Debt Relief in North Carolina | Recover From Your Financial Hardships With CuraDebt

You’re not alone if you live in the Tar Heel State and you’re struggling to manage your debt. We believe there’s a better way, and we know how to find the solutions you need.

With our North Carolina debt relief program, you may find the solution you have been seeking for a long time.

When it comes to recovering from serious financial hardship, CuraDebt is the trusted company you can count on. We can help you navigate these precarious situations and achieve success.

CuraDebt is the most trusted debt consolidation company with decades of experience. We’ve consulted and helped countless people cure their debt woes. We’re unmatched in our expertise when it comes to properly licensed agents and we’re a one-stop shop to end your debt worries.

With over a decade of experience, CuraDebt has helped thousands of Americans overcome their financial woes by providing sound legal and ethical guidance on their debt. Since its founding in 1998, the company’s leadership has been driven by Eric Pemper when he started his expansion across the country in 2000 to help millions of Americans seeking debt relief.

Learn more about our debt expertise and how you can get the help you need here.

Did You Know: North Carolina is the Birthplace of Pepsi and Michael Jordan!
  • Get your free savings to estimate at CuraDebt or give us a call at 1-877-850-3328.
  • Review various options for debt relief at CuraDebt, to maximize your savings.
  • Not available to speak with a counselor? Check out our free online analysis here.

Debt Statistics in North Carolina 

North Carolina is the 20th most visited state in America, known for its beautiful beaches and the Wright Brothers’ first flight. However, the state also has some rising debts in the country.

If you’re struggling with debt in North Carolina, you’re not alone. In fact, the state ranks among the top 10 in the country for average credit card debt. Fortunately, there are options available to help you get out of debt and improve your financial situation. From debt consolidation to credit counseling, there are a variety of ways to find debt relief in North Carolina. 

Subsequently, every state in the United States has a different response to the rising debt. Some of them have taken steps to decrease it, but others are just dealing with the issue by waiting it out. No matter what your financial situation looks like, there’s hope for finding debt relief in North Carolina. If you have a debt hammering you out, don’t wait any longer. Seek help immediately. 

Let’s explore some of the most popular methods for debt relief in the state and also the resources to help you find the right solution for your unique situation. 

Like most places in the United States, North Carolina’s unemployment rate reached its all-time peak in April 2020, reaching nearly 15%. Although as of September 2022 the state was able to bring that number down to a mere 3.6%, people in North Carolina are still struggling to climb out of debt left by unemployment.

With the cost-of-living increasing so drastically, people in North Carolina are struggling to make ends meet–leading to plummeting financial stability and skyrocketing debt.

North Carolinians have credit scores averaging under 684 which is considered to be “average” or “good”. They also have lower credit card debt than the national average of $5,221 with an average balance of $5,121.

Here are some more North Carolina statistics on debt:

  • On average, North Carolina has some of the highest debt-to-income ratios in the nation. This is one reason why North Carolina ranks as the 15th most indebted state in America.
  • The average Tar Heel resident owes nearly $32,000 in debt.
  • Mortgage debt is the money you owe to a lender for buying a home. In North Carolina, the average mortgage debt per household is $188,520.
  • In North Carolina, the average auto loan debt is $19,944 according to Experian. That’s the 20th highest amount of vehicle debt there is in the United States.
  • Residents of North Carolina have an average of $2,155 in credit card debt. That number lands the state at 29 out of 50 based on the amount of debt on their credit cards.
  • The average person in North Carolina owes about $36,293 in student debt. This number is even higher for those who’ve been trying to pay off their debt for years. There are approximately 1.3 million people in North Carolina still struggling to save money each month to pay off their student loan debts.
  • North Carolina has an average credit score of 704, despite being higher than the national average of 696.
  • North Carolina is ranked 25th in the nation for identity theft, with over 3,000 data breaches since 2012. That means 1.5 million residents have been impacted by these breaches.
  • According to the American Bankruptcy Institute, North Carolina had 6,577 bankruptcy filings in 2021. That was a 35% drop from the year before.

