For Tallahassee residents facing constant collection calls, debt consolidation and settlement can be a solution. Debt settlement companies work with your creditors to attempt to reduce the amount you owe. Our partners at ConsumersAffairs researched the best debt consolidation in Tallahassee to lower monthly payments and ease your debt burden.
Everyone deserves to make thoughtful, informed purchase decisions. The local guides provided on this website are free for consumers. ABC 27 may receive compensation from our partners. Learn more.
There are many reasons Tallahassee residents go into debt, and attempting to pay it off while also meeting your monthly expenses can be overwhelming. The constant financial pressure can lead to missed payments and increased interest rates. Between credit card payments, medical debt and student loans, it’s easy to get behind on payments and much more difficult to catch up.
Nearly 40 percent of Leon County residents have debt that is in collections, which is higher than the national average of 33 percent. Around 16 percent of Leon County has student loan debt in collections, while 23 percent are behind on payments for medical debts.
Getting debt consolidation help in Tallahassee
One of the most common forms of debt consolidation in Tallahassee is debt settlement, which lets you make one monthly payment into an account created for debt settlement purposes. The debt consolidation company you’re working with uses these funds to negotiate with creditors in an attempt to settle your debts for a reduced amount.
Generally, debt consolidation services in Tallahassee prefer a minimum of $10,000 in unsecured debt. Secured debt is ineligible for debt settlement.
Secured vs. unsecured debt
Debt with an asset used as collateral that can be seized by the creditor for defaulting on the debt. This includes car loans and mortgages.
Debt with no asset securing the loan, such as credit card debt, medical debt and student loans.
It typically takes between two to four years to finish the debt settlement process. While debt settlement may have an initial negative impact on your credit score, it’s generally a better option than bankruptcy. Unlike bankruptcy, debt settlement:
Remains private and is not public record
Typically has a reduced negative impact on your credit score
Protects personal assets
Other debt relief options in Tallahassee
If your debt is lower than the minimum amount debt consolidation companies prefer, there are options you might consider. These include:
Transferring your debt to a credit card with 0 percent interest on balance transfers
Taking out a debt consolidation loan to pay off all current debts and reduce your number of payments
Working with a debt counseling agency to create a financial plan to handle your debts
If you have a good relationship with your lender, it’s also possible you may be able to negotiate with them to lower your payments or settle your debt for a lump sum amount. This can be a time-consuming, complicated process, however, which is why most Tallahassee residents rely on a debt consolidation company’s expertise in the area.
National Debt Relief helps clients handle debt by assisting with creditor management and settlement negotiation. The company is accredited by the Better Business Bureau with an A+ rating and charges no fees until it achieves results. Tallahassee residents appreciate the strong customer service and expert knowledge of Florida laws.
CreditAssociates aims to help customers live debt-free lives within two to three years. After a free consultation, Tallahassee residents will be aided by an agent who negotiates on their behalf and helps erase or reduce their medical and credit card debt. Reviewers from Tallahassee like the quick response time from representatives.
CountryWide Debt Relief has more than 30 years of experience and offers free consultations, fast approval and low monthly payments. The company provides debt settlement and debt consolidation services and accepts clients with bad credit. Tallahassee residents enjoy CountryWide Debt Relief’s employees for their expert insight and professionalism.
Freedom Debt Relief offers free debt evaluation and a customized approach to quickly and cheaply resolve your debt struggles. The company has settled more than $9 billion in debt and offers flexible and low payment options. Tallahassee customers praise the company’s representatives for their compassion and eagerness to help.
Accredited Debt Relief offers debt settlement services as well as other options for debt relief. The company offers free consultations with certified debt counselors to discuss your options and see if debt settlement is the right choice for you. Tallahassee customers recommend the company for the expert advice and guidance provided by its representatives.
Pacific Debt Inc. was founded in 2002 has settled more than $200 million in debt by offering services such as debt settlement and credit counseling. The company helps Tallahassee residents fully understand their debt situation while providing top-notch customer service. Local reviewers appreciate how the company treated them with respect during the process.
If your credit card debt exceeds $7,500, this debt settlement company can help. Debt Rx is small enough to offer individual solutions for debt relief. If you’re behind on bills, Debt Rx can help keep creditors away as mentioned in customer reviews who spoke highly of their effective service.
Our partners independently research and analyze the companies mentioned in our guides and work with subject matter experts to add valuable information that helps consumers make smart purchase decisions. Our partners will not include companies on these guides that do not meet specific quality standards. The compensation we receive from our partners may impact how and where companies appear on our site, including the order in which they appear.
Our partners independently research companies, and use editorial discretion to award companies with special recognition (i.e. Best Value) based on their staff’s judgement or subject matter expert’s judgement. Our partners do this to help you identify companies that will meet your specific buying needs, and do not receive compensation for these designations.