Increasingly, Stafford residents are enlisting our services find the best debt management and credit counseling companies in Stafford, TX.
We connect you with credit counselors and debt management companies in Stafford to help you get the debt relief you need.
The majority of folks interested in Stafford credit counseling have these characteristics:
- Owe at Least $2,5000
- Steady Income
Bear in mind that credit counseling isn’t going to eliminate what you owe. However, it is measurably better for your credit than debt settlement.
Your debt to income ratio helps to determine how much you’re in need of credit counseling. Have a look at some estimates consistent with a salary of $2,101 on a monthly basis. That’s the average in Stafford.
- $756 (36%): Ideal
- $756 to $903 (36-43%): Okay
- $903 to $1,051 (43-50%): Too High
- $1,051 plus (50%): Extreme
Managing Debt in Stafford (TX)
Have you got at least $10K of credit card debt or have monthly payments related to rent, loans, or credit cards that cost 50 percent your earnings? Then you might need to register for a debt management plan (DMP). A debt management program is a method of consolidating debt, because your payments to creditors will be condensed into a single amount, but no loans are needed. With a debt management program in Stafford, TX, the credit counseling agency will carry out paying the credit card companies each and every month. Pretty much all you need to do is make sure they get a single payment on a monthly basis.
Keep in mind, credit counseling programs can help you pay off your debts faster and at a lower APR, but you still will be repaying all your debts as well as interest. Credit card debt negotiation may make it possible to pay just 40-60% of your debts, but it could demolish your credit score.
Avoiding Credit Counseling Ripoffs: Stafford (TX)
As an industry, credit counseling has been vetted by the Federal Trade Commission and other governmental regulators. But stay clear of any credit counselors that advertise they’re able to:
- End all debt collector calls
- Get rid of unfavorable items from your credit file
- Reconcile guaranteed debt
- Bill you in advance for their services
Bear in mind that being a non profit doesn’t always mean that a credit counseling company is respectable.
Credit counseling does not reduce the existing amount you owe. Thankfully, your monthly payments should be lower on account of discounts in interest rates and penalty charges.
One of the leading Stafford debt experts can examine your finances and let you know how much you could save.
Usually, the counseling aspect costs nothing. Debt management plans in Stafford are quite affordable. They will run you $25-$35 per month, and the cost is built into the amount you pay each month. In a debt management plan, the money you allocate each month to repaying what you owe is typically the same as the minimum payment on your credit cards (usually 2.5%). The following is a summary of how much this is, based on various levels of total debt.
| Debt | 2.1% | 2.5% |
|---|---|---|
| $5000 | $105 | $125 |
| $10,000 | $210 | $250 |
| $20,000 | $420 | $500 |
| $25,000 | $525 | $625 |
| $30,000 | $630 | $750 |
| $35,000 | $735 | $875 |
| $40,000 | $840 | $1000 |
| $65,000 | $1365 | $1625 |
| $80,000 | $1680 | $2000 |
| $90,000 | $1890 | $2250 |
| $95,000 | $1995 | $2375 |
Credit Counseling / Debt Management Agencies: Stafford (TX)
- Fresh Start Counseling Center, 10101 Southwest Freeway # 432, 77477
- Money Management International, 12603 Southwest Fwy, #625, 77477
