What may be a few credit card swipes can quickly turn into financial devastation and leave a person feeling helpless with no relief in sight. While bankruptcy is an option, many choose not to file because of the long-term adverse effects it will have on their credit history. If an individual feels like there is no way out, it may be time to contact one of the many loan modification lawyers in Hagerstown. They will be able to provide expert assistance and have debt modified into an easier-to-pay loan product. Here are the most beneficial reasons to seek a loan modification program.
Low Monthly Payment
Most individuals feel like they are drowning by just making monthly minimum payments. A balance of $1,000 can take months to repay, and lead to hundreds of dollars in interest expense. Loan modification lawyers in Hagerstown can roll a person’s debt into one loan that will require one small monthly payment. This can help a person afford their debt and allow them to pay it off more quickly than just with minimum payments.
Reduced Interest Expense
The interest associated with credit cards can be more than thirty percent. This is one of the biggest barriers to making headway on a loan balance and can make a person feel stuck financially. A loan modification will reduce the amount of interest and allow all of a person’s monthly payment to go directly towards the principal balance.
End Collection Calls
One of the most frustrating parts of being in debt is the endless calls from debt collectors. As payments are missed, they will begin making calls non-stop to try and scare the debtor into making a payment. This can be embarrassing and cause many to change their phone number to avoid the harassing and sometimes threatening calls. Loan modification lawyers in Hagerstown can file the necessary paperwork to stop collection calls and allow a person to get relief from nasty collection practices.
Get relief today by contacting the debt experts at The Law Office of Laura Margulies. One call can start the process of loan modification and allow a person to get back to a financially successful future. Visit Law-margulies.com to learn more and see how easy getting financial freedom should be.
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