Every year millions of Americans, just like you, deal with debt. Whether it’s from student loans, credit cards, or back taxes, all debt has one thing in common, it’s financially crippling and often impossible to deal with on your own.
This is where Rebound Finance can help. Below we’ve listed out a few questions for you to answer. After each question, we’ve provided all the information you’ll need to help identify what type of debt relief solution will best suit your unique needs. Once you’ve determined which solution is the best option, fill out an application or give us a call. Speaking with a debt professional may be just what you need to regain control of your finances and finally get back on track.
Are You Dealing with Credit Card Debt?
Unfortunately, high-interest credit card debt is easy to create but extremely difficult to get rid of. But, the good news is that there are many debt relief options available to anyone currently dealing with high levels of credit card debt.
Interest Rate Negotiation
For those who are struggling to pay down their credit card debt because of high-interest rates, you may want to consider negotiating a lower rate with your credit card provider. With a lower interest rate, you’ll be able to pay off your debt quicker and less of your hard earned money will be wasted on interest charges.
If negotiating with a credit card company intimidates you, or you’re simply looking for professional help, consider working with a credit counselor. They can speak with your credit card provider on your behalf, negotiate a lower interest rate, and help you create a plan to pay down your debt.
Credit Card Balance Transfers
A credit card balance transfer is another great way to save on interest. With this type of do-it-yourself debt consolidation, you’ll transfer the balance from your current high-interest credit card to a credit card that has a special introductory APR of 0% for balance transfers. These special introductory rates typically only last for 12 to 24 months, this means you’ll have a specific amount of time to pay off your debt. But, during that time, 100% of the payments you make will do towards bringing down the total amount of debt you have.
Debt Consolidation Loans
Another way to consolidate your high-interest credit card debt is to use a debt consolidation loan. The reason this works is that often personal loans have lower interest rates than credit cards. Keep in mind that this is only if you’re able to qualify for a personal loan with a low enough interest rate. So, you take the money from the loan and pay off your credit cards, now you only have to make payments on the loan instead of multiple credit cards. You’ll lower your interest rate and make your debt repayment more manageable with a fixed payment plan, it’s a win-win situation.
Debt Management Program
If you’re currently dealing with a large amount of unsecured debt and have a low credit score then a debt management program might be exactly what you need. You’ll work with a professional credit counselor, through a credit counseling agency, who will create a personalized debt repayment plan that fits into your budget and help you get a reduced interest rate. Most consumers who enter a debt management program are able to complete it in under 60 payments.
Is Your Student Loan Debt Holding You Back?
Student loan debt is a huge financial burden that the majority of American graduates must deal with on a daily basis. If you’re one of these graduates, we offer a student loan debt management program that will connect you with a personalized debt relief solution.
If you’re currently making payments toward one or more federal student loans, are having trouble keeping up with the payments, would benefit from a lower interest, or are having your wages garnished, we can help.
Do You Have a Tax Bill That You Can’t Pay?
Unpaid tax debt is a serious issue that should be addressed right away. To help prevent wage garnishment, liens, and levies, it’s important that you get the help you need to create a plan to pay back the money you owe. There are several tax debt solutions available to all Americans. To determine which one is best suited to your needs, we can’t recommend enough that you first speak with a professional who can assess your situation and help you choose the best solution.
Are You Looking for a Fresh Start?
If other debt relief solutions have not worked for you or you’re looking for a fresh start, you still have a few options available to you. It’s important to keep in mind that these options should only be considered as a last resort. This is another reason why it’s so important to speak with a professional credit counselor, as they’ll be able to guide you through the process of choosing the right solution.
If you decide that debt settlement in the best option for you and your financial situation, you’ll be able to settle your debts and pay less than you actually owe. The major drawback with debt settlement is that your credit score will be hurt. But, for those in dire enough financial situations, it can work.