You might be able to negotiate a debt settlement for thousands less than you ever imagined, and prevent bankruptcy to boot.
At Texas Debt Consolidation, we can match you to a debt settlement agency in Corpus Christi – this minute – who works with Corpus Christi residents.
You will need to speak to a debt relief professional to determine whether or not debt settlement meets your requirements.
According to the FTC, Corpus Christi debt settlement solutions are required to disclose the following information before you get started. They establish their fees, their timeline, and the hazards you are up against. You’ll want to find out if your Corpus Christi, TX debt settlement company is legit by researching the following:
- Certification: Top certifications include TASC and IAPDA.
- Fee Structure: Confirm that the rates they demand are appropriate.
- Customer Testimonials: Look for positive responses from recent clients.
Debt settlement services offer up several big benefits:
- Significant Debt Reduction
- Substantial Interest Savings
- Quick 2-3 Year Schedule
- Adjustable Repayment Structure
- Alternative to Bankruptcy
However, it involves placing funds into a savings account month after month instead of repaying your credit card bills. Then you send them the arranged amount. As you can imagine, settling your debts like this will hurt your credit scores.
How much will debt settlement save you? Find out today!
Reducing your debts in this fashion does have a number of drawbacks:
- It’s very bad for your FICO rating.
- Debt not fully paid back.
- Credit card companies may refuse negotiation.
- Debt builds while debt reduction is being arranged.
- Collection calls might not be reduced.
- Tax disadvantages.
You ought to understand that credit card companies can sue a borrower so as to go after an outstanding debt. There is a greater risk of litigation. Why is that? Simply because you stop paying your creditors.
A a debt settlement attorney in Corpus Christi, TX, can’t keep a creditor from filing suit.
If you have $10,000 in credit card or unsecured loan debt, can’t make your payments, and would rather eliminate your debt than have good credit, debt settlement might be the right idea.
Of the 278,829 people who live in Corpus Christi, 27,621 are believed to owe credit card debts in excess of $10,000.
Apart from your total debt, you’ll want to look at your debt in comparison with your income.
In short, if you are allocating over 50% of your wages to credit cards, rent, and/or loans, you must get in touch with a debt relief consultant. Given that the average income in Corpus Christi is $1,181 on a monthly basis, we’re talking about $591. You really need to have a ratio of about 36 percent, or $425 for the average Corpus Christi resident.
Debt settlement and consolidation have one thing in common: a consolidated payment amount, but the commonalities end there. All of these are methods of debt relief. Settlement is special in that it brings about a real decrease in the amount owed. With debt management, consolidation, and counseling, your payment amount is minimized, but you continue to pay back the credit card issuers until your debt is fully paid. There’s no doubt that this is better for your credit rating. Then again, the only debt savings come from reduced rates of interest and late fees. Read this article to find out more about debt consolidation in Corpus Christi.
Fee Structures for Debt Settlement
No debt relief agencies in Corpus Christi are allowed to bill you in advance. Any qualified debt settlement service in Corpus Christi, TX, will only charge you once a balance is repaid. Most debt relief options ordinarily involve flat fees.
Generally, settlement companies charge a percentage of the amount you want settled, often about 15 percent. This service charge will most likely be assessed over 1-2 years.
Corpus Christi, TX Debt Settlement Firms
- Christian Credit Counseling, 5262 S Staples St, #300, 78411
- Pacific Credit Corporation, 3765 S Alameda St, 78411
- Unique Credit Services, 555 S Shoreline Blvd, 78401
- CC Credit Solutions, 6601 Everhart Rd, 78413
- Consumer Credit Counseling Service Of South Texas, 1706 S Padre Island Dr, 78416
- Check Into Cash Advance Payday Loan Center, 1502 Airline Rd, 78412
- RW Mortgage Services, , 78347