Clay Advisors Reviews and Debt Consolidation

Credit cards are a part of daily life: we use them as an easy way to buy groceries, gas, and other regular household items, and plan to pay the bill in full every month. But life happens: a medical emergency, a car breaks down, you need a new air conditioner, one thing after another. And suddenly you don’t want to even open your credit card bills. Now you’re wondering: just how much debt is too much? And maybe you are reading Clay Advisors reviews to decide if they can help you. Let’s start with the first question:

How Much Credit Card Debt Is Too Much?

There are a few simple rules of thumb that let you know if you are carrying too much credit card debt. Ask yourself the following questions:

  • Are you paying only minimum payments on your credit cards each month?
  • Do you find yourself always worrying a little bit about the debt you have?
  • Is your debt-to-income (DTI) ratio greater than 35% — meaning the percentage of your income that goes to paying existing debts is higher than 35%? To figure out your DTI ratio, take the $$ you spend monthly paying debts, and divide by your monthly gross income (before taxes and benefits, etc.).
  • Do you pay some of your bills late or skip payments because you don’t have enough money to pay them?
  • Is your credit utilization over 30%. Credit utilization refers to the percentage of your available credit you are using, so if you have $10,000 credit, and are carrying balances of $3,000, you are using 30% of your credit.
  • More than half of the credit cards you own are maxed out.
  • You don’t know how much you owe in total.

If you answered yes to even one of these questions, then now is the time for you to make an actionable plan to reduce your burdensome credit card debt. Find your way back to the freedom of a debt-free life.

Make a Plan to Become Debt-Free with Clay Advisors

Feel like you have no idea where to even start with getting a handle on your credit card debt? Then it is a good time to reach out for some kind, patient expert advice from people who know credit card debt and how to get out from under it: the financial consultants at Clay Advisors. They can talk to you about debt consolidation and explain how rolling all your debts into a single payment can make it easier to attack your problem.

Can I Trust Clay Advisors?

If you have been to the Clay Advisors website, maybe you have read the reviews of customers who were in circumstances a bit like yours. Clay Advisors reviews are helpful, but sometimes other people’s words aren’t enough. Here’s a different perspective: let’s talk about what exactly Clay Advisors will do for you and decide if those are services that would help you.

  • Assess Your Financial Situation. Clay Advisors can help you assess your situation by walking you through whether you are carrying “too much debt.” A typical evaluation will assess your debt-to-income ratio and your total monthly payments for the debt you are carrying. After evaluating your debt, they can offer real solutions to put you on the path to financial freedom. 
  • Explain How Debt Consolidation Works. Clay Advisors is one of the best debt consolidation companies out there. A financial consultant can explain to you in one simple call how consolidating debt balances into a single payment can help put you on the road to paying off your obligations in full.
  • Make the Call With No Risk to Your Credit Score. Speaking to an advisor at Clay does not impact your credit score, so the call is a free, no-risk step you can take to try to get control of your financial life.
  • What is Debt Consolidation?

Debt consolidation means rolling all your collective debt balances into a single debt — usually a loan, but sometimes a debt settlement program — so that you are paying a single bill instead of many bills. Taking out a debt consolidation loan won’t reduce your overall balance right away, but sometimes it’s possible to make that single monthly payment less than what you are laying out right now, so you can get a little breathing room. 

What Are Pros and Cons of Debt Consolidation? 

Whether a debt consolidation loan is for you depends on your specific financial and personal circumstances. That’s why it’s important to talk to a consultant who can help you understand your position. Here are the general pros and cons of a debt consolidation loan. The consultants at Clay Advisors are at the ready to talk to you and learn more about what you need. 

Pros

  • You can reduce multiple payments down to a single payment
  • You can potentially lower your interest rate
  • Clear a path to debt reduction and elimination
  • Can help improve your credit score after a time

Cons

  • You may not qualify for the lowest rates 
  • Extended loan terms may cost more in the long run
  • There are sometimes origination fees for the loan

How Can Clay Advisors Help Me?

Carrying a significant amount of debt is the number-one financial problem any household needs to address. Having too much debt makes it difficult to borrow money, penalizes you with high interest rates and erodes your credit.

And so making a clear plan to resolve your debt is a the key first step to financial freedom. And will remove a serious blockade to potential future wealth. Learn more about debt consolidation and if it’s right for you, by filling out the Clay Advisors application to see how they can help you today.

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