Have you struggled to find the right help with debt problems in the Great Lake State? CuraDebt would love to talk with you about your issues!
Our Michigan debt relief program offers a simple, personalized plan with big benefits that could change the course of your financial future.
Look no further than CuraDebt for guidance and help. We understand the risks and challenges of this tough situation, but you can relax knowing that we will be here to guide you through it all with our experience and expertise.
When your debt feels unmanageable, it’s important to get the best information and the expert advice you deserve. CuraDebt has decades of experience and unmatched expertise with licensed debt consolidation agents. We are a one-stop shop to cure your debt woes!
Founded in 1998, CuraDebt has helped thousands of individuals and families – just like you – work through their debt woes.
With a team nationwide since 2000, our goal is to help millions of Americans find relief from their financial stress.
We’re happy to provide you with more information and answer any questions you have about our debt solutions. Contact us today!
Whether you are in debt or simply searching for answers, one thing is certain, you’re not alone. In Michigan, the average person has about $4,692 in credit card debt. And with the average interest rate on credit cards being about 15%, that debt can quickly get out of control. There are a few options for debt relief, but it’s important to know what you’re getting into before you decide on a plan.
The auto industry is one of the most important industries in Michigan. It is responsible for a large portion of the state’s economy and employs a significant number of people. This industry in Michigan has been hit hard by the economic downturn. However, there are signs that the industry is beginning to rebound. In recent years, auto sales have increased and new investment has flowed into the state. Michigan’s auto industry is critical to the state’s economy as it provides good-paying jobs and generates billions of dollars in economic activity.
Michigan citizens are protected from abusive and harassing debt collectors under the Fair Debt Collection Practices Act (FDCPA). The FDCPA is a federal law that prioritizes consumer safety and ensures no one is harassed or ripped off their basic rights by debt collection companies. It protects consumers from illegal debt-collection tactics and provides limitations on what debt collectors can do when collecting certain types of debt.
The FDCPA is only applicable to the collection of debt obtained by a consumer mainly for personal, family, or household purposes. It is not applicable to the collection of corporate debt, business-related debt, or agricultural use.
If you have experienced disturbing phone calls from creditors, speak with a counselor at CuraDebt. At CuraDebt, our goal is to ensure you get your rights. We will be your advocate in defending you against illegal debt-collection tactics.
Debt settlement is the procedure of negotiating with your creditors to pay less than the full amount that you owe, based on your available funds each month.
Also referred to as debt relief or debt adjustment, and it is typically managed by a third-party company, however, if necessary you can do it yourself. Debt settlement options are beneficial, but truly require guidance from a professional. Most importantly, people have been effectively using debt settlement programs for many years.
At CuraDebt, we help to guide the relationship between the lenders and creditors for your debt. We are with you every step of the way and will educate you, communicate with you, and advocate on your behalf. If you are unable to pay the full amount, the professional expertise of CuraDebt can help to reduce some burden.
CuraDebt will use its decades of background and expertise to help you get the best possible debt terms. As you can see on our Google Reviews, our clients have incredible things to say about our team and our expertise!
With expert help and guidance from a company like CuraDebt, the path to success is much easier. The benefits of a sound debt settlement plan include:
The final saving after debt settlement lies on a lot of factors including
CuraDebt will point you in the right direction with your tax debts. CuraDebt can help you with these types of tax payments
CuraDebt understands how important your business is to you. CuraDebt will help your business with these types of debt.
CuraDebt understands the value of your business. CuraDebt will help your business with these types of debt.
Before giving up and getting stressed, check some of the options that can best suit you.
Most major credit cards have the option to pay a monthly minimum. This is a very common option and is quite tempting.
However, the most common issues with making minimum payments are:
Undoubtedly, there’s a reason credit card companies request monthly fees – they believe consumers can only handle fees for one month of living expenses!
After a few months, the accumulated fee will make it harder for you to get out of debt. Also, as the interest rate rises, getting debt-free will take far longer.
In short, this option may seem tempting but it has long-term repercussions!
Many love the idea of balancing transfers, initially. Quite simply, you take the card you have a high credit line on, open up a new credit card and transfer the balance from one credit card to a new one. This is typically done because people want to move the amount they owe to a credit card with a significantly lower interest rate and receive benefits such as cash-back rewards or points.
Balance transfer credit card offers typically come with an interest-free introductory period of 6-18 months, and some can even be longer. If you breach the agreement with the cardholder, you can potentially revoke the introductory Annual Percentage Rate (APR) and cause penalty rates to be applied.
When you take on new loans, you have no previous payment history. This puts you in a tight spot to be consistent with payments.
This may even give an illusion of fraud to lenders and lead to a worse situation. So, balance transfers aren’t a good option.
Debt Management Programs or DMPs are actually very similar to Debt Settlement Programs, however, DMPs are managed by non-profit credit counseling companies, whereas Debt Settlement Programs are for-profit.
