We Help rebuild Financial Foundations
Strengthen your financial footing with a low rate debt consolidation loan.
Welcome to Pebblestone
At Pebblestone Financial, we understand there is no one single reason someone is in high interest rate credit card debt. And that’s why we don’t offer a one-size fits all solution. We take time to speak with you, listen to your personal financial history, and create a program that helps you get out of high interest rate credit card while strengthening your financial footing.
Our goal is to free you of your debt burden faster and more affordably by providing lower rate options that may be able to reduce both your monthly payments and the length of time it will take to retire the debt.
Once an application has been completed we determine which programs or loans you may qualify for. If you are eligible, we pair you with a loan company that is able to provide a consolidation loan to immediately improve your financial position and provide a long term method to to solve your debt problems.
Tips on Paying Down Debt
In 2017, credit card debt increased by 5.7% or 11.2 billion dollars to reach a new all-time high of 1.023 trillion dollars in outstanding balances. The average household credit card debt for families who carry a balance rose to $15,654. The increasing household debt could be a sign that you need a more formal strategy for debt reduction.
A few effective tactics, which you can employ to eliminate debt fast include the following:
Strategies to Increase Your Income
Finding a side gig is a popular way to increase income. A second job no longer requires employment at a retail store or restaurant, with a boss dictating when you must work and determining how many hours you get each week.
Today you can sign up for “gigs” and work when you have availability. Options can include online work through websites such as Fiverr, local jobs on platforms such as TaskRabbit, or ridesharing with a company like Uber. Each website connects people who want to hire independent workers and consumers with valuable skills seeking additional income. If you want to pay the debt down faster, you can work the extra hours needed to meet your debt reduction goals.
Volunteer for overtime or extra shifts. Your current job could pay higher rates than side gigs. When possible, accepting an extra shift can lead to an exponential increase in income, due to higher overtime wages.
Sell gently used items you no longer use. Most families have items you have purchased and then never used or only used a couple of times. Selling nearly new things can bring in extra cash to jump-start a debt payoff plan. Websites such as Facebook Marketplace, OfferUp or LetGo make it easy to post and sell unwanted items to local buyers. You can sell unused gift cards on websites such as Raise and get 80 or 90% of the face value depending on the popularity of the store card you want to sell.
Debt Reduction Strategies
Use money from your tax refund. Rather than spending the refund, redirect money towards debt reduction. Even though a refund will likely not tackle all your debt, paying off one card with a smaller balance can give you instant success.
Consolidate debt at a lower rate. When you have a lot of debt, just making extra payments can still take years to reach your debt elimination goals. You can speed up the process by lowering the interest rate with a loan consolidation. You will pay less interest over time, eliminating debt balances faster without requiring higher monthly payments.
Make more than one payment each month. Set up automatic payments on each payday rather than once a month. This strategy will lower the interest charges on your credit cards because the extra payment reduces your average daily balance.
Set realistic goals. Give yourself specific benchmarks you want to reach by a self-imposed deadline. Smaller ongoing goals are easier to achieve than a larger overarching target. Time constraints serve as motivation and give you a way to measure progress.