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Debt Consolidation in Arizona

According to figures released by the Urban Institute, 38.7 percent of the average consumer debt of $55,831 currently is in collections in Arizona. The majority of debt in the state comes from mortgages, with 70.8 percent of Arizonans struggling to make timely payments on their homes. With an average household income of $65,788, consumers who are in debt face a daunting task when it comes to getting themselves out of it.

Some consumers who are up to their eyeballs in debt will consider bankruptcy as a means to alleviate the financial pressure. While bankruptcy is certainly an option, it has a lasting effect on a consumer's credit rating and should not be entered into lightly.

Consumers also have the option of working with a reputable credit counseling agency to consolidate their debt. Consumers who qualify for debt consolidation are able to combine their separate debt into one monthly payment that fits within their budget. Creditors are required to work with consumers who are eligible for debt consolidation. As part of a debt consolidation agreement, consumers may be required to agree not to apply for any new credit until their existing debt is settled. Consumers also may be required to undergo credit counseling.

 

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Debt Consolidation In The News

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Small businesses take on a lot of debt, and it's not uncommon for this debt to lead to business failure. Every business takes on debt at some point, and even the world's largest entities, such as Amaz...

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Feds No Help to Student Debt

While the income-driven payment plan allows immediate financial relief by reducing current loan payments it doesn't forgive any of the total amount the borrowers owe or - and that is the ...

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Under DeVos, full loan relief rare for for-profit students

The Trump administration is granting only partial loan forgiveness to the vast majority of students approved for help because of fraud by for-profit colleges, according to preliminary Education Depart...

Published:  Fri, 07 Sep 2018 16:04:00 GMT



Reviews on Debt Relief programs from DebtReviews.com

America's leading online debt reviews provider, DebtReviews.com, helps students, companies, and individuals choose the most suitable debt relief company with 100% unbiased and free reviews DebtReviews ...

Published:  Thu, 06 Sep 2018 22:35:00 GMT



Zimbabwe's Options for Sovereign Debt Relief

A critical first step towards the promised economic awakening of Zimbabwe will be comprehensive debt relief. President Mnangagwa and his new government will need urgently to complete the technical ana...

Published:  Fri, 31 Aug 2018 23:30:00 GMT




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