From rambling bayous to the streets of New Orleans, The Pelican State is home to a variety of cultures. But despite the sweet sounds of jazz and spicy gumbo, many Louisiana residents struggle to pay their bills. In fact, the average credit card debt per Louisianan is $5,400, which can quickly add up and become unmanageable. Last month alone, more than 3,600 Louisianans contacted National Debt Relief for help. Their debts have gotten out of hand, they’re drowning in interest payments and are terrified that they may soon be forced to file for bankruptcy.
Fortunately, there are many ways to find debt relief in the state of Louisiana. One of the most popular options is a debt consolidation loan, which is a unsecured personal loan used to combine and pay off your existing debts like credit cards, student loans and auto loans at a lower interest rate than you’re paying now. But before you apply, there are several factors to consider to ensure this solution is right for you.
To qualify for a debt consolidation loan, you’ll need to have a clean credit history, stable income and a good debt-to-income (DTI) ratio. If you don’t meet these requirements, a better option might be to focus on improving your DTI before attempting to apply for a debt consolidation loan.
Another popular way to reduce your debt is through a credit counseling agency. This type of agency will negotiate with your creditors to potentially reduce your interest rates, waive fees and offer a monthly payment plan that you can afford. They also provide education about debt and money management to help you get back on track. The best credit counseling agencies will make you feel safe and respected, respond to your reviews and have accreditations with the BBB and AFCC.
If you’re not satisfied with the results of other debt relief methods, filing for bankruptcy can eliminate your outstanding debts and give you a fresh start. But before you pursue this option, it’s important to understand that your credit score will drop dramatically and you’ll be unable to obtain new loans for 7-10 years afterward.
What Is the Best Debt Relief Company in Louisiana?
There are many companies that offer debt relief in the state of Louisiana, but it’s crucial to choose a trusted, reputable company with a strong track record. You want to work with a company that’s transparent about their services and offers an affordable program that works for you. If you are looking for a skilled Debt Relief specialist, visit https://www.louisianadebtreliefhelp.com/ for guidance and Free Consultation!
The most recommended company for reducing debt in the state of Louisiana is JG Wentworth, which has excellent customer service, maintains top-notch accreditations and is open to discussing your individual situation. They’ve helped thousands of people get out of debt and will work with you to create a personalized plan that’s unique to your situation. You’ll be able to work with a dedicated representative through every step of your journey and will have access to an online portal to track your progress.