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Credit Counseling: Midland (TX)

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Debt has become a major problem for Midland residents.

We can connect you with a credit specialist who can provide you with a free debt evaluation and recommended plan of action.

Most suitable individuals have these qualities:

  • $3,000 in Credit Card Debts
  • Steady Income

Credit counseling has you pay all of the debt you owe on your accounts, including interest. This is far better for your credit scores over time than debt settlement.

>> Get a Free Cost Credit Counseling Quote!

Debt to Income Ratios in Midland (TX)

Credit Counseling Midland TX

Your debt to income ratio, often known as DTI, helps to evaluate whether or not you need credit counseling. Why don’t we consider several figures based on earnings of $17,791 per year. For Midland residents, this is an average income.

  • $534 (36%): Perfect
  • $549 to $623 (37-42%): Okay
  • $638 to $742 (43-50%): Too High
  • $742 or more (50%): Extreme

Debt Counseling Plans: Midland (TX)

Debt Counseling Midland TX

An integral part of credit counseling is managing debt. Why consider a DMP? Because you may enjoy:

  • Decreased APR’s
  • Reduced Debt Collector Phone Calls
  • One Payment Amount
  • Swifter Way out of Debt

You won’t have to speak with your creditors. The credit counseling professional will take care of this.

Tips on Avoiding Credit Counseling Ripoffs: Midland, TX

Credit Counseling Midland TX

If you hook up with an honest agency, credit counseling can be very effective. In fact, the Federal Trade Commission now requires it for individuals declaring bankruptcy not just in Texas, but across the country, but stay away from any credit counseling sites that say that they are able to:

  • End all calls from collectors
  • Eliminate bad things from your credit score
  • Eliminate guaranteed debts
  • Get you out of debt through some government program
  • Bill you upfront for their expertise

Bear in mind, being a not-for-profit doesn’t guarantee that a credit counseling service is reputable, and the opposite is true as well. Please don’t be satisfied with a credit counselor you can’t put your trust in. Let us help you find a good Midland credit counseling professional.

>> Get Your Debt Evaluation Now

Credit Counseling Midland TX

With credit counseling, you repay everything you owe. Thankfully, your creditors may agree to waive service fees and lessen interest rates under a DMP. Let a highly skilled credit specialist look at your finances and present you with a quote for how much you could save.

Credit counselors in Midland who work on a for-profit basis and provide solutions over the telephone are restricted by the FTC from billing consumers upfront.

Enrollment in a DMP should not cost more than $75, and the fees each month ought to be only $40. With a debt management program, the money you set aside each month to paying back your credit balances will likely be equal to your minimum credit card payment: 2.5%.

Below is a summary of how much this is, given various levels of unsecured debt.

Debt 2.1% 2.5%
$20,000 $420 $500
$25,000 $525 $625
$40,000 $840 $1000
$45,000 $945 $1125
$55,000 $1155 $1375
$65,000 $1365 $1625
$70,000 $1470 $1750
$80,000 $1680 $2000
$90,000 $1890 $2250
$100,000 $2100 $2500

Credit Counseling and Bankruptcy in Midland, TX

The credit crunch hurt everyone, and bankruptcies are up in Midland and across Texas. Midland has 114,192 residents, and about 235 have been forced declare bankruptcy. As dictated by law, you must attend a credit counseling course before declaring bankruptcy. The program must be within 6 months of when your filing date. You can complete the session in person, over the phone, or via the internet.

In many instances, taking part in credit counseling post-bankruptcy is also necessary.

To find approved bankruptcy credit counseling programs for Midland residents, follow the link. Or alternatively, you can talk to a seasoned credit professional:

Bankruptcy Credit Counseling Midland TX

Non-Profit Credit Counseling Services in Midland, TX

The nation’s largest nonprofit credit counseling provider is the NFCC. Their network is known as the CCCS, or Consumer Credit Counseling Service. A Consumer Credit Counseling Service in Midland, TX, will normally be a community non profit organization which makes use of an NFCC seal. Generally a CCCS firm will offer Midland bankruptcy counseling, money management courses, and housing counseling. However, non profit credit counseling in Midland, TX, doesn’t imply free. To discover the CCCS agency closest to Midland, TX, please have a look at the list of agencies on our site. If you don’t see one, you can check the NCFF member directory here

>> Get a No Obligation Credit Counseling Assessment

Credit Counseling / Debt Counseling Agencies: Midland (TX)

  • Financial Freedom Inc, 200 N Loraine St, 79701
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