North Carolina Consumer Protection Laws

North Carolina citizens are protected from abusive and harassing debt collectors under the Fair Debt Collection Practices Act (FDCPA). The FDCPA is a federal law that prioritizes consumer safety and ensures no one is harassed or ripped off their basic rights by debt collection companies. It protects consumers from illegal debt-collection tactics and provides limitations on what debt collectors can do when collecting certain types of debt.

The FDCPA is only applicable to the collection of debt obtained by a consumer mainly for personal, family, or household purposes. It is not applicable to the collection of corporate debt, business-related debt, or agricultural use.

If you have experienced disturbing phone calls from creditors, speak with a counselor at CuraDebt. At CuraDebt, our goal is to ensure you get your rights. We will be your advocate in defending you against illegal debt-collection tactics.

The Most Effective Debt Relief Options

Debt Settlement: What is it and How Does it Work? 

Debt settlement is the procedure of negotiating with your creditors to pay less than the full amount that you owe, based on your available funds each month. 

Debt Settlement is also referred to as debt relief or debt adjustment, and it is typically managed by a third-party company, however, if necessary you can do it yourself. Debt settlement options are very helpful, but truly require guidance from a professional. Most importantly, people have been effectively using debt settlement programs for many years. 

At CuraDebt, we help to guide the relationship between the lenders and creditors for your debt. We are with you every step of the way and will educate you, communicate with you, and advocate on your behalf. If you are unable to pay the full amount, the professional expertise of CuraDebt can help to reduce some burden.

CuraDebt will use its decades of background and expertise to help you get the best possible debt terms. As you can see on our Google Reviews, our clients have incredible things to say about our team and our expertise!

Benefits:

With expert help and guidance from a company like CuraDebt, the path to success is much easier. The benefits of a sound debt settlement plan include: 

  • Get relief from devastating debts
  • Avoid bankruptcy 
  • Pay off your debt quickly
  • Lowering interest rates

Factors Affecting Debt Settlement

The final saving after debt settlement lies on a lot of factors including

  • Details about the outstanding debt
  • Current reason for requesting debt settlement (unexpected loss, unemployment termination, etc)
  • Current financial situation
  • Financial/credit history
  • Work experience 
  • The age of the debt

Debt That is Included in Debt Settlement Programs in North Carolina

  • Personal cards (credit cards)
  • Department store credit cards
  • Car repossession (repo)
  • Credit unions
  • Old accounts in the collection
  • Signature loans
  • Personal lines of credit
  • Private student loans
  • Car repossession (repo)
  • Medical and healthcare debt
  • All other types of unsecured debt (ask us if you are unsure!)

Debt That is Not Included in Debt Settlement Programs in North Carolina

  • Car loans
  • Credit Union debts
  • Federal student loans
  • Home mortgages
  • Some other secured debts
  • Some Medical / Hospital bills

Debt That is Included in Tax Debt Relief in North Carolina

  • State Taxes
  • Federal Taxes
  • Payable Taxes
  • Taxes from a spouse you feel you don’t owe
  • Interest
  • Penalties
  • Audit Tax Assessment
  • Other Types of Tax Debts

If you have incurred tax debts, CuraDebt will guide you in the right direction and assist you with these types of tax payments.

North Carolina Debt Settlement By City

  • Charlotte Debt Settlement
  • Raleigh Debt Settlement
  • Greensboro Debt Settlement
  • Durham Debt Settlement
  • Winston-Salem Debt Settlement
  • Fayetteville Debt Settlement
  • Cary Debt Settlement
  • Wilmington Debt Settlement
  • High Point Debt Settlement
  • Concord Debt Settlement

Debt Included in Business Debt Relief Programs in North Carolina

  • Business Expense Debt
  • Suppliers/Vendors
  • Various lines of credit
  • Merchant Cash Advance
  • Other types of loans, that are not secured by the property

CuraDebt understands the value of your business. CuraDebt will help your business with these types of debt.

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What are the Different Options You Have for Debt Relief In North Carolina?

Before giving up and getting stressed, check some of the options that can best suit you.

