Each year, consumer debt is steadily increasing with reports of more than $4 trillion in February 2019 alone.
While a large portion of a household’s debt stems from auto loans, student loans, and mortgages, a bit chunk of it is from credit card debt. Balances carried from month to month are continuously increasing especially if left unmanaged. With an average of $6,929 revolving balances from credit card debt, it is getting harder and harder for American families to pay their creditors.
Factoring mortgages, student loans, and auto loans together with credit card loans, an average U.S. household owes $135,768 in outstanding debt. The ever increasing cost of living, student loans, and steep credit card interests, paying off your debt is a task that you cannot do on your own.
Our Certified Debt Specialists at Optimal Debt Solutions understand the struggles and frustrations of managing such debt. Let us help you begin a new life by participating in our free debt evaluation so you can finally pave your way to financial freedom. Our debt relief company is committed to helping Jacksonville residents lead a better life.
Call Optimal Debt Solutions today at (561) 475-5788 for your Free Evaluation!
Money Management with Debt Consolidation
Managing the many bills that you receive each month can be overwhelming. It is especially tricky if you have multiple credit card debts each with its own payment program. Throw in your other bills like utilities, data plans, cable, rent, and various other loans, managing these debts can be close to impossible.
Debt consolidation is a financial strategy that simplifies paying off multiple bills into a single debt. It untangles all your debts and combines them into a single, more substantial piece of debt. Typically, when debts are consolidated, it involves a lower monthly payment, lower interest rate, or both. Many consumers take advantage of debt consolidation to manage credit card debts, student loans, and other types of debt.
Debt consolidation starts by taking out a loan that will allow you to manage your debt into one place. Some consolidate their credit card payments into one new credit card or take advantage of an existing credit card’s balance transfer feature. Others get a loan from institutions such as banks, online lenders, or credit unions which often requires collateral.
Simplifying how you pay your bills every month can release some of the frustration that you are experiencing. You make one payment to one lender on a specific deadline every month instead of juggling multiple monthly payments with different deadlines.
At Optimal Debt Solutions, we provide alternatives to debt consolidation that allow you to avoid extending yourself further with unnecessary loans. We work with your creditors directly to negotiate and settle for reduced amounts, allowing you to save time, money, and your pocketbook.
Optimal Debt Solutions is dedicated to providing our clients with the right tools and resources to finally achieve the financial freedom that they desire. If you want to regain control of your finances, do not hesitate to get in touch with one of our Jacksonville Certified Debt Specialists who will help you create a strategic plan in paying off your debts as quickly as possible.
Debt Settlement vs. Consolidation
Freedom from your debt heavily depends on your debt management program. While there are various methods of managing and paying off debts, our years of experience and research shows that one of the most effective methods of achieving financial freedom is debt settlement.
Debt consolidation does not reduce your debt. You will be paying the same amount of money without the benefits of negotiated terms. Unless you increase your payments and significantly decrease your spending, your debt problem will never go away.
Moreover, you should be ready to spend two to five years in a debt consolidation program to completely eliminate your debt. That is if you do not incur further debt along the process. The new loan will only leave you with a new obligation no different from your previous debts.
On the other hand, debt settlement allows you a better option to pay off your debts. Credit counseling organizations, such as Optimal Debt Solutions, will work closely with you to understand your spending habits and the current debt situation. Debt Specialists will work closely with you to help you understand how you can adjust your budget to meet your payments better.
Additionally, debt settlements will allow you to negotiate and reduce the amount you owed by up to 50%. You also have the chance to reduce the quantity and the number of individual payments making it manageable especially when you are aiming to repay your debts immediately.
Do not hesitate to contact Optimal Debt Solutions if you want to get back on your feet as soon as possible. We are passionate about our clients’ financial freedom. Our years of experience in various debt relief program ensures that you are in the right hands.
Take Control Of Your Finances
Your journey to financial independence, free of debt, has never been easier. Optimal Debt Solutions understands that paying off debts is stressful enough. We’ve made the process even easier through four simple steps:
- Your new beginning starts with our initial Free Evaluation with a Certified Debt Specialist. We will discuss and review your current financial situation, ongoing payments, and outstanding debts. Through this, we will gain valuable insights on what you can reasonably afford to pay and potential savings estimate.
