Many Texans are at the point they are deciding 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 air conditioning on during the humid summer months are priority. But what are the options available to resolve debt without filing for bankruptcy?
Debt Consolidation usually refers to taking out a new loan and paying off existing loans, such as credit cards. But if you are struggling to make your payments or have fallen behind in making your payments, a Debt Consolidation Loan is probably not 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 reduce your existing credit card interest rates and distribute your one monthly payment to your creditors. You will no longer be able to make further charges on your enrolled debt.
A much more aggressive program is sometimes considered a form of Debt Consolidation because you are only making one program payment, but your creditors are not paid normal payments monthly nor are you using a new loan to pay off your debt. Debt Settlement or Debt Negotiation is a way to resolve debt for much less than the balanced owed, including the additional 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 advertising to Texans on the internet and cable television. A Texas-based company that exclusively helps Texans may be much more knowledgeable about the specific consumer protection provided by state law. Some out-of-state debt relief may overcharge Texans for Debt Relief which is regulated by the state government. Debt Affordable Debt Consolidation is a Texas-based and 100% veteran-owned company that has been helping Texans find solutions to their credit card debt and personal loans. These options include a free platform to shop for the best Debt Consolidation Loan, Credit Counseling referrals, or a Debt Relief program to negotiate forgiveness of a large portion of your debt balances.
If you decide on a Debt Relief program, then Affordable Debt Consolidation’s negotiation fees are typically 20 to 40 percent less compared to what most out-of-state companies charge. If you would like to learn about options to resolve debt call (361) 724-3000 or visit affordable debt consolidation for a free and no-obligation consultation with a Texas Debt Specialist.
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