  1. Make Consecutive Monthly Minimum Payments 

Most major credit cards have the option to pay a monthly minimum. This is a very common option and is quite tempting

However, the most common issues with making minimum payments are

  • You will pay more interest
  • You will continue to build on your debt and dig a deeper hole
  • Your credit score will be affected

There’s a reason credit card companies request monthly fees – they believe consumers can only handle fees for one month of living expenses!

After a few months, the accumulated fee will make it harder for you to get out of debt. Also, as the interest rate rises, getting debt-free will take far longer

In short, this option may seem tempting but it has long-term repercussions!

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  1. Balance Transfer of Payments

Many love the idea of balancing transfers, initially. Quite simply, you take the card you have a high credit line on, open up a new credit card and transfer the balance from one credit card to a new one. This is typically done because people want to move the amount they owe to a credit card with a significantly lower interest rate and receive benefits such as cash-back rewards or points. 

Balance transfer credit card offers typically come with an interest-free introductory period of 6-18 months, and some can even be longer. If you breach the agreement with the cardholder, you can potentially revoke the introductory Annual Percentage Rate (APR) and cause penalty rates to be applied.

When you take on new loans, you have no previous payment history. This puts you in a tight spot to be consistent with payments. 

This may even give an illusion of fraud to lenders and lead to a worse situation. So, balance transfers aren’t a good option.

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  1. North Carolina Non-Profit Credit Counseling Or Debt Management Programs (DMP)

DMP is actually very similar to Debt Settlement Programs, however, DMPs are managed by non-profit credit counseling companies, whereas Debt Settlement Programs are for-profit.

In DMP, the non-profit organization aims to reduce your interest rates and accrued fees or lower your monthly payments by negotiating with your creditors. Unlike debt settlement, you still pay off the principal amount, so your credit score doesn’t take a hit. Credit counselors will work with you and teach you management skills to use towards handling your money and also create a budgeting plan.

DMPs typically won’t include your secured debts (such as auto loans, mortgages or home equity loans) and some types of unsecured loans (such as student loans). Guidance can be offered by credit counselors but you’ll usually have to handle those payments yourself.

Additionally, any credit cards that you include in the DMP, you will need to close which will ultimately decrease your access to credit throughout the month. Your creditors may also watch your credit reports and force you to stop using credit cards that aren’t part of the DMP, while you’re involved in the program.

Therefore, DMPs may not be the best option for you.

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  1. North Carolina Unsecured Debt Consolidation Loan

An unsecured debt consolidation loan allows you to combine all of your debts into one single debt.  Instead of making the standard individual payments to multiple cards or lenders each month, you bundle them into just one payment from one lender. This is usually a lower interest rate than what you would see on one of your credit cards. Unsecured debts are personal debts with no physical collateral. Some examples of this would be medical bills, student loans or credit cards. 

Suppose you are given the option to pay just one loan instead of multiple loans and credit cards.

Wouldn’t it be easier for you to pay just one bill monthly, that’s also at a lower interest rate?

Consolidating debt is a good idea when debt payments are getting out of hand and you can no longer manage multiple payments. 

Unsecured debt consolidation comes with a lot of disadvantages

Debt Consolidation companies are mostly inconsiderate of your hardships and try to make money on your hardships. They employ high fees to take out a loan and are often more aggressive than your current debt collectors

With unfavorable conditions written in fine print, they can dodge customer concerns. These conditions entitle them to increase interest rates which leads to even worse debt.

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  1. North Carolina Secured Debt Consolidation Loan

Secured loans for debt consolidation are loans backed by collateral such as a mortgage or auto loan.  If you own a home, a car, or other types of physical property, you can apply for a secured loan against it. 

This is highly risky since if you default on your payments due to any circumstances, the lender can repossess your property and sell it. That can leave you without a home or vehicle. 

However, if this is done with professional help like CuraDebt, you can get some room to breathe. With the lowest interest rates and highest savings, CuraDebt will come to your rescue. 

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  1. File for Bankruptcy

Often the last option for any person is to declare bankruptcy. If your income is less than the median income of your state,  Chapter 7 bankruptcy will be applicable.

