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Debt Consolidation in Texas (TX)

Isn’t it time to get out of debt? At Texas Debt Consolidation, we can help. It may be possible to repay your debt faster than expected. Some programs involve debt consolidation loans, some do not. Either way, you should pay off 100% of your debt, but you will profit from a simplified payment scheme, as well as less harassment from your creditors. 

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Consolidating Debt Through a Texas Debt Management Plan

Texas is the second most populous U.S state, after California, and Texas also has one of the highest debt rates in the country.

Texas residents carry an average of $10,000 in consumer credit debt per capita. Texas consumers are burdened with low wages and high living expenses, which leads to Texas’s very high rate of bankruptcy. Texas’s strict Texas bankruptcy laws makes Texas residents feel hopeless about their debt situation. The average Texas household has $7,500 in credit card debt and some Texas consumers rack up $11,400 on payday loans with an interest rate of 500 percent! Thousands of Texas households are mired in debt due to multiple high-interest credit cards. Texas consumers who use Texas credit cards to finance living expenses may be tempted to tap Texas equity lines of credit and Texas loans.

Texas residents need a Texas debt management plan, not just more Texas credit. Texas debtors should talk with Texas creditors about getting on a Texas debt management plan. Texas attorneys can help get Texas consumers onto a repayment schedule, Texas debt settlement or Texas bankruptcy plan that will reduce Texas debts and interest rates, protect Texas property from Texas judgment creditors, eliminate Texas collection calls and help Texas consumers get financially healthy.

 A Texas debt management plan can be helpful to Texas residents who have multiple high-interest credit cards with a total balance of $26,100 or more. Texas consumers may want to consult a Texas credit expert.

Texas homeowners can use Texas mortgage refinancing options to reduce Texas home loan interest rates and lower Texas monthly payments. And Texas debt consolidation loans are one of the best ways for Texas homeowners to pay off Texas high-interest rate payday loans or Texas credit cards. Texas debt counselors can provide Texas debtors with Texas debt management plans that will eliminate Texas bounced check fees, Texas overdraft fees, and Texas late payment penalties.

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Debt Consolidation Loans in TX

You will find two major types of debt consolidation loans: unsecured bank loans and loans collateralized by your home, of which the second option is most typical. As opposed to posting checks to a multitude of credit card companies each month, you’ll simply be responsible for your monthly debt consolidation loan payment.

While debt consolidation is widely available throughout Texas, debt consolidation loans are not regulated by the state government. This means that debt consolidation loans are governed by the terms of each individual lender offering debt consolidation. However, there are some general guidelines you can follow to ensure you get a debt consolidation loan with fair interest rates and manageable repayment terms.

The first step is to assess your debt situation. List all debt, including credit card debt, medical debt, and any other personal debt you have accrued. Also, note how much money you make each month after taxes and mandatory deductions from income. You should list all debt from smallest to largest.

This way it will be easier for lenders to see which debts can be paid off quickly. It will also help identify debt that is the result of overspending. Paying debt with debt, or debt snowballing, can slow your debt repayment process and damage your credit score if it is not managed correctly.

Repairing your credit score before applying for a debt consolidation loan will improve your chances of being approved for debt consolidation. If debt snowballing is affecting your debt repayment process, you can list credit cards with the lowest balance first to mitigate debt snowballing’s effects on your credit score.

Once you have determined which debts are most important to pay off quickly, it’s time to find a debt consolidation loan that will meet your needs.


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Debt consolidation services in TX will want to know how much debt you owe that’s non-secured. That means it is not guaranteed by any equity. The most common causes of credit card debt are credit cards, rent, medical expenses, and store cards.

In a perfect world, the amount of debt you owe each and every month will take up about 1/3 of your wages. These debts include credit card bills, loans, and rent or home loan repayments. Let’s suppose you make $3,725 each month, which is about average average in TX, then, if possible, you would spend around $1,341 monthly. Of course, countless Texas residents are carrying severe debt, indicated by a debt to income ratio of 50% or higher. That means they are having to spend more than $1,900 per month!

Just how many people need to get out of debt in TX? We have been able to conclude that 2,107,701 of Texas’s 25,145,561 residents need help with debt.

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Debt Consolidation Standards

As per FTC guidelines, your Texas debt consolidation organization must fully describe:

  • Cost structure.
  • How long before they contact each creditor.
  • How much must be saved before they will reach out to each creditor.
  • How your credit score will be impacted.

For additional information, read these FTC rules of thumb.

Other Forms of Texas Debt Relief

Credit Counseling in Texas

Whereas having your credit repaired is a method to raise your credit rating, credit counseling is focused on managing debt.

Debt Settlement in Texas

Do you want to steer clear of bankruptcy and repay a portion of what you owe? Seeking the help of a solid debt settlement service in TX, is one option.

Regardless of your situation, legal debt relief options are available.