Many Texans are on the verge of deciding whether to pay their living expenses or their credit card payments. Putting food on the table, keeping the lights on, and especially here in Texas, keeping the air conditioning on during the humid summer months take priority. But what are the options available to resolve the debt without declaring bankruptcy?
Debt consolidation usually involves taking out a new loan and paying off existing loans, such as credit cards. But if you’re having trouble making your payments or have fallen behind on your payments, a debt consolidation loan probably isn’t an option. Another way to consolidate debt is through a credit counseling debt management plan. Rather than using a new loan, the credit counselor will lower your current credit card interest rates and distribute your one-time monthly payment to your creditors. You will no longer be able to make any further charges on your listed debt.
A much more aggressive program is sometimes considered a form of debt consolidation because you only make one program payment, but your creditors do not receive normal monthly payments, nor do you use a new loan. to pay off your debt. Debt settlement or debt negotiation is a way to resolve debt for significantly less than the balance owed, including the added savings of not having to pay potentially decades of future interest charges. However, this is a hardship program and should only be considered if you need serious relief and want to avoid bankruptcy.
There are many out-of-state debt relief companies that advertise to Texans on the Internet and on cable television. A Texas-based company that exclusively helps Texans may be much more knowledgeable about the specific consumer protections provided by state law. Some out-of-state debt relief may overcharge Texans for debt relief that is regulated by the state government. Debt Affordable Debt Consolidation is a Texas-based, 100% veteran-owned company that helps Texans find solutions to their credit card debt and personal loans. These options include a free platform to purchase the best debt consolidation loan, credit counseling referrals, or a debt relief program to negotiate the cancellation of a large portion of your debt balances.
If you opt for a debt relief program, Affordable Debt Consolidation negotiation fees are typically 20-40% lower than those charged by most out-of-state companies. If you want to learn more about debt resolution options, call (361) 724-3000 or visit affordable debt consolidation for a free, no-obligation consultation with a Texas debt specialist.