Brice Capital Reviews for Debt Consolidation

Brice Capital debt consolidation

Brice Capital is a great option for consolidating debt to help with your finances. Learn more about whether it’s a good fit through our Brice Capital reviews.

Brice Capital Is Here to Help

Covid has left a lot of people in debt due to loss of work. Brice Capital is one of many lenders who have helped people that are struggling due to overwhelming debt. Many people lost their jobs through no fault of their own. The company they worked for is literally no longer in business. It is not a temporary lay off, it is a permanent life alteration.

Brice Capital reviews are filled with stories of people who were struggling with debt due to the secondary effects of the pandemic and found a path forward. It is among all things possible that you can find the same kind of help. If you find that debt is weighing you down through no fault of your own, See if a Brice Capital debt consolidation is right for you:

Who Is Brice Capital?

Brice Capital does debt consolidation work for people struggling with paying their creditors from month to month. By offering a debt consolidation loan, they make it possible for people to reduce the number of bills they have to keep up with throughout the pay period. Additionally, the payment is reduced, often significantly, from their previous debt service.

What Is Debt Consolidation?

Right now, your total debt is a composite of all the outstanding balances you have with all your creditors such as credit card providers. That could be three or more separate payments you have to make each month not including housing and utilities.

A debt consolidation loan combines those bills into one, easy payment. You make one payment each month and save money in the process. That offers a huge boost in peace of mind, self confidence, and energy. It also contributes in boosting your credit score. As a result of debt and other factors, many have seen their credit score plummet. Fortunately, one can still get debt consolidation for bad credit.

How Does the Debt Consolidation Process Work?

How does debt consolidation work? The process is easier than you think. You first determine if you think a consolidation loan can help you. Then, check out some reviews to find the best debt consolidation product for your needs.

From there, you get a loan equal to the amount you owe to your creditors. Those creditors are paid in full. You make one monthly payment that represents significant savings because you will be paying a lower interest rate. The phone stops ringing with collectors. The threatening letters stop coming. And negative items on your credit report are checked off.

Is Debt Consolidation a Good Idea?

The first thing you need to know about debt consolidation is that it is a loan, like any other loan. A Brice Capital debt consolidation is a loan used to pay off your outstanding, high-interest credit with other lenders. Debt consolidation is a good idea in general. The exact amount of benefit you see will depend on how much you are paying in interest right now.

With an overall lower interest rate, you can save hundreds or even thousands in the long-term. In the short-term, you can save a substantial amount, giving you that bit of necessary breathing room for your budget to come alive. It can also open the door to starting a savings account that can make all the difference when income is reduced.

What Other Benefits Come with Debt Consolidation Loans?

Besides having one bill and one creditor and a lower interest rate, you also gain the positive bump to your credit record for paying off several creditors. If you get the consolidation loan before falling behind, you will benefit from having made on-time payments.

Not long after that, your credit score should take a turn for the better. Making payments on time helps your credit score, even if you have had difficulties in the past. There is no credit so bad that it can’t be improved. Once things start going in the right direction, that improvement happens faster than you might have thought possible.

A potential pitfall to improving your credit score is that you will start getting more and better credit card offers. Those offers will be very tempting. You might use a loan calculator and determine that you are making enough for a new credit card. But you will want to fight the urge. Instead, take the money you save and invest it in an interest-bearing savings account.

If you can wait till your loan is fully paid off, you will be in a much better position to purchase a vehicle. Public transportation is not a viable option in many places. Your prospects for work will increase when you have reliable transportation. Your car payments will be much more manageable when you can pay with a reasonable down payment and a credit score of 700 and above. At that point, many more options are available to you that weren’t before.

How Can Brice Capital Help Consolidate Debt?

Brice Capital is not the end of your financial journey. But it could be a great place to start. If you choose to make Brice Capital the first stop on your road to recovery, they help free you from the oppressive weight of debt so you can breathe again. If you are on a fixed income, have too much month at the end of the money, and frequently have to choose which creditor’s bills will have to wait another month, you should read those Brice Capital reviews and take the next step.

Applying With Brice Capital?

Once you click the link for the Brice Capital application, be prepared to answer a few basic questions. You don’t need exact amounts at this stage. An estimate of your debts and payments will be sufficient. From there, financial freedom is as close as you want it to be. 

Tips to Keep the Debt Monster at Bay

Ever found yourself saying, ‘It’s really easy to spend money, but difficult to pay it back.’ If so, you’re not alone. Many folks struggle with managing their finances. Consider that Americans typically spend $1.33 for every $1 that they earn. That means the US is a highly indebted society, and these trends are growing. The problem is overspending. Living beyond your means is a sure-fire recipe for disaster, and sound money management is needed to curtail these excesses.

