Escondido Debt Consolidation Savings Estimate

We have helped over 400,000 people. See if you qualify and how much you can save every month.

Debt Consolidation Help
BBB A+ Rating

What Type of Debt Do You Have?

How Much Debt Do You Have?

100% free savings estimate and it will not affect your credit score.

Consumer Debt Facts in Escondido

California Consumer Debt Accumulation by County

Escondido Consumer Debt Accumulation

$399 dollars in debt in 2016

The average Escondido resident accumulated $399 dollars in debt in 2016. Escondido citizens racked up a total of $59.9 million in debt in the 2016 fiscal year.

What are the Debt Consolidation Options available in Escondido?

Facing Debt: You have options

If you've got some serious debt accumulating, it can be extremely daunting. When the bills keep piling up, and you might not know where to turn to for help. Maybe you've heard a bit about debt consolidation but aren't too sure on how it can help you climb your way out from the hole you're in.

Debt consolidation doesn't have to be scary, and there are many options which will help you get out of debt faster. Research all of your options and then pick the one that works best for you and your financial situation.

Secured Debt Consolidation Loans in Escondido

Typically a secured debt consolidation loan allows you to lump most of your debt payments under a single bill at a lower rate than the individual rates you may have been getting. However, in order to secure a lower rate with a secured debt consolidation loan, you must have some type of asset to use as collateral, such as your home. More information on that can be found below.

How much of a loan you can get depends on the type of collateral you have and how much it's worth. These types of loans can also be repaid back over a long length of time, anywhere from 5 to 30 years, and they can often boost your credit rating if managed properly. Otherwise, you risk defaulting on the loan and losing the asset used as collateral.

Unsecured Debt Consolidation Loans in Escondido

Much like a secured debt consolidation loan, an unsecured debt consolidation loan lets you combine your debt payments under one lump sum with one interest rate. However, unlike a secured debt consolidation loan, you're not required to have an asset or collateral to receive such a loan.

Because you aren't offering up any collateral for such a loan, it's a much riskier loan for debt consolidators, and your interest rate could be somewhat high. These loans are determined according to your credit history and score, and the upside to an unsecured debt consolidation loan is that you aren't in jeopardy of losing your asset should you default.

Using a Home Equity Loan as Debt Consolidation in CA

A home equity loan lets you borrow money, using your home as collateral. This home equity loan is essentially a second mortgage that allows you to turn the equity on your home (the money your property is worth minus the amount you owe on it) into cash to be used at your discretion, such as debt consolidation. These loans are set up to be repaid quicker than your mortgage in equal payments with a fixed interest rate.

Home equity loans are secured loans which have the same risks and rewards already mentioned.

There are also programs which permit you to consolidate all of your credit card debt into one single payment (and interest rate). If you've got good credit, you could also be able to negotiate a lower interest rate on your credit cards, making it easier to repay.

Another option is to qualify for a new credit card at a low introductory interest rate (possibly as low as 0%) and transfer your credit card balance to your new card. While you're in your interest free rate, you should pay double payments in order to pay off your debt faster. But understand that the interest may very well be fairly high after the promotional period. Consider this way of consolidating debt only if you know you can pay off the debt while the introductory rate is in effect.

Another option with respect to debt consolidation is to enroll in a debt management program. A credit counseling agency will help you set up a debt management plan to help you pay off your debt as quickly as possible. This agency will also usually negotiate with your debtors so that they can reduce interest rates and fees.

Once the repayments are negotiated you will usually set up an account with the credit counseling agency and pay one lump sum a month into the account. The credit counseling agency will then disburse the payments out to each creditor. This benefits you because you only have to make one payment, and additionally it gives creditors more assurance that your payments will be made on time every month.

Credit counseling agencies can also help you develop a budget that's simple for you to follow and help alleviate some of the stress your debt has been causing you. If you stick to the plan a debt management program can help you save money, get rid of debt sooner and have a positive effect on your credit score.

