No one wants to seek bankruptcy relief. A solid Seattle debt settlement agency may be able to help.
At WA Debt Settlement, we can find you a debt settlement firm in Seattle, WA – now – who helps residents of Seattle. Are you ready to lower your unsecured debt?
About 79,886 of Seattle’s 806,438 residents owe at least $10,000 to their creditors. Find out how much Seattle debt settlement will save you.
Seattle Debt Negotiations
Often known as debt negotations in Seattle, debt settlement gives you some well-known benefits:
- Substantial Reduction in Debt
- Big Savings in Interest
- Short 24-36 Month Schedule
- Adjustable Repayment Scheme
- Alternative to Bankruptcy
At the same time, it has a dramatic effect on your credit scores. For that reason, you ought to be 100% certain that it is the best option to get out of debt. How much could a debt settlement company in Seattle, WA, help you save? Get a no cost debt assessment!
As a way to negotiate the largest reduction in debt possible, your debt settlement company will probably have you quit paying back your credit card companies. Your money will enter a bank account. When there is sufficient funds to pay the negotiated settlement, along with the fee owed to your debt settlement firm, your debts will be repaid. For the time being, your credit score gets lower and lower. Plus, the debt collector calls probably won’t taper off. In accordance with fairly recent FTC regulations, your savings, or “special purpose” account has to be under your complete control, whatever the result of your credit card negotiations. It also should be FDIC-insured.
Don’t forget that credit card companies can sue an individual so as to go after a debt. There is more risk of a lawsuit when it comes to debt settlement in Seattle, WA. How come? Simply because you stop repaying your creditors month after month.
Contrary to popular belief, a local Seattle debt settlement attorney doesn’t necessarily have the power to prevent a lawsuit from a credit card company that is going after the money you owe. Sometimes they can handle your case, other times they won’t.
To be qualified for a credit card debt settlement program in Seattle, WA, you normally need to have:
- $10,000 in Credit Debt
- $300 Each Month to Spend
If you have $10,000 of credit card debt, it’s not just you. It’s estimated that 79,886 Seattle residents are trying to repay at least this much debt.
What’s Your DTI?
Your debt consultants will want to know your debt to income ratio.
Let’s imagine you earn $2,049 on a monthly basis, which is the average in Seattle. If you spend less than $738 for credit cards, rent, and any kind of loans, this is a healthy level of debt (36%). If you are shelling out $758-$861, which is 37-42%, you need to cut down on how much you’re spending. If are shelling out $881 to $1,025 (43-50%), you’re on the brink of financial collapse. If you spend more than $1,045, you’re in trouble and ought to consult a debt specialist asap.
Settling your debt and managing it have one important thing in common: a consolidated payment per month. But the commonalities end there. Debt settlement results in a reduction in what you owe, and consolidation or management doesn’t. You pay back your credit card companies each month under a debt management plan, meaning your credit score is not harmed as much as it can be after a debt settlement. Having said that, debt consolidation nearly always takes more time and at the end you’ll pay your creditors in full.
Paying Your Seattle, WA Debt Reduction Service
No debt settlement companies in Seattle should bill you before they settle your debts, which means your good debt settlement service in Seattle, WA, will only charge a fee after a balance is paid back. Other debt solutions typically call for flat fees.
Normally, settlement companies charge you a percentage of the amount you want reduced, often around 15%. But keep in mind, you should not be forced to pay until after they actually get your debt reduced.
Seattle (WA) Debt Settlement Services
- A A Action Debt Relief Services, 1123 E John St, 98102
- American Financial Solution, 2400 3rd Ave, 98121
- Clearpoint Financial Solutions- Inc., 9709 3rd Ave NE, #210, 98115
- Construction Credit Corporation, 100 S King St, 98104
- Consumer Credit Counseling Service, 4220 Aurora Ave N, 98103
- Credit Counseling Centers of America, 1503 3rd Ave W, 98119
- CRW, 300 Queen Anne Avenue Street 429, 98101
- Essex Credit Corporation, 901 Fairview Ave N, 98109
- Essex Credit Corporation, 9030 Seward Park Ave S, 98118
- Province Mortgage Company, , 98144
- Debt Collection Agency B & A, 1014 8th Ave, 98104
- LLS Bankruptcy Attorneys Seattle, , 98052
- LIFELOCK SEATTLE, , 98052
- CREDIT REPAIR SEATTLE, , 98052
- My Cash Central, , 98052
- Consumer Credit Counseling Service, , 98052
- Seattle Credit Repair, 330 Cherry St, 98104
- Credit Repair Seattle, 152 Ward St, 98109
- Seattle Debt Consolidation Services, 301 Union St, 98101
- Capital Credit Enhancement Group, 701 5th Ave, #4200, 98104
- Nacm Western Wa-Al-Hi, 2118 3rd Ave, 98121
- Law Offices Christopher Green, 1325 4th Ave, #1500, 98101
- Credit Counseling, 655 SW 152nd St, 98166