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Resolve Credit Card Debt and Personal Loans
in as Little as 24 - 48 Months

Resolve Credit Card Debt
and Personal Loans in
as Little as
24 - 48 Months

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Essentials to Know About Debt Settlement in Cedar Hill Texas

If you have a large unsecured debt, you can choose debt settlement from the debt relief programs you’ll encounter. You pay a portion of the money you owe. That sounds ideal, but it comes with drawbacks. However, depending on your situation, it could be your best option. Here’s a breakdown of how it works so you know what to expect.

How Debt Settlement Works

  • Research comes first. You need to find a company that offers debt settlement in Cedar Hill that fits your needs and budget. Watch out for out-of-state companies that charge enormous fees. Pick a BBB accredited, and licensed company locate din Texas that charges fair fees. See how long they have been in business and read any complaints lodged against the company.
  • Reach out to a debt specialist or credit counselor to talk about your financial situation. Determine if you’re eligible for a debt settlement plan.
  • If you’re a good fit for their program, the counselor will think of a strategy to help you resolve your debts.
  • You enroll in the program and send the payments to a dedicated account, which will be used later. You stop paying your creditors to help the debt settlement process along.
  • Once the dedicated account reaches a certain balance, the debt settlement firm will start the negotiations.
  • You review every agreement reached and approve the terms.
  • If the creditor agrees, the funds from the dedicated account are sent to the creditor to settle the debt.
  • You continue to make payments to the account until all the debts are resolved.

Benefits of Debt Settlement

Here are some of the benefits that you can look forward to when you enroll in a debt settlement program.

  • You can lower your debt amount. That way, every monthly payment is now easier to manage. Your program payment might be less than half compared to minimum payments.
  • Pay off your debt faster. Most debt settlement programs are meant to be completed in 24 to 48 months. That motivates you to work harder to pay off your debt within the given time frame.
  • Prevent bankruptcy. Filing for bankruptcy leaves a bankruptcy black mark on your credit report, which could last for as long as seven to ten years. It may be public record for life and could be uncovered in background checks long after it is gone from the credit report.

Risks of Debt Settlement

When you get credit counseling in Cedar Hill, the program may be different than that of debt settlement.  make sure you also pay attention to the risks. Don’t choose this strategy without knowing the cons.

  • Nearly all major creditors will agree to a settlement since it is in their best interest, but they are not required to by law. Smaller creditors may be more reluctant to agree to a settlement.
  • Hurts your credit history, however the damage may already be done if you have fallen behind. You can quickly re-establish your credit history after graduating the program, and you will have a better debt-to-income ratio.
  • Comes with fees, but fees are not charged until they successfully complete the settlement. This lowers the risk, but there are companies charging illegal upfront fees. Companies offering debt settlement might offer additional products such as legal insurance plans, but they are not required.

Call 469-663-6377 for a Cedar Hill Texas Debt Consolidation or Debt Relief Consultation.

Debt Redemption Client Experiences

Austin M.
Austin M.
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My wife and I lost a third of our income after the pandemic started. Our entire household was struck with COVID, which marked the beginning of our downward financial spiral. Due to late payments, the interest on most of our 26 credit cards and 186K debt hit 29%. While stepping into my truck one morning, a man handed me court documents from Discover. We knew at that point we had to do something, but we also knew we would not be able to make the debt go away in bankruptcy due to our income. We met with a bankruptcy attorney anyway to see if anything could be done, and he recommended we liquidate investments since we could not afford chapter 13 payments. I heard about debt relief companies, but my sister-in-law advised us against them after she used another company in Arizona and received non-stop harassment calls from creditors. She was also upset she had to pay that company 25% of her debt for fees.Not considering any debt relief service, my wife and I saw Debt Redemption on the Channel 5 news and found reviews of other people with large debt situations using this company specifically. Being based in San Antonio and advertising lower fees than other companies, we decided to make an appointment with Jack Brandon and ended up signing up the same day. All debt collectors stopped calling, and we never had to show up to court for the lawsuit. The lawsuit was dismissed with a savings of over 19K on the one debt alone. After two years in the program, they have settled most of our debts for less than we expected. If it werent for COVID, we would never have been in this situation, but thankfully the program is affordable with Jack and Debt Redemption doing everything they said they would and more. My wife and I will always encourage anyone who needs help with massive debt to reach out to this company.
Jonathan R.
Jonathan R.
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$147,000 between high interest credit cards and personal loans became to much to handle after our small business had a reduction in revenue. We contacted other debt consolidation type companies and besides no locations in Texas, none of them offered anything thing like what we recieved here. Jack was very professional and took a lot of time to explain several options and programs available to us. After we enrolled, the creditors stopped calling and we are paying less than a third of what we were paying the creditors with the very high interest rates. I highly recommend them if you need help with debt. Thank you!

How to Receive Debt Consolidation in Cedar Hill, Texas

The fastest way to get help is to call now. You may also select your debt amount with the slider and use the form above for a free and no-obligation consultation with a Texas Debt Specialist.

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Debt Consolidation Cedar Hill, Texas, Debt Consolidation Loans, Cedar Hill, Texas, Credit Counseling, Cedar Hill, Texas, and Debt Relief Cedar Hill, Texas, Consultations are Free of Charge with No Obligation.

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Debt Consolidation Cedar Hill, Texas, Credit Counseling Cedar Hill, Texas, and Debt Relief Cedar Hill, Texas Consultations are free of charge with no obligation. Debt Redemption is not a lender but provides a marketplace to receive offers from our network of lenders. Clients who make monthly program payments generally experience an approximate 45% reduction of their enrolled balance before our performance fee of 15% and any optional third-party fees.  Individual results may vary based on the ability to save sufficient funds, ability to complete the program and the creditors enrolled. Statements made are examples of past performance and are not intended to be a guarantee that your debt balances will be lowered by a specific amount or percentage, or that you will be debt-free within a specific time period. Settlement fees are not charged until a debt is reduced and payment has been made to creditor. We do not assume consumer debt, make monthly payments to creditors, or provide tax, bankruptcy, accounting, or legal advice. We do not provide credit repair services. Optional separate legal services may be offered by affiliated attorneys and any associated attorney fees are separate from those charged by Debt Redemption Inc. Please contact a tax professional to discuss any possible tax consequences of paying less than the full balance. Programs are available in Texas. Logos used are the property of their respective owners. 

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