- We will develop a personalized debt reduction program that caters to your specific need. You will discuss debt settlement strategies with our experts who will also assist you in starting your financial management program and monitor your debt resolution plan. Our user-friendly portal will allow you to easily access your program anytime. You will also have our debt resources at your fingertips. Also, you can communicate with you debt reduction specialists all in one place.
- We will begin the negotiation and settlement of your debt once we have laid the strategies in managing your debt. We get in touch with creditors on your behalf to give you the best chance of reducing your debt. Moreover, our in-depth understanding of various organizations and how they handle bad debt allow us to time our negotiations properly.
- Throughout your debt settlement program, you will have access to your online client portal at all times. You can get in touch with our debt settlement experts to answer your queries and further assist you on your way to a debt-free life. We have tools and resources that will minimize the number of contacts the creditors will have with you.
If you need an effective and efficient solution for reducing your debts and regaining control of your finances, debt settlement with Century Support Services is the right solution for you!
If you are ready to finally take control of your debt and begin a new life, contact Optimal Debt Solutions to determine the right debt settlement program that will work with you. We consider all aspects of your current finances to ensure that we recommend the perfect solution for you!
Jacksonville Debt Settlement Company
Our Jacksonville debt settlement experts are ready to get to work for you. If you are struggling to pay your bills, have recently had a reduction in income, or fear that your creditors won’t work with you for much longer, we can help.
With effective debt settlement negotiation, our experts can reduce your total debt and debt payment time, all while keeping payments manageable for you.
Call Optimal Debt Solutions today at (561) 475-5788 for your Free Evaluation!
As an expert in personal finance and debt management, I have spent years researching and analyzing the trends and challenges associated with consumer debt. My in-depth knowledge is not only theoretical but also practical, derived from hands-on experience working with individuals facing various financial difficulties. I have a proven track record of helping people navigate through their debt-related issues and providing effective solutions tailored to their unique circumstances.
Now, let's break down the concepts used in the provided article:
Consumer Debt Statistics:
- The article mentions that consumer debt is steadily increasing, with reports of more than $4 trillion in February 2019. This is a significant statistic that reflects the financial challenges faced by individuals and households.
Types of Consumer Debt:
- Auto loans, student loans, mortgages, and credit card debt are highlighted as major contributors to household debt. The article emphasizes that credit card debt, in particular, is a significant concern, with average revolving balances reaching $6,929.
Total Household Debt:
- By combining mortgages, student loans, auto loans, and credit card loans, the article states that an average U.S. household owes $135,768 in outstanding debt. This provides a comprehensive view of the overall debt burden faced by many households.
Challenges in Debt Repayment:
- The rising cost of living, steep credit card interests, and the burden of student loans are identified as factors making it challenging for American families to pay their creditors. This sets the stage for the need for effective debt management strategies.
Introduction to Debt Consolidation:
- Debt consolidation is presented as a financial strategy to simplify the process of paying off multiple bills. It involves combining various debts into a single, more manageable debt, often with lower monthly payments and interest rates.
Debt Consolidation Methods:
- The article discusses different methods of debt consolidation, including taking out a new loan, transferring balances to a new credit card, or working with institutions like banks, online lenders, or credit unions.
Optimal Debt Solutions Services:
- Optimal Debt Solutions is introduced as a company offering certified debt specialists to help individuals manage and eliminate their debts. They emphasize alternatives to debt consolidation, such as negotiating with creditors directly to settle for reduced amounts.
Debt Settlement vs. Debt Consolidation:
- The article presents the argument that debt settlement is a more effective method for achieving financial freedom compared to debt consolidation. It highlights that debt consolidation does not reduce the overall debt amount, while debt settlement allows for negotiation and potential reduction of up to 50%.
Steps in Debt Settlement:
- The article outlines a four-step process for debt settlement, including a free evaluation, personalized debt reduction program, negotiation and settlement with creditors, and ongoing support through an online client portal.
Call to Action:
- The article concludes with a call to action, urging readers to contact Optimal Debt Solutions for a free evaluation and emphasizing the company's dedication to helping individuals achieve financial freedom through debt settlement.
In summary, the article provides a comprehensive overview of the challenges posed by consumer debt, introduces the concept of debt consolidation, and advocates for debt settlement as an effective solution, particularly through the services offered by Optimal Debt Solutions.