Debt settlement is not the only debt consolidation option offered by credible debt relief companies. However, it is one of the most commonly used options because it helps bring your debt down considerably. Depending on your situation, Debt settlement in Lubbock could be your most feasible solution for debt management.
Debt Management – how to get started?
Debts can be frustrating when you are living from paycheck to paycheck, which is why it is crucial to manage your pending debts appropriately and plan for the future. If the debt is the cause of stress in your life, it is time that you get professional help. This can include Credit Counseling in Texas or debt settlement. Reputable credit counselors can become a blessing as they help sort out your debt issues. They are qualified and trained to offer appropriate and relevant debt management solutions depending upon your exact condition.
Credit Counseling in Lubbock
Credit counseling programs lower your credit card interest rates down to 10% or less in most cases. You will make one monthly payment to the credit counselor who will pay your creditors. The benefits also include lower monthly payments compared to making minimum payments, and the programs are often five years or less in length.
Debt Settlement in Lubbock
Debt settlement programs are usually more affordable than credit counseling, but monthly payments are not provided to your creditors. Settling debt means the creditor agrees to take less than the full balance to clear the debt. Also, debt settlement does impact your credit ratings. Most programs are estimated to take between 24 to 48 months, and the program payment could be less than half compared to making minimum payments. Talk to a a Texas Debt Specialist and weigh all pros and cons, and makes a plan that is best suited for your specific financial condition at Debt Redemption
Bankruptcy in Lubbock
Bankruptcy is a serious decision with potentially serious consequences. If your income and assets are below the bankruptcy guidelines, then you may qualify for a chapter 7 to eliminate your unsecured debt. Many people have assets they do not want to give up, or they make too much money and will have to pay some or all of their debt back in chapter 13. A chapter 13 Bankruptcy in Lubbock, Texas might be less expensive than debt settlement, or it might cost more. You will need to speak to a qualified attorney if you wish to pursue bankruptcy.
Debt Consolidation Loans
A debt consolidation loan is another option to resolve your high-interest debt problems if you have a very high credit score and substantial income. If thi s is the case, you will increase your chance of qualifying for a Debt Consolidation Loan if you shop as many lenders as possible at the same time so without affecting your credit score. You can receive offers from up to 25 lenders offering Debt Consolidation Loans in Lubbock at https://affordabledebtconsolidation.com. There is no fee to use the service, and it will not impact your credit score in any way to receive offers since the credit pull is a “soft pull.”