The Foster and Monroe Blog

Foster and Monroe, LLC is a company based in the Buffalo area. Below is a blog dedicated to providing consumers with efficient and actionable debt reduction information.

Is Quarantine Actually the Best Time to Fix Your Finances?

With the craziness that is 2020, many Americans have found that they have a good amount of extra time. For many, this newfound free-time is filled with working out, picking up new hobbies, and projects around the house. However, for many it is the perfect opportunity to start working on consolidating their debt and organizing their finances.

Payment Plans are More Flexible & Down Payments are Lower

As businesses are being forced to close their doors and citizens told to stay home, companies like Foster and Monroe, LLC have come to understand that consumers may have a more difficult time paying off the debts that they owe. To account for this, many collections companies are making concessions when it comes to repayment plans, down payments, and term agreements. Debtors looking to take advantage of this should act quickly, as it will likely revert to pre-lockdown norms when things eventually return to normal.

If you have received correspondence from Foster & Monroe or other companies, we recommend reaching out to them and seeing what beneficial options they have on offer.

Lower-Than-Ever Interest Rates

In addition to more favorable payment terms, interest rates have dropped to historic lows. This means that those who want to get a loan or refinance are at a significant advantage. By taking advantage of current rates, you could save yourself a lot of money in interest payments over the lifetime of the agreement.

Lower interest rates not only save you money, but will help you fix your credit, as on-time payments over time go a long way towards a better credit score.

Take Action to Repair Credit, Pay Off Debt & Refinance

Whether you need to repair your credit or want to take advantage of lowered interest rates to take out a new loan or refinance, it is clear that now is the time to do it. If you have a debt that needs to be settled, get in touch with the team at Foster and Monroe! We will be happy to work with you and walk you through any options we have available.

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