Psychologists attribute overspending to emotional drivers. People routinely spend money to feel better about themselves. We spend money to combat boredom, uplift ourselves, or to alleviate stress. Fortunately, there are many other ways to deal with these anxiety-ridden emotions, notably finding zero-expense activities such as exercising, reading and studying, or simply spending time with friends and family.

Are Credit Cards Lifesavers?

Households must guard against the debt trap at all costs. When debt becomes impossibly difficult to repay, owing to high interest payments, a negative spiral ensues. It’s important to prioritize debt repayments, debt management, and debt alleviation above all else. The problem with debt is that it rapidly accumulates, and the interest repayments become untenable. Topping the list are credit cards. These pieces of plastic, infused with sophisticated chip technology, can be lifesavers in an emergency. However, if managed improperly credit cards have the potential to worsen your financial situation.

Consider some of the fees that you are likely to pay on credit cards: cash advance fees which range from 2% through 4% of the amount that you are withdrawing, in addition to a fixed ATM withdrawal fee. There are also late payment fees to consider, often in the region of $39 +, and if you go over your credit limit, a fee of $35 + may be added on to your bill. Many credit cards offer their services at zero annual charge, but others can charge anywhere from $25 – $400 per year. That’s a significant drain on your finances, given that the APR on credit cards is extortionary to begin with.

Always Read the Fine Print

Your first order of business when trying to get out of debt is to manage your outstanding credit card balance well. Transfer your balance from high interest credit cards to a low interest credit card (be mindful of the transfer fees) and pay it down as quickly as possible. In this vein, it’s important to make more than the minimum monthly payment on your credit cards. Consider that credit card companies can change their interest rates at their discretion.

Read the terms and conditions of your credit card provider carefully – you certainly don’t want to be caught unawares. If you are delinquent in any of your credit card accounts, or other lines of credit, you may be penalized with higher interest rates. Another thing to be careful of is the rewards program on offer. You certainly don’t want to be paying a high annual fee and not recuperating your costs in the form of generous cashback offers, exclusive rewards, and related benefits.

How Can You Live Frugally?

We have already established that spending money you don’t have is a recipe for disaster. Instead, look to other activities that are cost-effective and fun to pass the time. The benefit of low-cost rewarding activities far outweighs that of spending excessively and then having to worry about paying it back. People often confuse wants and needs. Wants are desires, and needs are requirements.

We need food, shelter, medical care, and transportation. We want sushi, palatial homes, Ferraris and the like. It is a fine line to balance our wants and needs, but that’s where living within your means comes into the equation. Frugal living allows you to plan for the unforeseen, put away money for retirement, and prevent the debt trap from ever occurring.

There are many theories on how best to deal with the urge to splurge. Some folks advocate freezing your credit card in blocks of ice and waiting for them to thaw when you feel the urge to spend. Others simply recommend cutting up your credit cards every time you are thinking of making a big purchase. What you are effectively doing in all cases is curbing your desire to spend money. That’s the first step in the right direction!

What are you worried about?

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I’ve never really understood why asking people about money is off limits. What are people worried about? Why is it offensive to ask someone how much their new car cost, how big their mortgage is, or how much they are contributing to their 401K? Finances are often a “don’t ask, don’t tell” gig.

Now I’m not saying that everyone needs to be comfortable sharing their financial status with anyone that asks. Obviously if a stranger wants to know how much debt you have, you have my blessing to punch them in the face. Similarly, I believe salary should definitely be kept confidential within the work place (causes too much office drama if Pamela makes more than Carmen). Budgets Are Sexy wrote a great article highlighting the times it is NOT appropriate to ask someone about their income.

One of my favorite ways to learn is through conversation with friends and family. How the heck am I suppose to be financially educated if I can’t really talk about money with anyone I associate with? It’s not like the school systems teach the fundamental of finances. What are we scared of? Are our friends going to judge us because we make too much money, or not enough? Why are things like mortgages, student loans, and credit card debt never to be discussed?

I know where most of my friends stand in regards to their political and religious views, but for some strange reason I feel like they would shoot me if I asked “Have ya been saving for retirement?” Sure, there are situations in which discussing one’s financial situation is inappropriate, but I also believe there are times when finances NEED to be discussed, but aren’t, out of fear of the other party becoming offended. Screw that. I’m laying it all out there. My name is Debt Ninja and this is my financial situation…

Annual Income: $50,547
Cash in Savings: $18,755
Total Debt: $16,877
Percent of income contributed to retirement: 18% + (5% match)
Number of Credit Cards: 3
Annual burrito expenses: $600

You don’t have to be scared. My blog is a “safe place”. No one will judge you no matter what your financial situation. Are you feeling bold? Care to share your financial situation? Any thoughts on why finances are so taboo?

p.s. For those that haven’t commented before, today’s post would be a great day to come out of hiding 🙂