Massachusetts (MA) Debt Relief | Allow CuraDebt to Help You Get Your Debt Fixed

Are you currently struggling to manage your finances and do you live in the Bay State? Do you feel like your debt has become unmanageable? Maybe you do not know what to do or where to look for help.

Our Massachusetts debt relief program at CuraDebt may be what you have been searching for.

We know the topic of debt can be scary, embarrassing, stressful and intimidating to come to terms with and talk about. Our team at CuraDebt is made up of professionals who are not only knowledgeable on everything debt related but also compassionate, sympathetic, and trustworthy.

CuraDebt is a national debt relief company for more than 20 years! It was created with the intention to help individuals and small businesses who were struggling with debt and needed a guiding hand in getting their finances in order. 

At CuraDebt, we pride ourselves on our experience and satisfied customers, which shows in our online reviews

We know debt can become a burden and takes a toll on your life. We know it has the ability to turn your life upside down. That is why we are here, to guide you and steer you in the right direction so you can enjoy the life you deserve! 

Check out our website here to better understand who we are, what we do, and how we can help YOU. 

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Table of Contents

  • Get your free savings estimate at CuraDebt or give us a call at 1-877-850-3328.
  • Review the different options for debt relief at CuraDebt, to maximize your savings.
  • Unable to speak with a counselor? Check out our free online analysis here.

Massachusetts Debt Statistics

For average household income, Massachusetts scores yearly in the top in the United States, in 2020 being $84,385. That is very impressive when looking at an overall States economic health. However, it is important to note that the cost of living is associated with higher salaries. In 2022, Massachusetts saw for the first time its median single family home price hit over $600,000. So, although the average salaries are strong for the U.S., do not forget that the cost of living is astronomical compared to other states. 

According to Credit Karma, Massachusetts ranked #5 for debt-to-income (DTI), with a ratio of 1.29. 

Many Massachusetts residents carry copious amounts of debt when it comes to credit cards, mortgages, interest rates and even medical bills. 

When faced with debt, it may feel as though the light at the end of the tunnel is not visible. Debt fatigue can take over your life and make it feel as if there is no way out. 

That is why CuraDebt was created. To step in and help you realize there are solutions. 

If you are experiencing debt and need assistance, get your free estimate today from CuraDebt

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Massachusetts Consumer Protection Laws

If you are a resident of Massachusetts and are being contacted by debt collectors due to unpaid bills and loans, it is important that you understand the laws of what the debt collectors can and cannot do to protect yourself.

In 1977 the federal government created the Fair Debt Collection Practices Act (FDCPA) to protect the U.S. citizens from unruly and abusive debt collectors. The law was put into place to restrict the debt collectors from calling during specific times of the day as well as how many times they could call one specific person. If the debt collectors disobey the FDCPA, the debtor can sue that debt collection company. 

In Massachusetts, the local government has additional laws put into place to protect their residents called the Massachusetts Consumer Protection law and Massachusetts General Laws Chapter 93A (M.G.L c 93A. The Massachusetts government website has useful information regarding the different regulations that the Attorney General has issued for unfair practices of Massachusetts consumers who have been contacted by debt collectors. 

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If you have received harassing and uncountable calls from debt collectors, you should consider speaking with an experienced counselor at CuraDebt. We will examine the situation and determine if you have a solid case against a collector who has violated the federal and state laws.

The Most Successful Debt Relief Options for You in Massachusetts

What Is Debt Settlement and How Does It Work? 

Debt settlement, which is also called debt negotiation, debt relief, or debt adjustment, is a negotiation process between you and your creditor to fight for the least amount owed in debt. This can also be done between your hired company, such as CuraDebt, where they will negotiate on your behalf.

With a Debt Settlement Program, you can reduce late charges, interest rates, and other costs. 

If you are unable to pay the full amount due to any issue, the professional expertise of CuraDebt can help to reduce some burden.

CuraDebt will use its 20+ years of experience and knowledge to assist you in getting the best possible debt terms. As soon as you get a personalized settlement letter, you can be assured that becoming debt-free is obtainable in the future.

