You might be able to settle your debts for less than you owe, and steer clear of bankruptcy on top of that.
Let us put you in touch with a debt settlement firm based on your debt profile and the town where you live, in addition to one or two additional factors. What’s even better: there are no commitments, and it’s totally free.
Finding a Debt Settlement Company: San Antonio (TX)
For legal reasons, San Antonio debt settlement companies have to provide you with a good bit of information before you join up. They spell out their rates, their savings requirements, and the risks you face.
You’ll want to find out whether or not your San Antonio, TX debt settlement service is legitimate by verifying how many years they’ve been negotiating debt, how much debt they have negotiated, what their success rate has been, what their prices are, and confirm they are qualified to do business in the state of Texas.
Remember: no San Antonio, TX debt negotiation firms are supposed to charge fees upfront!
Negatives of Debt Settlement: San Antonio, TX
Debt settlement programs offer some highly-touted benefits:
- Major Reduction in Debt
- Huge Savings in Interest
- Brief 24-48 Month Schedule
- Adjustable Payment Scheme
- Alternative to Declaring Bankruptcy
However, it has more drawbacks than some other solutions.
With a debt settlement, you just cease making payments to the credit card providers. In lieu, you put funds into a bank account until you have a sufficient amount to pay the settlement arranged by your San Antonio debt settlement agency. Meanwhile, your credit score gets worse and worse. As expected, declaring bankruptcy would kill your credit score too. In accordance with relatively new FTC policies, this savings account has to:
- Be FDIC-insured.
- Give you full withdrawals.
- Not penalize you for withdrawing funds.
Don’t forget, banking institutions do have the right to file a lawsuit against an individual so as to go after an upaid debt. With debt settlement, the chance of your creditors taking legal action rises simply because you quit repaying your creditors each month. Contrary to public opinion, local San Antonio debt settlement attorney can’t keep this kind of case from transpiring. They might be able to handle your case, or they might not.
Statute of Limitations for Credit Card Debt: TX
As a resident of San Antonio, this is what you have to know in relation to the Texas statute of limitations for debt:
- Statute of Limitations: 4 years
- State Statute: 16.004
In order to qualify for a credit card debt settlement program in San Antonio, TX, you ordinarily have to have:
- $10,000 in Debt
- $300 Per Month to Spend
There are 1,311,184 people in San Antonio, and we estimate that 129,886 have credit card balances of more than $10,000.
Individuals with debt to income ratios of 50% or higher are prime candidates for debt relief of some kind or another, whether it be settlement or consolidation.
Let’s suppose you make $2,460 on a monthly basis, which is the San Antonio average. If you spend less than $886 for credit cards, rent/mortgage, and any sort of loans, you have a healthy debt load of 36%). If you spend $910 to $1,033 (37-42%), you may want to cut down on your expenses. If are having to spend $1,058 to $1,230 (43-50%), you are about to experience economic breakdown. If are shelling out more than $1,255, you are in trouble and should obtain professional debt advice right now.
Debt settlement and management have a very important factor in common: just one single monthly payment. But the commonalities stop there. Debt settlement programs lead to a decrease in your debt, whereas consolidation or management doesn’t. You continue to pay back your creditors each and every month under a debt management plan, meaning your credit rating isn’t damaged nearly as drastically as it can be during a debt settlement, during which you quit paying back your creditors. Then again, consumer credit counseling generally takes longer and ultimately you’ll pay off your debt in full. Go here to read more about credit counseling in San Antonio.
Rates for Debt Settlement
Given that it’s the most extreme debt relief option for residents of San Antonio, debt settlement is generally the most expensive.
Normally, settlement firms will charge you about 20% of your debt – that’s a whole lot! Though you should not be required to pay until after they go ahead and settle your debt.
