- Consolidate Your Debts & Save
- Reduce Your Interest Rates
- Lower Monthly Payments
- Remove Late Fees and Penalties
- Simplify Your Life with One Payment
- Help You Get Out of Debt Faster
- Lower Your Monthly Payments
- Pay off Credit Card Debts Faster
- Debt Consolidation Program (Reduce interest, waive late fees and penalties, consolidate high interest debt into one lower monthly payment)
- Debt Settlement Program (Settle high balance credit card debt for much less than you currently owe)
If you need to get relief from multiple high interest credit cards or other unsecured debts – such as medical bills, store charge cards, gas cards, or more – a debt consolidation program may be able to help you get out of debt much faster. This could, not only help to reduce stress, but also save you a substantial amount of money.
Debt consolidation programs, also known as debt management plans (or DMPs), are typically coordinated through a credit or debt counselor who will take the time to go over your current financial situation, look at your unsecured debts, look at how much you can afford to pay each month toward your debts, then submit proposals to creditors on your behalf requesting relief.
Overall, the goal of a debt consolidation program is to provide you with a proven and predicable way to combine or "consolidate" all your debts into a single payment each month by providing a personalized plan that, if followed each month, can help you get out of debt at an accelerated rate.
Debt consolidation could help you:
If you are faced with credit cards and other debts that have made your bills very difficult to manage on your own, a debt relief program may, not only be able to help you get out of debt – but also lower your payments each month. Depending on your current situation, debt relief may also be able to help reduce your interest rates, remove late fees and penalties, or even settle credit card debts for much less than you owe.
With your free debt analysis and savings projection, a debt relief specialist will take the time to go over your current financial situation then customize a debt relief program for you, based on how much you can afford each month.
If you have high interest, or high balance credit cards, you may be on a "credit card debt treadmill" that has become very stressful, and more than you can handle on your own. While avoiding non-essential credit card purchases, and paying down your debts each month, can help you get out of debt – a proven debt relief program may be able to help you get out of debt considerably faster.
Depending on your current financial situation, there are several debt relief programs that may be able to provide you with much needed credit card relief, including:
Depending on the debt relief program that best meets your needs, your free debt relief evaluation can provide you with a projection of how much debt relief could save you – as well as the estimated time required to get out of credit card debt.
- Reduce Your Interest Rates
- Settle Credit Cards for Much Less
- See if you qualify now
If you have high-interest credit cards and other debts and are need of relief – a debt consolidation program could simply your life, help you save money, and get out of debt faster by reducing your interest rates. Though a free debt relief analysis, a debt specialist will go over your existing debts, current interest, and financial situation – then make proposals to each of your creditors on your behalf, requesting lower interest rates and often more favorable repayment terms.
Each creditor who agrees to the proposals are then added to the "debt management plan" – which can not only lower interest rates and remove late fees and penalties – but also help you get on a faster track to get out of debt.
If you have one or more high-balance credit card debts and need to "settle" your debt for less than you owe – a credit card debt settlement program could save a substantial amount of money.
When credit card companies decide to sell off their "bad debt" to debt collection agencies, it is not unusual for credit card companies to sell the debt for as little as ten cents on the dollar. This is not to say that credit card companies will agree to "settle" credit card debt for as little as ten percent of the amount owed, but it stands to reason that credit card companies are often willing to accept a reasonable offer from consumers in distress who offer to pay what they can afford.
A personalized debt relief analysis can provide a savings estimate for credit card settlement. How much debt settlement could save depends largely on the amount of credit card debt involved, the debtor's current financial situation – and the settlement policies of individual creditors.
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A: While millions of people are struggling with credit cards and other debts, no two situations are exactly alike. Many factors will go into determining how much debt relief saves you – including how much you currently owe, what type of debts you have, who your creditors are, what your current interest rates are, and how quickly you are able to get out of debt. In addition, the debt relief program you choose will also affect how much you save. Since everyone's debt circumstances and needs are unique, it's important to get your personalized debt evaluation to see what debt relief could do for you and what your potential savings could be.Q: How does a free debt relief analysis and savings estimate work and how long does it take?
A: A free debt relief analysis should only take a few minutes, but it's the only way to get a clear picture of how debt relief could help you, how much you could save, and how quickly you could get out of debt. With a personal debt relief analysis, a debt relief specialist will go over your current debts, then find out the amount of money you can afford to apply each month toward those debts. Your debt specialist will also take the time to listen to you, answer any questions you might have – and find out how quickly you would like to get out of debt. With this information, your debt relief specialist can then provide you with a debt relief plan or debt relief program that has been customized to meet your needs. Your free debt relief analysis and personal savings projection will not affect your credit.Q: How does debt consolidation work and how could it help?
A: Debt consolidation is the process by which multiple high interest credit cards or other debts are consolidated or "combined" into a single lower interest rate debt. Not only can debt consolidation reduce interest rates and lower your payments, but by providing you with a customized plan to get you out of debt faster, it could also save you a substantial amount of money.Q: How do debt consolidation loans work and could they provide relief?
A: Debt consolidation loans normally involve combining or "consolidating" multiple high interest rate debts into a single lower interest rate loan. The proceeds from the loan are then used to pay off the debt. While debt consolidation can help reduce debts and save money – there is a major drawback that should be carefully considered before proceeding. Typically, debt consolidation loans must be collateralized or "backed" by real personal property, such as your home. Should you take out a debt consolidation loan, run into a rough spot financially, and fall behind on your loan payment – you could risk losing your home. In addition, many people who take out debt consolidation loans to pay off credit cards often end up ringing up a whole new batch of high credit card charges. Now, their situation has gone from bad to worse, with high interest credit cards AND a loan to pay off.Q: How does debt settlement work and how could it help?
A: With more and more people struggling with high interest, high-balance credit card debts – debt settlement programs have become increasingly popular, despite the fact that they will typically impact credit negatively. While the goal of debt consolidation is to pay off all your debt – just at a faster rate – the goal of debt settlement is to "settle" your debt with credit card companies for much less than the full amount owed. A personalized debt evaluation and savings estimate can help you evaluate the benefits of debt settlement.Q: Are debt relief companies allowed to charge upfront fees for their services?
A: No, as of late 2010, debt relief services, unless they are attorney based, are no longer allowed to charge upfront fees for the services they provide. This means these companies may ONLY charge a fee AFTER they have successfully resolved or settled at least one of your debts.Q: Aren't all debt relief companies the same?
A: No, not all debt relief companies offer the same benefits or program features. And, unfortunately there are some debt relief companies that should be avoided because they don't have a strong track record of providing a high level of service to their clients, or a strong customer rating. Perhaps they over-promise when stating the benefits of debt relief. Or, they don't give you a true picture of what the debt relief process requires. Texas Debt Relief is committed to providing visitors with established debt relief companies of integrity who take the time to carefully explain your debt relief options, then provide you with a realistic plan to help you get out of debt and save money – via an affordable plan that will best meet your current financial situation and needs.