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Benefits of Debt Settlement

Debt settlement has great benefits. Some of these include: 

  • Alternative to filing for bankruptcy
  • Reduce your total debt amount 
  • Pay back your debts in less time

Factors Affecting Debt Settlement

After debt settlement, the total savings depend on a variety of circumstances, including:

  • How much experience the debt settlement organization you hire has
  • How long you have had the debt for 
  • Your financial standing
  • The record of your payment history

Debt Included in Debt Settlement Programs in Massachusetts:

  • Credit cards
  • Car repossession (repo)
  • Credit unions
  • Department store cards
  • Old accounts in the collection
  • Personal loans
  • Personal lines of credit
  • Private student loans
  • Signature loans
  • Medical bills
  • Any type of unsecured debt

Debt Not Included in Debt Settlement Program in Massachusetts:

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

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Debt Which Are Included in Tax Debt Relief in Massachusetts

CuraDebt will help you in directing you in the right path if you are dealing with tax debt. CuraDebt can assist you with these types of tax payments:

  • State Taxes
  • Federal Taxes
  • Payable Taxes
  • Taxes from the spouse you feel you do not owe
  • Interest
  • Penalties
  • Audit Tax Assessment
  • Other Types of Tax Debts

Massachusetts Business Debt Relief Program

CuraDebt will Help Your Business with These Types of Debt:

  • Business Debt
  • Suppliers
  • Vendors
  • Lines of Credits
  • Merchant Cash Advance
  • Other types of loans, which are unsecured

Top Cities in Massachusetts Where You Can Find Debt Settlement:

  • Boston, MA 
  • Cambridge, MA 
  • Worcester, MA 
  • Springfield, MA 
  • Lowell, MA
  • Fall River, MA 
  • Newton, MA 
  • Malden, MA 
  • Brockton, MA 
  • Framingham, MA 
  • Plymouth, MA 
  • Lawrence, MA 

In addition to the above-mentioned cities and towns, we serve all areas in Massachusetts.

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Your Options for Debt Relief in Massachusetts

There are many debt relief options available for all residents in Massachusetts. Being able to have these different options gives you the ability to reduce or eliminate your debt. Learn how to manage your monthly payments regularly or understand your capability in filing for bankruptcy and starting over. 

  1.  Make consecutive monthly minimum payments 

One of the first options to try and lessen your debt is to make the monthly minimum payments. This typically comes with organization on your finances as well as understanding how long this may take. One of the key issues with doing this is a substantial portion of the payment is going towards interest for the loan.

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

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 you 10 to 20 years

In short, taking this option may seem simple but it will make your life so much more complex in the long term!

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  1. Debt Settlement in Massachusetts

Debt settlement (also known as debt forgiveness, debt negotiation, arbitration), is the process of a debtor and creditor negotiating to lessen the total amount due to them. Once there is a final amount agreed upon, the payment needs to be given in one lump sum instead of in monthly installments. Once the debt settlement is completed, the creditor can no longer heckle you for money. 

This can be done on your own however it is important to consider hiring a professional party such as CuraDebt because there are many circumstances that come into play in order to get the highest deduction and these companies know the ins and outs of the process. The different circumstances include your income, the state you live in, the age of the debt, your own age and what type of debt you have. 

CuraDebt will use its 20+ years of experience and knowledge to get you the best outcome. Do not believe us? Check out our Google Reviews, our clients have extraordinary things to highlight about us!

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  1. Credit Counseling / Debt Management Programs (DMP) in Massachusetts

Credit counseling offers DMPs for people who are struggling with high interest unsecured loans, like credit cards, where you do not have to take out a bank loan. These agencies are run by non-profit organizations. 

With a DMP, you will be able to lower your monthly payments and interest rates. The creditor reduces your interest rate in exchange for a monthly payment.

DMPs typically will not include your secured debts (such as auto loans, mortgages, or home equity loans) and some types of unsecured loans (such as student loans). 

Credit counselors can offer guidance, but you will usually have to oversee those payments yourself.

When paying through DMPs, your debts will be consolidated into one payment which will simplify your financial obligations. DMPs are not for everybody, so make sure you do your research and understand what they offer, and their cons may be.

Your creditors may also examine your credit reports and force you to stop using credit cards that are not part of the DMP, while you engage in the program.

Therefore, DMPs may not be the best option for you

  1. Massachusetts Unsecured Debt Consolidation Loan

Unsecured debt consolidation can make your life more manageable and organized. Unsecured debt consolidation is a type of approach to pay off more than one debt that has high-interest rates with just one low-interest loan. For consumers who are dealing with multiple unsecured debts it makes paying your bills much simpler and more uncluttered by combining those debts into one loan or monthly payment. 

You no longer worry about when each payment is due multiple times per month because the loan will all be in one single payment. 

