Hello,
I'm seeking ways to remove inquiries. I've requested my creditors in writing to provide me with all the documentation citing hard pull for permissible purpose on my credit report. Few of them have asked me to call them, as according to them, I haven't supplied sufficient information against my letter. But, my original letter was sent with all the necessary data to the address cited for the pull. What do I do next? What letter should I shoot them now? Will I have to call them or send another written request as they didn't oblige with my request? Thank you in advance. "

Solution "First, are those inquiries legally reported on your credit report? Do you approve them? If your answer is yes, then hard pulls will stay on your credit report for 2 years, but they won't affect your score after 12 months.
However, if those inquiries aren't legal and you disapprove them, then get in touch with your creditors and find out what they are saying regarding your inquiries. Document every conversation with them, be it via Email, telephone or registered mail. Second, if you find anything amiss from your end, make sure you rectify them and do as your creditors have asked. If after all this, they fail to remove inquiries from your credit report, then you may send a letter (https://community.debtcc.com/letters/sample26.html) disputing account status with the respective credit bureaus and have them removed accordingly.
Lastly, you can work with an attorney to keep yourself on the right side of the law, if things get dirtier. "

How much
you can save
in Louisiana

FAQ on debt consolidation in New Orleans, Louisiana

I have 3 unpaid medical bills. I've been getting collection calls on one of the accounts. I'd like to clear these bills before I start getting calls on the other two accounts. Can a New Orleans consolidation program help me get rid of the account in collections?

Ans:Yes, a New Orleans consolidation program can help you pay off the account in collections. It'll also help you repay the other two accounts that are not yet in collections.

If the SOL on the account in collections has expired, send an Expired SOL notification letter to the CA asking them to stop contacting you. If the SOL has expired, the creditor or collection agency will not be able to sue you to recover the debt. Learn more...

I have 7 internet pdls that I can't make payments on. I'm getting harassing phone calls from collection agencies who're threatening to garnish my wages. The unpaid balances they're claiming I owe are quite large. What should I do? I'm in Louisiana.

Ans:Since collection agencies have started calling you, it's time to take some quick steps to clear your debts. What you can do is get enrolled with a Louisiana consolidation company and let a consultant negotiate an alternative payment plan with the CAs. It'll help you prevent wage garnishment and harassment by the CA. Learn more...

Can a credit card company place a lien on my house? I own the property with my spouse but the card account is in my name only. I have other bills as well but they're not in collections, though I have made a couple of late payments. It's getting a bit difficult to maintain the credit card payments along with my other bills. Can New Orleans consolidation help me get out of this situation?

Ans:A credit card company can place a lien on your house provided it gets a judgment from the court. Once it receives the judgment, you'll have to pay off the judgment in order to clear the lien. Because Louisiana is a community property state, your husband owes the debt as well, and the creditor can attach a lien to your joint interest in the house and any other property acquired during the marriage.
A judgment brings down your credit score and makes it harder for you to qualify for new credit. So, try to avoid the judgment and go for debt consolidation in New Orleans where you can combine all your bills and pay them off with one lower monthly payment. Learn more...

What are the other ways to pay off your debts in Louisiana?

Apart from Louisiana debt consolidation, you can try out other options to pay off your bills. Some of the options are explained below.

Louisiana debt settlement

If you're unable to make monthly payments on your bills, you can settle your bills by negotiating with your creditors to forgive a part of the debt. You can settle your bills yourself or else seek professional help by enrolling in a Louisiana debt settlement program.

Self-repayment plan

If you'd like to manage your bills without getting professional assistance, a self repayment plan is what you need. Make sure you're well aware of how much you owe to each creditor and what you can afford to pay each month. Follow the 6 steps in a self repayment plan and resolve your payment problems.

Credit counseling help and advice

You can get help from a credit counseling agency where a counselor will assess your finances and liabilities in order to help you pay down your bills. The counselor will prepare a well-planned budget for you and offer tips on how to deal with multiple bills without defaulting.
If you've racked up a lot of debts, the counseling agency may offer you a DMP - a debt management plan where the counselor negotiates with your creditors and CAs to reduce your interest rates. The counselor may also help you to get rid of excess late fees or penalty charges. This reduces your monthly payments and helps you pay down your debts faster.