Texas has some of the highest debt per adult resident when compared to other U.S. states.
During the pandemic, many people relied on credit cards to cover living expenses while their income was reduced, and are now unable to afford to even make the minimum payments.
What are the options to resolve overwhelming credit card debt? Debt Redemption Texas Debt Relief will explain below.
If you have excellent credit scores and good income but you’re paying high-interest credit card debt, your best option will likely be to obtain a low-interest debt consolidation loan and pay off the credit cards.
Debt consolidation loans are available from most San Antonio area banks and credit unions. Lenders have different criteria, so your best option is to shop multiple lenders with one platform.
You can receive offers from up to 25 or more lenders providing debt consolidation loans in Texas at affordabledebtconsolidation.com. There is no fee to use this service, and applying to receive offers does not affect your credit score.
If your credit scores are not so good or you have a poor debt-to-income ratio, there is another option to lower your credit card interest rate while having only one monthly payment for your enrolled debts.
Credit counseling debt management plans can work well if your credit card interest rates are high. By enrolling in these plans, your interest rates can be reduced down to 10% or less in most cases. The other huge benefit is the ability to pay off the debt in 5 years or less, since making minimum payments could take decades.
If you need the lowest possible monthly cost and want to eliminate the debt as quickly as possible without bankruptcy, Debt Redemption Texas Debt Relief also provides a program to negotiate forgiveness of a large portion of your balances.
The cost of this program could be less than half when compared to making minimum payments, and the time frame to resolve the debt is typically estimated between 24 to 48 months, depending on your budget.
Many Texans have not been able to pay their debts since the pandemic started, and creditors are flooding the courts, filing lawsuits in an attempt to collect debts. Debt Redemption has a unique ability to provide affordable help in these circumstances by having an exclusive arrangement with who the company feels is the best debt defense attorney in the state of Texas.
Not all debt relief programs are created equal. Many out-of-state companies take advantage of Texans with high fees and false promises. Debt Redemption is constantly enrolling clients in Texas who made the mistake of enrolling with an out-of-state company that sounded great initially, but the company didn’t deliver.
It’s important that companies understand the consumer protections specific to Texas, so that you can take advantage of them during your plan for debt relief. Always research a company with the Better Business Bureau before doing business, advises Debt Redemption Texas Debt Relief.
When choosing a company to either reduce interest rates or negotiate principle balances, research these items beforehand:
- Check that any company offering debt relief in Texas is licensed to do so.
- Research the company with the Better Business Bureau.
- Find out if the company is in Texas or has offices in Texas.
- Find out how long the company has been in business.
- If it sounds too good to be true, it probably is.
Debt Redemption Texas Debt Relief also offers an exclusive advanced hardship program for those who are in more severe financial hardship, and need the lowest monthly cost possible without bankruptcy.
Consultations with a Texas debt specialist are provided via phone or in-person at one of the Debt Redemption Texas Debt Relief office locations, including in San Antonio.
For Texans struggling with more than $3,000, $50,000 or even $100,000-plus in credit card debt or personal loans, Debt Redemption Texas Debt Relief says it offers free, no-obligation consultations.
The company is 100% veteran-owned and BBB Rated A+ and accredited. Click or tap here to learn more.