Honokaa 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 Honokaa

Hawaii Consumer Debt Accumulation by County

Honokaa Consumer Debt Accumulation

$236 dollars in debt in 2016

The average Honokaa resident accumulated $236 dollars in debt in 2016. Honokaa citizens racked up a total of $529,900.0 million in debt in the 2016 fiscal year.

What are the Debt Consolidation Options available in Honokaa?

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 Honokaa

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 Honokaa

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 HI

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 26 debt or credit card complaints in Honokaa.

Date Company and Reason
02/22/2018 A complaint against BARCLAYS BANK DELAWARE was filed on 02/22/2018 regarding credit card or prepaid card practices
08/31/2017 A complaint against Diversified Consultants, Inc. was filed on 08/31/2017 relating to debt collection practices and alleges that Diversified Consultants, Inc. is attempting to collect a debt not owed by the consumer.
07/05/2017 A complaint against Hunter Warfield, Inc. was filed on 07/05/2017 relating to debt collection practices and alleges that Hunter Warfield, Inc. is attempting to collect a debt not owed by the consumer.
07/05/2017 A complaint against I.C. System, Inc. was filed on 07/05/2017 relating to debt collection practices and alleges that I.C. System, Inc. is attempting to collect a debt not owed by the consumer.
03/16/2017 A complaint against Seattle Service Bureau, Inc was filed on 03/16/2017 regarding debt collection practices
02/09/2017 A complaint against Focus Holding Company was filed on 02/09/2017 regarding debt collection practices
04/19/2016 A complaint against N.A.R., Inc. was filed on 04/19/2016 regarding debt collection practices
04/19/2016 A complaint against Alorica Inc. was filed on 04/19/2016 regarding debt collection practices
12/23/2014 A complaint against U.S. Collections West, Inc. was filed on 12/23/2014 regarding debt collection practices
12/23/2014 A complaint against Revenue Cycle Management was filed on 12/23/2014 regarding debt collection practices

Last updated: 2018-04-12

Top Reasons for Debt in Honokaa

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 Honokaa and can't pay all of the bills, we may be able to help.

Job Loss

When unemployment in Honokaa 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.

Hawaii County, Hawaii annual city consumer debt rankings are in. We have analyzed the average consumer spending behavior across 31 cities and towns in Hawaii County, HI. The average citizen in Honokaa is spending approximately $236 more dollars than they earned annually, compared to the average of $354 across Hawaii. All statistics according to the latest data(2016).

Highest Debt Cities in Hawaii County Hawaii

  1. Pepeekeo ranks 1st out of 31 cities in Hawaii County in consumer debt accumulation with $129 per resident on average in 2016.
  2. Honokaa ranks 2nd out of 31 cities in Hawaii County in consumer debt accumulation with $236 per resident on average in 2016.
  3. Kailua ranks 3rd out of 31 cities in Hawaii County in consumer debt accumulation with $246 per resident on average in 2016.
  4. Waimea ranks 4th out of 31 cities in Hawaii County in consumer debt accumulation with $280 per resident on average in 2016.
  5. Papaikou ranks 5th out of 31 cities in Hawaii County in consumer debt accumulation with $327 per resident on average in 2016.
  6. Kahaluu-Keauhou ranks 6th out of 31 cities in Hawaii County in consumer debt accumulation with $338 per resident on average in 2016.
  7. Keaau ranks 7th out of 31 cities in Hawaii County in consumer debt accumulation with $352 per resident on average in 2016.
  8. Hawaiian Beaches ranks 8th out of 31 cities in Hawaii County in consumer debt accumulation with $369 per resident on average in 2016.
  9. Wainaku ranks 9th out of 31 cities in Hawaii County in consumer debt accumulation with $377 per resident on average in 2016.
  10. Hawaiian Paradise Park ranks 10th out of 31 cities in Hawaii County in consumer debt accumulation with $382 per resident on average in 2016.
  11. Honaunau-Napoopoo ranks 11th out of 31 cities in Hawaii County in consumer debt accumulation with $383 per resident on average in 2016.
  12. Fern Acres ranks 12th out of 31 cities in Hawaii County in consumer debt accumulation with $385 per resident on average in 2016.
  13. Kalaoa ranks 13th out of 31 cities in Hawaii County in consumer debt accumulation with $387 per resident on average in 2016.
  14. Pahala ranks 14th out of 31 cities in Hawaii County in consumer debt accumulation with $403 per resident on average in 2016.
  15. Honalo ranks 15th out of 31 cities in Hawaii County in consumer debt accumulation with $455 per resident on average in 2016.
  16. Holualoa ranks 16th out of 31 cities in Hawaii County in consumer debt accumulation with $456 per resident on average in 2016.
  17. Hawaiian Acres ranks 17th out of 31 cities in Hawaii County in consumer debt accumulation with $511 per resident on average in 2016.
  18. Kealakekua ranks 18th out of 31 cities in Hawaii County in consumer debt accumulation with $513 per resident on average in 2016.
  19. Volcano ranks 19th out of 31 cities in Hawaii County in consumer debt accumulation with $527 per resident on average in 2016.
  20. Orchidlands Estates ranks 20th out of 31 cities in Hawaii County in consumer debt accumulation with $556 per resident on average in 2016.
  21. Hilo ranks 21st out of 31 cities in Hawaii County in consumer debt accumulation with $573 per resident on average in 2016.
  22. Mountain View ranks 22nd out of 31 cities in Hawaii County in consumer debt accumulation with $677 per resident on average in 2016.
  23. Hawaiian Ocean View ranks 23rd out of 31 cities in Hawaii County in consumer debt accumulation with $683 per resident on average in 2016.
  24. Pahoa ranks 24th out of 31 cities in Hawaii County in consumer debt accumulation with $690 per resident on average in 2016.
  25. Kapaau ranks 25th out of 31 cities in Hawaii County in consumer debt accumulation with $709 per resident on average in 2016.
  26. Nanawale Estates ranks 26th out of 31 cities in Hawaii County in consumer debt accumulation with $711 per resident on average in 2016.
  27. Eden Roc ranks 27th out of 31 cities in Hawaii County in consumer debt accumulation with $727 per resident on average in 2016.
  28. Paukaa ranks 28th out of 31 cities in Hawaii County in consumer debt accumulation with $766 per resident on average in 2016.
  29. Fern Forest ranks 29th out of 31 cities in Hawaii County in consumer debt accumulation with $956 per resident on average in 2016.
  30. Leilani Estates ranks 30th out of 31 cities in Hawaii County in consumer debt accumulation with $977 per resident on average in 2016.
  31. Ainaloa ranks 31st out of 31 cities in Hawaii County in consumer debt accumulation with $990 per resident on average in 2016.
How does Hawaii County rank in Hawaii?
Hawaii County Debt Distribution

0 counties in Hawaii accumulated $500+ in debt in 2016. Honokaa averaged $236 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