Debt Consolidation: Tallahassee Residents Have Options Available

August 3, 2022

Tallahassee is the capital city of Florida. And as you might expect, it’s full of wonderful sights to see and places to visit. History buffs enjoy the Historic Capitol Museum and the Museum of Florida History; while fans of nightlife appreciate local music, a burgeoning brewery scene, and college tailgates. Yes, Tallahassee is a college town with a student population of more than 70,000 thanks to Florida State University and Florida A&M University, as well as several community colleges. But it’s also known as one of the top places for retirees. It seems that Tallahassee, Florida has something to offer everyone who lives there.

But not matter what stage of life you are in; financial troubles can find you. If you are living in Tallahassee under the cloud of excessive debt, don’t give up hope. There are debt relief solutions available to set things right.

In Debt? You Have Options

Tallahassee residents might be surprised to learn there are a variety of debt relief options at their disposal. Below we will cover a few of the most common services and programs, but if you really want to learn what is best for your needs, it’s helpful to talk to a debt expert.

Call 800-910-0065 to speak with someone ready to hear your situation and happy to help find you the best options for your needs.

Debt Consolidation in Tallahassee

Debt consolidation is a popular option for debtors with more than $10,000 in the red. Why? Because it simplifies the repayment process. If you owe multiple creditors, you may feel like you are scrambling to keep up. This is where debt consolidation can help. Instead of paying various creditors for credit card dues, medical bills, personal loans and the like, you simply take out a single loan to cover your debt. You then make payments to a single debt consolidation lender. You may even be able to find better interest rates or more amicable repayment terms than you had before.

Of course, there are downsides to debt consolidation just as there are for any other loan. If you fail to make timely payments, you could risk your credit score or assets (depending on the type of loan you agreed to). However, it can be an important aid for those who need it.

Other Debt Relief Opportunities

Even if debt consolidation doesn’t match you needs, there are a variety of viable debt relief solutions available to you. Below are just a handful of examples.

Credit CounsellingWhen you just need a little extra assistance investigating your personal finances, credit counseling is here to help. As experts in personal finance, credit counselors review your current situation, help you set a budget, and point you in the first of other services to help you conquer your debt. It’s a free and simple service that assists people like you, every day.
Debt ManagementIf you are struggling to eliminate your debt on your own, debt management can help. Some people are under the false impression that paying the minimum amount owed on their debt is enough to get them out of debt. Unfortunately, this strategy can take a long time and can cost you more in the long run. Debt management, on the other hand, assist debtors with creating a plan to pay down their debt in according to their abilities and goals. It’s a smart strategy to getting out of debt in a reasonable amount of time, without putting too much stress on your personal finances.
Debt SettlementWant to pay off your debt but the total is just too high? Debt settlement might be your ticket. The process, also known as debt forgiveness, occurs when a mediating company – like Freedom Debt Relief – negotiates with creditors to wave a portion of your debt. You will still be responsible for the remainder of what is owed, but it should be much easier to pay down; especially if your secure a better interest rate or longer payment terms, based on your circumstances. Note that the IRS deems “forgiven” or settled debt as a form of income, thus you will have to pay taxes on that money.
BankruptcyDespite being positioned as a “fresh start”, bankruptcy can inflict lasting damage on your credit score. So why do people declare bankruptcy? If your credit card, medical or personal loan debt is excessively large, bankruptcy can be a viable solution. However, you should know that Chapter 7 bankruptcy typically requires debtors to liquidate their assets (such as a home or car) in order to pay off money owed. Chapter 13 bankruptcy is different, in that it allows debtors to keep their assets in exchange for ongoing payments to creditors. If you absolutely must resort to bankruptcy to ease your debt, be sure to choose the right kind for your situation.

Finding the Right Option for Your Unique Situation

Are you ready to find the right debt relief option for your unique financial situation? Help is just a phone call away. Call 800-910-0065 to discuss your options with a debt relief expert today. The call is free, and the advice is invaluable. That’s why Freedom Debt Relief has resolved over $9 billion in debt since 2002.