Debt settlement is a strategy intended to pay off debts for less than you owe in a timeframe less than if you pay the debt in full. Debt Settlements are usually reserved for higher debt amounts of at least $10,000. Usually, the consumer enlists the help of a professional debt settlement company and/or lawfirm.

Those who choose to settle their debt can end up paying less than the full amount they owe. You will usually damage your credit in the short term, and there is a risk of litigration from creditors.

If you are serious about settling your debt, give us a call and we will see if you qualify.

Consumers have recently filed 158 debt or credit card complaints in Escondido.

Date Company and Reason
03/28/2018 A complaint against CAVALRY INVESTMENTS, LLC was filed on 03/28/2018 regarding debt collection practices
02/23/2018 A complaint against DISCOVER BANK was filed on 02/23/2018 relating to debt collection practices and alleges that DISCOVER BANK is attempting to collect a debt not owed by the consumer.
01/18/2018 A complaint against BANK OF AMERICA, NATIONAL ASSOCIATION was filed on 01/18/2018 regarding credit card or prepaid card practices
10/19/2017 A complaint against Convergent Resources, Inc. was filed on 10/19/2017 relating to debt collection practices and alleges that Convergent Resources, Inc. is attempting to collect a debt not owed by the consumer.
09/15/2017 A complaint against Diversified Consultants, Inc. was filed on 09/15/2017 relating to debt collection practices and alleges that Diversified Consultants, Inc. is attempting to collect a debt not owed by the consumer.
09/06/2017 A complaint against Rash Curtis and Associates filed on 09/06/2017 alleges that Rash Curtis and Associates is utilizing inappropriate communication tactics with the consumer during debt collection attempts.
08/17/2017 A complaint against CAPITAL ONE FINANCIAL CORPORATION was filed on 08/17/2017 regarding credit card or prepaid card practices
08/11/2017 A complaint against Quall Cardot LLP was filed on 08/11/2017 regarding debt collection practices
08/11/2017 A complaint against DISCOVER BANK was filed on 08/11/2017 regarding credit card or prepaid card practices
08/07/2017 A complaint against Alpha Recovery Corp was filed on 08/07/2017 relating to debt collection practices and alleges that Alpha Recovery Corp is attempting to collect a debt not owed by the consumer.

Last updated: 2018-04-12

Top Reasons for Debt in Escondido

OverSpending

The single most common form of debt help that people seek is for credit cards that got out of control.

Divorce

If you are going through a change in marital status in Escondido and can't pay all of the bills, we may be able to help.

Job Loss

When unemployment in Escondido rises, many consumers are left unable to pay their bills. Debt management options are available.

Medical Bills

Unexpected medical expenses happen. A simple treatment can be billed at outrageous rates. Many consumers prefer to settle their medical debt.

San Diego County, California annual city consumer debt rankings are in. We have analyzed the average consumer spending behavior across 36 cities and towns in San Diego County, CA. The average citizen in Escondido is spending approximately $399 more dollars than they earned annually, compared to the average of $390 across California. All statistics according to the latest data(2016).