Debt Settlement Services: San Antonio (TX)
- Consumer Credit Counseling Service, 6851 Citizens Pky, #100, 78229
- Better Your Credit, 12011 Huebner Rd, 78230
- Christian Credit Counselors, 8207 Roughrider Dr, 78239
- Continental Credit Repair, 10635 N I-35, 78233
- Credit Quik, 3424 SW Military Dr, 78211
- Frank Carrasco Company www.WhatTheFrank.com, 5804 Babcock Rd, 78240
- Law Office of Charles R Bomba, 11230 West Ave, 78213
- Money Management Counseling, 109 N San Saba, 78207
- Munter William J Attorney At Law, 1100 NW Interstate 410 Loop Frontage Rd, 78213
- Professional Credit Services, 4444 Walzem Rd, 78218
- Secure Credit Svcs, 241297 Po Box, 78201
- Wiars, 10014 Broadway St, 78217
- Caldwell & Tullion III Law Office, 6326 Sovereign Dr, #142, 78229
- Consumer Credit Consultants, 1603 Babcock Rd, #207, 78229
- Credit Medix Inc, 16400 Henderson Pass, 78232
- Clean Credit of Texas, 1603 Babcock Rd, #234, 78229
- Net Worth Systems, 4711 Newcome Dr, 78229
- San Antonio Retail Merchants Association, 1801 Broadway St, 78215
- Cain David T Attorney, 9862 Lorene Ln, 78216
- General Business Service, 3618 W Commerce St, 78207
- I Need A Lift, Incorporated, , 78285
- Davis, Sehnaz Su Loan Officer – Fairway Independent Mortgage Corporation, 1777 NE Loop 410, 78217
- Disrud, Jon R – Disrud & Garcia, 13750 San Pedro Ave, #Ave-290, 78232
- Kirschberg Morris J, 5835 Callaghan Rd, #100, 78228
- Vasquez, Ruben E – Vasquez Law Firm, 100 S Flores St, #719, 78204
- San Antonio Bankruptcy Lawyer-Attorney, 8301 Broadway St, #412, 78209
- Vale Jr, Raymond J – Raymond J Vale Jr Law Offices, 1207 S Presa St, #St-100, 78210
- Rosenbaum, Paul W – Rosenbaum Law Offices, 7330 San Pedro Ave, #Ave-150, 78216
- Kirschberg, Morris J – Morris J Kirschberg Law Office, 5835 Callaghan Rd, #Rd-100, 78228
- Vasquez Law Firm, 719 S Flores St, 78204
- Law Offices of Martin Seidler, 11107 Wurzbach Rd, One Elm Place, Suite 504, 78023
- LLS Bankruptcy Attorneys San Antonio, 200 E Market St, #1, 78205
- San Antonio Bankruptcy Lawyer | James Montgomery PC, 12175 Network Blvd, #175, 78249
- Consumer Credit Counseling, , 78101
- LIFELOCK SAN ANTONIO, , 78201
- Acquirint Credit Card Processing Merchant Accounts, 200 E Market St, 78205
- Credit Counseling – Debt Point, 4100 E Piedras Dr, #251, 78228
- RW Mortgage Services, , 78201
- San Antonio Credit Repair, 276 Stumberg St, 78204
- Dwyre, John – John Dwyre & Association Pllc, 4207 Gardendale St, #104b, 78229
- Achebe, Francis BS – Financial Consulting Group, 11207 Perrin Beitel Rd, 78217
- Consumer Credit Counseling, , 78201
- Credit Restoration of Texas, 4203 Gardendale St, #101, 78229
- Consumer Credit Counseling Service, , 78201
- Montoya, Gabriel Credit Exp – Nova Credit Solutions, 10955 Wurzbach Rd, #901, 78230
- Allied Against Debt, 1520 W Hildebrand Ave, 78201
- Authority on Credit, 5804 Babcock Rd, #318, 78240
- San Antonio Credit Solutions, 18587 Sigma Rd, #260, 78258
- Revamp Financial, P.O. Box 701973, 78201