Maryland Debt Relief Programs

If you are committed to lowering your debt levels and reaching a debt-free life, then ClearOne Advantage is here to help you settle your debt and enjoy life again. Marylanders have on average $5,900 in credit card debt and $43,000 in student debt. While people in the State of Maryland earn good incomes, the cost of living and the demands of modern life mean that it’s very easy to go into debt.

When your credit card bills have you stressed about making minimum payments or you feel like you will never be able to pay off your student loan debt, it’s time to get debt relief help. If you to stop the fear of debt collection, stop thinking about bankruptcy, and improve your life, you can get debt relief with the help of ClearOne Advantage.

What Debt Relief Options are Available in Maryland?

When debt reaches unsustainable levels, Marylanders have several debt relief programs available to them.

Debt consolidation

Debt consolidation rolls all your existing debts into one lump sum. Instead of owing money to several credit card providers, banks, and other creditors, you can roll them into a single consolidation loan with a single payment. The benefit of debt consolidation loans is that you are likely to get a lower interest rate on your overall debt compared to credit card interest rates. However, with a debt consolidation loan, you still owe the same amount that must be paid.

Debt management program and credit counseling

Debt management usually involves the help of a nonprofit credit counseling organization that will assist you with creating a plan whereby you have enough financial space to repay your existing debts but with more favorable terms, such as lower interest rates or an extended repayment period. The plan is adjusted based on your finances and your household income and expenses.

With credit counseling and a debt management plan, you may benefit from lower interest rates; the extra money left can be allocated to repay debts, so you are debt-free within a reasonable time frame. Debt management doesn’t reduce your overall debt amount: you still must pay the debts you have accrued.

Debt settlement

Debt settlement means part of your debt is forgiven because it’s impossible to repay based on your current income and expenses. To settle your debt, you need a financial advisor from ClearOne Advantage to apply for debt settlement with your creditors and handle the process. Let’s look at the step-by-step process of debt settlement in Maryland with ClearOne Advantage.

Debt Settlement for Your Maryland Debt

The goal of debt settlement is to lower the total amount of money you owe. With ClearOne Advantage you have trusted and professional debt specialists who will check your debt, creditors, and income and create a debt settlement plan targeted for your case.

Talk to our debt specialists in Maryland

Our debt specialists are always available to offer information, explain the process, and go through your debts, incomes, and expenses. They will draw a plan that fits with your financial situation and will help you find debt relief.

You have time to check our plan and gauge whether it meets your needs and expectations. Once you have agreed and approved the plan, our ClearOne Advantage debt specialists take care of the rest.

Make monthly payments in savings account

Debt settlement begins when you make a payment to a savings account which is in your name. Instead of paying your multiple creditors, you stop making payments and direct them to the savings account instead. The monthly payment amount is usually lower than what you already pay your creditors towards your debts.

ClearOne Advantage handles your debt settlement

Over time, funds will increase in your savings account. Once our debt specialists deem these funds to be sufficient, they begin negotiating with your creditors for debt settlement. The goal of debt settlement is for your creditors to reduce the amount of money you owe them, often by as much as 50% before fees. With your approval, ClearOne Advantage will use the money in the savings account to pay creditors and settle your debt.

When Your Debt is Settled In Maryland

Debt settlement takes time

Debt settlement doesn’t happen overnight. For enough funds to be available towards debt settlement, you might need 2 to 3 years. Of course, if you choose to increase your monthly payments to your savings account, then debt settlement can happen faster.

Debt settlement impacts your credit score

Settling your debt will impact your credit score. However, if you were already late in credit card payments and other debts, your credit score was likely already hit. Compared to bankruptcy, which stays on your credit report for seven years, with debt settlement you can start rebuilding your credit scoreand become debt-free.

Trust Professionals for Your Debt Settlement

You can negotiate a debt settlement with each of your creditors but it will be time-consuming and you might not have the right skills and background to reach a favorable settlement. Also, when creditors are faced with debt settlement coming from a professional debt specialist, they might not like it at first, but they soon realize that if they don’t agree to lower the debt level, they will lose out to other creditors.

Debt Settlement in Maryland from ClearOne Advantage

If you want a trusted professional, and experienced team to settle your debt in Maryland, then ClearOne Advantage is the right choice. We have the know-how and the tools to handle your debt settlement and work with your creditors to significantly lower your overall level of debt and help you face a brighter, debt-free future.

Do you dream of a life free of debt? With ClearOne it can be done! If you feel that debt is strangling you and not letting you live your life to its fullest, contact a ClearOne Certified Debt Specialist today at 866-481-1597 and get a free savings estimate to see how much debt settlement can save you!

Contact ClearOne Advantage

Find debt relief with ClearOne Advantage in Florida today. Our certified debt specialists can help you develop a confidential and secure personalized plan to negotiate with creditors to reduce your debt burden.

Contact a ClearOne Certified Debt Specialist at 866-481-1597 today to discuss your situation, explore your best debt relief options, and get a free savings estimate.