Highest Debt Cities in San Diego County California

  1. Eucalyptus Hills ranks 1st out of 36 cities in San Diego County in consumer debt accumulation with $104 per resident on average in 2016.
  2. Rancho San Diego ranks 2nd out of 36 cities in San Diego County in consumer debt accumulation with $125 per resident on average in 2016.
  3. Campo ranks 3rd out of 36 cities in San Diego County in consumer debt accumulation with $131 per resident on average in 2016.
  4. Valley Center ranks 4th out of 36 cities in San Diego County in consumer debt accumulation with $144 per resident on average in 2016.
  5. Santee ranks 5th out of 36 cities in San Diego County in consumer debt accumulation with $150 per resident on average in 2016.
  6. Coronado ranks 6th out of 36 cities in San Diego County in consumer debt accumulation with $159 per resident on average in 2016.
  7. Poway ranks 7th out of 36 cities in San Diego County in consumer debt accumulation with $166 per resident on average in 2016.
  8. Spring Valley ranks 8th out of 36 cities in San Diego County in consumer debt accumulation with $184 per resident on average in 2016.
  9. San Diego Country Estates ranks 8th out of 36 cities in San Diego County in consumer debt accumulation with $184 per resident on average in 2016.
  10. Chula Vista ranks 10th out of 36 cities in San Diego County in consumer debt accumulation with $189 per resident on average in 2016.
  11. Carlsbad ranks 11th out of 36 cities in San Diego County in consumer debt accumulation with $208 per resident on average in 2016.
  12. Lakeside ranks 12th out of 36 cities in San Diego County in consumer debt accumulation with $215 per resident on average in 2016.
  13. La Presa ranks 13th out of 36 cities in San Diego County in consumer debt accumulation with $232 per resident on average in 2016.
  14. Solana Beach ranks 14th out of 36 cities in San Diego County in consumer debt accumulation with $243 per resident on average in 2016.
  15. Alpine ranks 15th out of 36 cities in San Diego County in consumer debt accumulation with $257 per resident on average in 2016.
  16. Lemon Grove ranks 16th out of 36 cities in San Diego County in consumer debt accumulation with $282 per resident on average in 2016.
  17. Encinitas ranks 17th out of 36 cities in San Diego County in consumer debt accumulation with $287 per resident on average in 2016.
  18. Fallbrook ranks 18th out of 36 cities in San Diego County in consumer debt accumulation with $305 per resident on average in 2016.
  19. Lake San Marcos ranks 19th out of 36 cities in San Diego County in consumer debt accumulation with $309 per resident on average in 2016.
  20. Jamul ranks 20th out of 36 cities in San Diego County in consumer debt accumulation with $312 per resident on average in 2016.
  21. Bonita ranks 20th out of 36 cities in San Diego County in consumer debt accumulation with $312 per resident on average in 2016.
  22. Harbison Canyon ranks 22nd out of 36 cities in San Diego County in consumer debt accumulation with $317 per resident on average in 2016.
  23. National City ranks 23rd out of 36 cities in San Diego County in consumer debt accumulation with $348 per resident on average in 2016.
  24. El Cajon ranks 24th out of 36 cities in San Diego County in consumer debt accumulation with $349 per resident on average in 2016.
  25. Bostonia ranks 25th out of 36 cities in San Diego County in consumer debt accumulation with $350 per resident on average in 2016.
  26. Ramona ranks 26th out of 36 cities in San Diego County in consumer debt accumulation with $351 per resident on average in 2016.
  27. Winter Gardens ranks 27th out of 36 cities in San Diego County in consumer debt accumulation with $362 per resident on average in 2016.
  28. La Mesa ranks 28th out of 36 cities in San Diego County in consumer debt accumulation with $386 per resident on average in 2016.
  29. Escondido ranks 29th out of 36 cities in San Diego County in consumer debt accumulation with $399 per resident on average in 2016.
  30. Rainbow ranks 30th out of 36 cities in San Diego County in consumer debt accumulation with $412 per resident on average in 2016.
  31. Oceanside ranks 30th out of 36 cities in San Diego County in consumer debt accumulation with $412 per resident on average in 2016.
  32. San Marcos ranks 32nd out of 36 cities in San Diego County in consumer debt accumulation with $422 per resident on average in 2016.
  33. San Diego ranks 33rd out of 36 cities in San Diego County in consumer debt accumulation with $447 per resident on average in 2016.
  34. Casa de Oro-Mount Helix ranks 34th out of 36 cities in San Diego County in consumer debt accumulation with $456 per resident on average in 2016.
  35. Imperial Beach ranks 35th out of 36 cities in San Diego County in consumer debt accumulation with $467 per resident on average in 2016.
  36. Vista ranks 36th out of 36 cities in San Diego County in consumer debt accumulation with $529 per resident on average in 2016.
How does San Diego County rank in California?
California County Debt Distribution

12 counties in California accumulated $500+ in debt in 2016. Escondido averaged $399 per resident.

Debt-Consolidation.com

We can help settle your debt for less.

We've helped thousands and have an A+ rating with the BBB.

Receive a personalized plan based on your debt and income.

Get out of debt sooner and pay less.

Debt Consolidation