When you're having financial difficulties in Nevada, you have several options to help you pay your bills and avoid creditor/collection agency harassment. One option is Nevada debt consolidation where multiple bill payments are replaced with a single monthly repayment that's easy to manage.
Nevada debt consolidation program and loan
Whether you're in Las Vegas or any other city in Nevada, you'll come across 2 options to consolidate multiple bills. Below is a brief outline of how each option works:
Option 1: Enroll in a consolidation programConsolidation companies negotiate with your creditors to lower interest rates on credit cards, payday loans, medical bills, and other debts. These companies negotiate lower interest rates with creditors and collection agencies so you can pay off your bills in easy monthly installments. All you have to do is pay a fixed monthly payment to the Nevada debt consolidation company and the company will distribute your payments to the individual creditors. Learn more about a consolidation program.
Option 2: Applying for a consolidation loanIf you'd like to pay your bills with a lump sum payment, you should apply for a personal consolidation loan offered by financial institutions in Las Vegas and other cities in Nevada. Consolidation loans help you pay down your bills in one big installment. After you pay off your bills, you're left with the Nevada debt consolidation loan that requires you to make low monthly payments. Use the calculator below and find out when you'll be able to pay off your bills and how much you'll save by consolidating your bills with a Nevada consolidation loan.
Avg credit card debt: $5,412
Delinquency rate on (credit card): 1.94%
Mortgage debt: $207,353
Delinquency rate on (Mortgage): 2.98%
Auto loan debt: $19,826
Delinquency rate on (Auto loan): 1.25%
Unsecured personal loan debt: $9,507
Delinquency rate on
(Unsecured personal loan): 4.01%
Benefits of consolidation in Las Vegas, Nevada
Consolidation programs and loans offer a number of benefits to those who use them to pay down their bills.
Benefits of consolidation program:
- You can lower interest rates on your bills
- Monthly payments become manageable
- Penalty charges and over-limit fees may be reduced/waived off
- You can eliminate creditor and CA harassment
- You can avoid filing bankruptcy
As you pay off your accounts, your credit score will increase. Learn more about the benefits of consolidation program.
Advantages of a consolidation loan:
- Pay off past due accounts with lump sum cash
- Replace multiple bills with a small monthly repayment
However, one disadvantage of a consolidation loan is that you'll end up paying more in interest over the life of the loan.
How to avoid tricks and traps of Las Vegas, Nevada consolidation
It's essential to learn all the tricks and traps a consolidation firm can use to scam you.
Do not borrow more than you need
Watch out for prepayment penalties
Avoid buying credit protection insurance
Watch out for consolidation fees and loan costs
Second, if you want help with your debt problems or want to deal with your creditors/collection agencies, you can check this out:https://www.debtconsolidationcare.com/contact-us/callback.html for free no-obligation counseling session that would provide you with the basic guidance.
Third, if your creditors/collection agencies harass you for payments at ungodly hours or talk to your neighbors about you or reveal your financial whereabouts to them, then you can sue your debt collectors for FDCPA violations and your creditors. See: https://www.debtconsolidationcare.com/fdcpa.html
you can save
FAQ on Las Vegas, Nevada debt consolidation
Nevada debt settlement - An alternative to consolidating bills
If you don't think you can pay your bills with a Nevada debt consolidation program or loan, you can try to settle your debt. If you don't feel like you can negotiate with them on your own, get help from a Nevada debt settlement company to work out a fair deal with your creditors and CAs. Learn how a settlement program works, before you choose a company to negotiate on your behalf.