Consumer debts are rapidly increasing yearly, with estimates of $14.6 trillion at the end of 2020. In the fourth quarter, it had risen by 1.4% due to the alarming rise in mortgage debt, which is now totaling more than $10 trillion. Although a sizable proportion of household debt comes from mortgages, student loans, and car loans, a small part is from credit card debt.
Debts carried from month to month are constantly rising, particularly those that are left unmanaged. With an estimated $6,929 outstanding accounts from credit card debts, it is becoming challenging for families in the U.S. to pay their creditors.
Taking into account the mortgages, student loans, and auto loans, along with credit card loans, a typical U.S. household owes about $135,768 in unpaid debt. With the ever-rising cost of living, outstanding student loans, and high credit card interests, clearing your debt is a challenge that is impossible to manage on your own.
The certified debt consolidation experts at Encompass Recovery Group understand the frustrations and challenges of handling these debts. We can help you open a new chapter in your life if you participate in our comprehensive debt consolidation so you can eventually clear your path to financial independence. We are committed to helping residents of Fort Lauderdale live free and happier lives.
Manage Your Finances With Debt Consolidation
Handling the countless bills that you receive every month can be daunting. It becomes particularly challenging if you have several credit card debts, each with a different payment program. Combined with other loans and expenses such as cable, rent, and utility bills, clearing these debts is next to impossible.
Thankfully, there is a solution for you in the form of our debt consolidation program. This is a financial technique used to restructure your debts, bills, and expenses, merging them into one single debt. Once these loans are combined, it means lower monthly installments, a lower interest rate, or both. To simplify repayments and reduce stress, we encourage our clients to take advantage of this process to handle their student loans, credit card debts, and other kinds of debts.
Debt consolidation involves taking out a new loan to repay your other loans. Some people combine their credit card debts into one new credit card or take advantage of the available balance transfer feature. Some take loans from banks, credit unions, but they often require collateral.
By simplifying how you pay off your monthly bills, you will be able to relieve some of the stress you have been having. You pay off one lender on a fixed date per month instead of handling several payments on various dates of the same month.
Fort Lauderdale Debt Consolidation
Our Fort Lauderdale debt management specialists are happy to work with you. Whether you are unable to pay your bills, just had a decline in income, or are worried that your lenders will not negotiate with you, we can be able to help you. If you need an affordable and reliable strategy for addressing your debts and taking back control of your finances, debt consolidation with Encompass Recovery Group is the best option for you.
If you are ready to face your debt and begin a new life, contact us so we can help you decide the best debt resolution package that will work for you. We consider all facets of the current finances to ensure that we propose the right approach for you. With successful debt resolution negotiation, our specialists will reduce the overall debt and the payment deadline while making the payments and interest rates achievable for you.
Consolidate Your Debt Today
At Encompass Recovery Group, we offer alternatives to debt consolidation to help you stop straining yourself further with additional loans. We collaborate with your creditors and have a one-on-one discussion with them on your behalf to settle for smaller sums, saving you time, effort and money.
We are committed to providing our clients with the right resources to gain the financial freedom they so much crave. If you wish to regain your peace of mind and live a life free of debts, reach out to our debt counselors today.