In DMP, the non-profit organization aims to reduce your interest rates and accrued fees or lower your monthly payments by negotiating with your creditors. Unlike debt settlement, you still pay off the principal amount, so your credit score doesn’t take a hit. Credit counselors will work with you and teach you management skills to use towards handling your money and also create a budgeting plan.
DMPs typically won’t include your secured debts (such as auto loans, mortgages, or home equity loans) and some types of unsecured loans (such as student loans). Guidance can be offered by credit counselors but you’ll usually have to handle those payments yourself.
Additionally, any credit cards that you include in the DMP, you will need to close which will ultimately decrease your access to credit throughout the month. Your creditors may also watch your credit reports and force you to stop using credit cards that aren’t part of the DMP, while you’re involved in the program.
Therefore, DMPs may not be the best option for you.
An unsecured debt consolidation loan allows you to combine all of your debts into one single debt. Instead of making the standard individual payments to multiple cards or lenders each month, you bundle them into just one payment from one lender. This is usually a lower interest rate than what you would see on one of your credit cards. Unsecured debts are personal debts with no physical collateral. Some examples of this would be medical bills, student loans or credit cards.
Suppose you are given the option to pay just one loan instead of multiple loans and credit cards.
But wouldn’t it be easier for you to pay just one bill monthly, that’s also at a lower interest rate?
Consolidating debt is a good idea when debt payments are getting out of hand and you can no longer manage multiple payments.
Unsecured debt consolidation comes with a lot of disadvantages.
Debt Consolidation companies are mostly inconsiderate of your hardships and try to make money on your hardships. They employ high fees to take out a loan and are often more aggressive than your current debt collectors
With unfavorable conditions written in fine print, they can dodge customer concerns. These conditions entitle them to increase interest rates which leads to even worse debt.
Secured loans for debt consolidation are loans backed by collateral such as a mortgage or auto loan. If you own a home, a car, or other types of physical property, you can apply for a secured loan against it.
This is highly risky since if you default on your payments due to any circumstances, the lender can repossess your property and sell it. That can leave you without a home or vehicle.
However, if this is done with professional help like CuraDebt, you can get some room to breathe. With the lowest interest rates and highest savings, CuraDebt will come to your rescue.
Often the last option for any person is to declare bankruptcy. If your income is less than the median income of your state, Chapter 7 bankruptcy will be applicable.
Chapter 13 bankruptcy is applicable if your income is more than the median income of your state, but you still can not manage to pay back the debt.
If your business is unable to repay its debt and is on the verge of insolvency, It will fall under Chapter 11 bankruptcy.
Bankruptcy is the last possible and least preferable solution. Before making any decision to declare bankruptcy, you should discuss it with a professional – whom you understand the ramifications that may stay with you for decades.
In Michigan, the statute of limitations for debt is three years from the last time your account was used.
Overall, this program is specifically made for people going through hardships, like loss of income or unexpected expenses.
Are you suffering from debt issues and having to pay minimum payments regularly? Are you still struggling under debt, which has grown beyond what you imagined?
In order to see if you qualify, speak with a counselor at CuraDebt. We will create an estimate of your cash flow to see if you qualify for this program. We will get you a free estimate of your savings on the debt relief program.
CuraDebt will work for you and make your debt settlement extremely cost-effective. With CuraDebt, we help you become debt-free 2-3x faster than normal!
There are many types of debt relief programs available in Michigan, each with different terms and conditions. The short answer is – it depends.
In any event, everyone’s price truly does depend on their financial history, debt, and CuraDebt audit. While we cannot say an exact answer – we encourage you to reach out to us and learn more about how we can help you.
With unmatched service, CuraDebt gives you the best competitive rates. Most importantly, CuraDebt’s Debt Relief Program does not require an upfront fee and we provide you with various options – letting you select which is best for you.
Debt relief can seem like a daunting task if you’re struggling with one. However, there are a few things you can do to get started on the path to financial freedom.
With CuraDebt, you are in the right hands. With satisfied customers and zero complaints, we are confident that we are the best in our industry. We are more resourceful than any competitor in the market and help you at every step along the way.
If you’re struggling with debt in Michigan, there are a few options available to help you get relief. You can work with a credit counseling agency, file for bankruptcy, or negotiate with your creditors on your own. While you may also be able to negotiate with your creditors on your own to lower your interest rates, waive late fees, or set up a payment plan that works better for your budget, you can also consider talking to a financial advisor or an attorney who specializes in debt relief if you’re not sure where to start.
Whatever the reason, if you’re struggling with debt, don’t hesitate to reach out for help. There are many resources available to assist you in getting back on track financially.
Get rid of your high-interest-rate debt and create a debt-free future with us.
Call 877-850-3328 for a free consultation now!