Can cable bills be consolidated?
Can cable bills be consolidated? I am still a customer with them.
Debt consolidation is when you consolidate multiple lines into one new loan or debt consolidation program - it typically involves a debt consolidation loan, but could also be referred to as a credit counseling program or other forms of debt resolution that do not involve a new loan. It is important that you know what your options are and what your goals are before choosing a debt consolidation program or company.To learn more about what options exist I encourage you to visit What Are My Debt Consolidation Options?
If you are currently receiving cable service and seek to consolidate the debt, it is almost a certainty that the cable company will discontinue your service. If you have discontinued your cable service, then there is little reason not to try to negotiate the debt.
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Did you know?
Mortgages, credit cards, student loans, personal loans, and auto loans are common types of debts. According to the NY Federal Reserve total household debt as of Q4 2022 was $16.91 trillion. Housing debt totaled $12.26 trillion and non-housing debt was $4.65 trillion.
According to data gathered by Urban.org from a sample of credit reports, about 26% of people in the US have some kind of debt in collections. The median debt in collections is $1,739. Student loans and auto loans are common types of debt. Of people holding student debt, approximately 8% had student loans in collections. The national Auto/Retail debt delinquency rate was 4%.
Collection and delinquency rates vary by state. For example, in Oklahoma, 14% have student loan debt. Of those holding student loan debt, 11% are in default. Auto/retail loan delinquency rate is 5%.
Avoiding collections isn’t always possible. A sudden loss of employment, death in the family, or sickness can lead to financial hardship. Fortunately, there are many ways to deal with debt including an aggressive payment plan, debt consolidation loan, or a negotiated settlement.