If your income is more than the median income of your state, but you still can not manage to pay back the debt, Chapter 13 bankruptcy will be applicable.

If your business is unable to repay its debt and is on the verge of insolvency, It will fall under Chapter 11 bankruptcy.

Bankruptcy is the last possible and least preferable solution. Before making any decision to declare bankruptcy, you should discuss it with a professional – whom you understand the ramifications that may stay with you for decades. 

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Debt Relief North Carolina FAQs

How Long Can a Lender Go After You to Collect Debt in North Carolina?

In North Carolina, the statute of limitations for debt is three years from the last time your account was used.

Do you Qualify for Debt Settlement in North Carolina?

This program is specifically made for people going through hardships, like loss of income or unexpected expenses

Are you suffering from debt issues and having to pay minimum payments regularly? Are you still struggling under debt, which has grown beyond what you imagined?

To see if you qualify, speak with a counselor at CuraDebt. We will create an estimate of your cash flow to see if you qualify for this program. We will get you a free estimate of your savings on the debt relief program.

CuraDebt will work for you and make your debt settlement extremely cost-effective. With CuraDebt, we help you become debt-free 2-3x faster than normal!

How Much Does Debt Consolidation Cost?

There are many types of debt relief programs available in North Carolina, each with different terms and conditions. The short answer is – it depends.

Everyone’s price truly does depend on their financial history, debt, and CuraDebt audit. While we cannot say an exact answer – we encourage you to reach out to us and learn more about how we can help you. 

With unmatched service, CuraDebt gives you the best competitive rates. Most importantly, CuraDebt’s Debt Relief Program does not require an upfront fee and we provide you with various options – letting you select which is best for you. 

What Makes CuraDebt One of the Best Debt Settlement Companies in North Carolina?

  • We’ve helped settle millions of dollars of debt 
  • CuraDebt is one of the oldest and most experienced companies.
  • We are IAPDA and BSI certified.
  • We provide free saving estimates and create a plan specifically modeled toward your needs.
  • No hidden charges. Honesty and integrity are what we stand for.
  • Our success rate is high because client satisfaction and happiness are the main mission at CuraDebt.
  • Over 1000+ reviews and a 5-star rating on Customer Lobby 
  • With a 4.9 star average on Shopper approved, we are the most trusted company by people across the USA.
  • 140+ Google reviews with an average of 4.8-star ratings
  • CuraDebt is a Good Standing Member of the Online Business Bureau, American Fair Credit Council, US Chamber of Commerce, and AFCC.
  • Getting our clients the best possible settlement with creditors is something we know how to do.
  • We help settle debts quickly. We’re incredibly efficient and cost-effective as well. Our top-notch customer service ensures to address any queries or concerns our clients may have.

With CuraDebt, you are in the right hands. With satisfied customers and zero complaints, we are confident that we are the best in our industry. We are more resourceful than any competitor in the market and help you at every step along the way.

How to Get Started with Debt Relief in North Carolina

If you’re struggling with debt in North Carolina, there are a few different options for debt relief. If you decide to negotiate with your creditors on your own, it’s important to do your research first. You’ll need to know how much you owe, what interest rates you’re paying, and what your rights are as a consumer. Once you have this information, you can start negotiating with your creditors to try to get a lower interest rate or monthly payment.

Filing for bankruptcy should be considered a last resort. It will damage your credit score and make it difficult to get new credit in the future. 

Additionally, you can work with a debt relief agency. They can help you develop a plan to pay off your debt. They will work with you and your creditors to come up with a payment plan that’s affordable for you.

Debt relief can be a lifesaver for North Carolina consumers struggling with debt. If you are considering debt relief, make sure to do your research and understand the process before making any decisions. 

CuraDebt has a proven record of successfully settling debts for more than two decades. Its excellent online reviews and recommendations from prior clients say a lot about its professionalism and expertise in handling debt situations. While there are many reputable companies that offer debt relief services, you need to find one that you feel comfortable with and start working towards becoming debt-free.

If you or someone you know is struggling with debt, don’t hesitate to ask for help. 

Call 877-850-3328 for a free consultation now!

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