A professional Harlingen debt negotiator may be able to settle your unsecured debt for less than what you owe. Our objective is to connect you to a debt settlement expert that’s best-suited for your needs. Are you ready to get out of credit card debt?
Finding a Debt Settlement Service: Harlingen, TX
Legally, Harlingen debt settlement specialists must give you some specifics prior to registering:
- Fee Structure: monthly fees are to be thoroughly spelled out.
- Duration: they must say when they will get in touch with your creditors, as well as how much money must be saved.
- Liabilities: they must inform you of the detrimental effects that come as a result of not paying your creditors
Be sure that your Harlingen debt settlement consultant is an honest one. Check the following:
- How many years have they been in operation?
- How many cases have they handled?
- How much are their fees?
- What is their rating with the BBB?
- How successful have they been?
- Are they licensed in Texas?
No Harlingen debt negotiation firms can charge fees before they settle your debt!
Debt Settlement Drawbacks: Harlingen (TX)
Although debt settlement may result in dramatic forgiveness of your credit card debt, it drastically decreases your credit score, so you need to be totally certain that it is the right solution to get out of debt.
Excited about debt settlement? Hang on. There are a few things you should keep in mind. First of all, debt negotiation can result in a poor FICO rating, because your credit card debt will never be fully paid back. Additionally, your collection calls might not grow less frequent greatly, as they do if you work with a credit counselor to manage your credit card debts. The first settlement probably won’t take place for 180 days. While your Harlingen, TX debt settlement agency is negotiating for your benefit, your credit balances will keep growing.
Minimum Criteria for Debt Reduction: Harlingen, TX
Ideal candidates for credit card settlement in Harlingen are carrying no less than $10K of debt, are facing bankruptcy, and can no longer afford to make the minimum payments on their credit lines on a monthly basis.
There are 81,052 people living in Harlingen, and we estimate that 8,029 carry credit card balances of more than $10,000.
Folks with debt to income ratios of 50% or more are perfect prospects for debt relief, whether it be settlement or consolidation.
In a nut-shell, if you are investing over half of your earnings in credit cards, home loan, and/or loans, you’ll want to talk to a debt settlement expert in Harlingen, TX. Considering that the average income in Harlingen is $1,284 on a monthly basis, we’re talking about $642. You want to shoot for a ratio that’s closer to 36%, or $462 for the average Harlingen resident.
Settling your debts and consolidating them are two different strategies. Debt settlement programs involve a reduction in what you owe, and consolidation or management doesn’t. These forms of debt relief – debt consolidation, management, and counseling – don’t do all that much damage to your credit rating in the long term, but these are long-term solutions in which you pay back all of what you owe. For additional details, visit here: debt consolidation in Harlingen.
Being the most extreme debt relief option at your disposal, debt settlement is generally the most expensive. For the most part, settlement firms charge a percentage of the balance you want settled, often as much as 15%. Basically they are restricted by law from assessing a fee until a debt has been repaid.
Harlingen (TX) Debt Settlement Specialists
- Alpha Omega Debt Solutions, 1407 N Expy, 78550
- Alpha Omega Debt Solutions, 1309 E Tyler Ave, 78550
- Consumer Credit Counseling, , 78550
- Consumer Credit Counseling Service, 2202 S 77 Sunshine Strip, #C, 78550