Debt Consolidation San Antonio Texas, Credit Counseling San Antonio Texas, and Debt Relief San Antonio Texas Consultations are free of charge with no obligation. Clients who make monthly program payments generally experience an approximate 50% reduction of their enrolled balance before fees, or a 35-45% reduction after payment of settlement fees over a 24-48 month period. Individual results may vary based on 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, 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, 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 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. We are not a lender but offer a platform to receive offers from multiple lenders. Programs available in Texas. Logos used are property of their respective owners.
If you live in San Antonio, Texas, and are considering Debt Consolidation or Debt Relief, the information below can help you decide which option to get out of debt.
Most San Antonio residents with overwhelming debt want to avoid bankruptcy if possible. Bankruptcy can be very damaging and expensive. There are two types of consumer Bankruptcy. One is Chapter 7, which requires filers to liquidate any non-exempt assets. The other type of Bankruptcy is a Chapter 13 repayment plan. Depending on your income, circumstances, and what the Bankruptcy Court determines, Chapter 13 could be less expensive compared to a Debt Relief Plan, or it could be more expensive. It is also important to consider that Bankruptcy will be a public record for the rest of your life, so even after 10 years, when it is no longer on your credit report, it can still be uncovered with background checks. If you are considering Bankruptcy, you will want to speak with a qualified San Antonio Bankruptcy attorney.
Debt Consolidation Loans are one option for some people to reduce the cost of high-interest credit card debt but are very difficult to qualify for. If you have excellent credit scores, you can try your local bank or credit union in San Antonio to see if you are eligible for a Debt Consolidation Loan. If your credit score is not at least 720, you may find it challenging to qualify. Your income in relation to our monthly debt expenses will also be a large determining factor in your qualification for a debt consolidation loan in San Antonio, Texas. This is referred to as the debt-to-income ratio. While this is not part of your credit score, your debt-to-high credit ratio is greatly factored into your credit score. The combination of credit score, debt-to-high credit, and your debt-to-income ratio is what will determine your eligibility for a Debt Consolidation Loan.
Debt Consolidation in San Antonio is available with Credit Counseling.
Another way to consolidate debt is by using a Credit Counseling Program. Also known as Debt Management Plans, these options do not require good credit scores and may reduce your interest rates. Debt enrolled must be unsecured such as a credit card debt or personal loans with no collateral attached. Not all unsecured debts will qualify to consolidate debt with a Credit Counseling Debt Management Plan. If you enroll in a Credit Counseling Plan, you will make one payment per month, and it will be distributed amongst your creditors. Typically, your high-interest credit card rates can be lowered down to around 6 to 11 percent. If you have debts that are delinquent for more than six months, or if you need a lower monthly cost and want to resolve your debt quicker, there is another option.
Debt Settlement is also referred to as Debt Negotiation, and Debt relief in this manner is different compare to Credit Counseling because small monthly payments are not made to your creditors. Your creditors will be negotiated and settled for less than you owe with funds saved in a special savings account. This means your monthly program payments could be much lower compared to making minimum payments or Credit Counseling in San Antonio. Consolidating debt in this manner may be the best option if you are behind in payments or will eventually fall behind. If you need the lowest monthly cost without Bankruptcy, then Debt Settlement in San Antonio could be your best option.
It is important to use a local Debt Consolidation company in San Antonio because out-of-state companies may not understand the debt relief Texas laws that could provide you additional benefits if they are utilized. Debt Redemption is also able to help with pre-existing creditor lawsuits and has an exclusive relationship with a top Texas creditor lawsuit defense attorney that will provide special rates to Debt Redemptions Texas Debt Relief clients in San Antonio.
With multiple offices in Texas, Debt Redemption Texas Debt Relief is headquartered in San Antonio, Texas, and provides Debt Management services in the entire loan star state. Debt Redemption does not provide Debt Consolidation Loans but can make recommendations for your unique situation, if applicable. Debt Redemption does provide Credit Counseling Debt Management Plans and Debt Relief with Debt Negotiation and Debt Settlement for local San Antonio Texas residents. Debt Redemption will explain your options and provide free Debt Consolidation or Debt Relief San Antonio office consultation with no obligation.