Debt consolidation can help you pay off credit card debt faster. It offers low or zero percent interest payments and allows you to clear your balances in one lump sum. Our partners at ConsumerAffairs researched the best debt consolidation companies in Baltimore to help you choose the right debt relief for your financial situation.
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#1
MOST POPULAR
National Debt Relief
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CALL NATIONAL DEBT RELIEF
(844) 462-9121
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#2
CreditAssociates
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VISIT WEBSITE | Sponsored Ad |
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#3
Accredited Debt Relief
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VISIT WEBSITE (877) 566-8703 | Sponsored Ad |
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#4
Freedom Debt Relief
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VISIT WEBSITE (866) 515-6714 | Sponsored Ad |
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#5
Pacific Debt Relief
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#6
Debt Rx
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The total amount of credit card debt in America increased over five percent in 2017, with more than 41 percent of people carrying a balance every month. On average, Baltimoreans have credit card debt equaling roughly 11 percent of their income, which is about the national average, but higher than the rest of Maryland.
| Average credit card debt | Average household income | Average credit card debt as a percentage of income | |
|---|---|---|---|
| Baltimore | $6,239 | $56,221 | 11% |
| Maryland | $7,913 | $100,071 | 8% |
| USA | $5,700 | $46,550 | 12% |
If you have high-interest credit card debt, especially spread across multiple cards, debt consolidation can help lower your monthly payments and enable you to pay off your debt faster.
What is debt consolidation?
There are two main methods of debt consolidation: debt consolidation loans and low-interest balance-transfer credit cards. You’ll need good credit to qualify for both. A debt consolidation loan is a new loan that is used to pay off your credit card debts in full while you make monthly payments on the new, lower interest loan. A balance transfer credit card allows you to transfer all of your high-interest credit card debt to a low-interest card, which you then have to pay off in full within a specified time limit.
Benefits of debt consolidation
Drawbacks of debt consolidation
If your total debt is more than 50 percent of your income, or you’re facing potential bankruptcy, you’re unlikely to get approved for debt consolidation. The Federal Trade Commission has information about other options available for people in this predicament.
If you pursue debt consolidation in Baltimore, make sure to read the Maryland regulations for reputable debt management companies so you don’t end up in worse financial shape.
National Debt Relief |
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CALL NATIONAL DEBT RELIEF (844) 462-9121 VISIT NATIONAL DEBT RELIEF |
National Debt Relief offers a range of options for debtors, including debt consolidation, debt settlement and credit counseling. Their website provides information about state laws and statistics in Maryland, and they’re a licensed Debt Management Services (DMS) provider. Sponsored Ad
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CreditAssociates |
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VISIT CREDITASSOCIATES |
For debt relief solutions, CreditAssociates works to settle debt in 24 to 36 months. Good credit is not required and customers get a free, no obligation consultation by speaking to trained advisors who are experts in negotiating down debt. Customer reviews speak highly of agents for being professional, helpful and communicative. Sponsored Ad
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Accredited Debt Relief |
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(877) 566-8703 VISIT ACCREDITED DEBT RELIEF |
Accredited Debt Relief is a debt management service provider with debt consolidation and debt settlement options. They offer free consultations to determine which method would work best for you. Negotiators will work to lower your debts and no fees are charged until your debts are resolved. Sponsored Ad
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Freedom Debt Relief |
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(866) 515-6714 VISIT FREEDOM DEBT RELIEF |
Freedom Debt Relief provides debt settlement, primarily designed for people with a large amount of debt that exceeds their monthly budget, although they don’t offer debt consolidation loans. Their blog contains a lot of helpful information. Sponsored Ad
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Pacific Debt Relief |
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VISIT PACIFIC DEBT RELIEF |
Pacific Debt is a debt settlement company that does not offer debt consolidation as one of their options. Though they offer debt counseling, their primary method of debt relief is debt settlement, which is different from debt consolidation. Sponsored Ad
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Debt Rx |
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VISIT DEBT RX |
Debt Rx works with those having credit card debts of $7,500 or more. This debt settlement company is smaller than competitors to focus on individual service and solutions for debt relief. If you’re behind on bills, Debt Rx could be the right prescription to ease the financial pain of being in debt. Sponsored Ad
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