An unsecured debt consolidation loan is where a loan is given out without any collateral. These loans include credit cards, student loans, medical bills, and personal loans. 

Unsecured debt consolidation loans are only backed by the borrower’s promise to pay the money back. However, unlike secured loans, they do not have anything physical that they can claim. That makes this option very risky for lenders.

One of the major negatives about unsecured loans are if you default on a payment, your credit score can be negatively affected. Once this happens, your remaining balance will be handed off to a debt collection agency and you will receive calls and even a lawsuit. 

Speak with CuraDebt today to get an expert opinion on what the best option is for you. 

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  1. Secured Debt Consolidation Loan in Massachusetts

A secured debt consolidation loan is the same thing as an unsecured loan; however, the major difference is that the loan is backed by collateral. Such collateral may be a mortgage, an auto loan, or property. If the borrower defaults on their payments, the lender can make a claim against the asset and the borrower loses the asset. 

Obtaining secured debt consolidation loans can be easier in certain situations because the lender takes less risk. They know that if the borrower defaults, they will get their money back regardless.

The major negative about obtaining a secured debt consolidation loan is that if you default, you risk losing your home or such. Imagine having to tell your family you are now homeless because you were unable to make payments? 

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. 

  1.  Balance Transfer of Payments

This option may sound like the perfect scenario. You take one balance from one credit card, and you transfer it to a new credit card. However, usually when something sounds this good, there is usually a catch. 

This is the process of moving debt from one credit card that has a high interest rate and transferring it into another credit card that has a 0% APR (annual percentage rate) or a much lower interest rate than before. This is typically done because people want to move the amount they owe to a credit card with a significantly lower interest rate with better benefits such as cash back rewards or additional points. 

Balance transfer credit card offers typically come with an interest-free introductory period of 6-18 months, and some can even be longer. 

However, if you breach the agreement with the cardholder, you can potentially revoke the APR and cause penalty rates to be applied. That means you will be left with a new credit card that may even have an even higher interest rate than originally. 

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  1.  File for Bankruptcy

The last option for any person in Massachusetts is declaring 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 cannot 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 – who can explain the ramifications of filing for bankruptcy and the long term effects that may come with it.   

  1.  Merchant Cash Advance (MCA) in Massachusetts

A Merchant Cash Advance loan is a loan for businesses in Massachusetts that need extra cash to cover various business activities. 

If you need some extra cash to run the business, but your payments are stuck due to some reason, you can take an MCA loan

An MCA loan secures against business receivables. If you do not pay the money back, the lender will collect receivables against your business. 

Massachusetts residents take their businesses seriously and it shows in the data on the state. Your business is an asset and something you can leverage to relieve yourself of debt, so it may seem like a wise option. However, if you fail to repay the MCA, you risk not only yourself and your business but also the employees and your clients.

Additionally, if you are solely or primarily receiving your income through this business – any threat to your income will further harm your chances of paying off your debt.

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While debt is crushing to individuals and families, with professional help and guidance you will start to see improvements. That is why a truly experienced firm like CuraDebt is necessary for your debt relief. Learn more about it here.

Massachusetts Residents FAQs Regarding Debt Relief

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

Written and oral contracts have a statute of limitation of 6 years. If the debt collector has seized a judgment against the debtor, the statute of limitations extends to 20 years.

Do You Qualify for Debt Settlement in Massachusetts?

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

Are you suffering from debt issues and must 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. 

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How Much Will It Cost?

There are many types of debt relief programs at CuraDebt available in Massachusetts, each with different terms and conditions. 

Some programs provide immediate help while others require that you wait until their payment plan begins before getting any money back in return for paying off your debts faster than normal. 

With unmatched service, CuraDebt gives you the best competitive rates. Most importantly, CuraDebt’s Debt Relief Program does not require an upfront fee.

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

  • We have helped settle millions of dollars of debt 
  • We have helped thousands of people since beginning in 1998 
  • CuraDebt is one of the oldest and most experienced debt relief companies
  • We are IAPDA and BSI certified
  • We provide free saving estimates and create a plan specifically modeled toward your needs.
  • No hidden charges. We are transparent about everything. Honesty and integrity are what we stand for.
  • Client satisfaction and fulfillment is the driving goal at CuraDebt.
  • 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.

Finding our clients, the best possible settlement with creditors is something we know how to do.

  • We help settle debts quickly. We are 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.

Get rid of your high-interest-rate debt and create a debt-free future with us. 

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

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