Is Florida Debt Relief real?

Is Florida Debt Relief real?

Consumer Credit Counseling in Florida. Consumer credit counseling is NOT a loan; it’s a debt relief program. Negotiators contact your creditors and work out a smaller payment, with a reduced interest rate, on each of your credit card debts. Only credit card debt qualifies for consumer credit counseling.

How does FL debt relief work?

After enrolling in a program of Florida debt settlement, you’ll stop paying your existing creditors and use your savings to establish an escrow account. Once all of your debts have been settled, you’ll make a lump-sum payment out of your escrow account and begin a new chapter in your financial life.

What is the average fee for debt consolidation?

The average annual percentage rate (APR) on a debt consolidation loan is about 22.59%. The debt consolidation loan rate that’s quoted may vary depending on the unique credit background of the borrower and the lending institution they’re dealing with.

Can a debt collector sue you in Florida?

You have a private cause of action if a creditor or debt collector harms you in violation of the FCCPA. This means that you can file a lawsuit in Florida against the collector or creditor. If you win, the court may award to you: actual damages.

What percentage should I offer to settle a debt?

Typically, a creditor will agree to accept 40% to 50% of the debt you owe, although it could be as much as 80%, depending on whether you’re dealing with a debt collector or the original creditor. In either case, your first lump-sum offer should be well below the 40% to 50% range to provide some room for negotiation.

What is a good credit score for debt consolidation?

Often you’ll need a credit score of around 650, although bad-credit debt consolidation lenders exist; these lenders may accept credit scores of 600 or even less. Just remember that the lower your credit score, the higher your interest rate.

What is the Florida debt relief program?

Florida Debt relief is the reduction of debt through a debt settlement program or debt consolidation. Pacific Debt specializes in debt settlement and we take an active approach to reduce your debt for substantially less than you currently owe.

What is consolidated credit counseling?

Consolidated Credit is a nationally recognized and certified credit counseling agency. We offer credit counseling, debt management services, debt relief and personal finance education. We’re here to help. From credit counseling advice on improving your budget and reduce your debt to housing support to help you…

What is a debt relief center?

The Debt Relief Center assists individuals and families in debt by serving as a locator service for BBB accredited companies nationwide. These companies specialize in specific debt relief categories, including debt management through credit counseling agencies, debt consolidation, debt negotiation, debt settlement and debt mediation.