Skip to main content

Debt Relief Options for Lubbock Texas Residents

 If you happen to be a Lubbock resident facing a huge debt credit card debt, there are options to resolve it and save you a lot of money in the process.  It’s very much possible to gain control of your finances of overwhelming debt. There are many options for Debt Relief in Lubbock, Texas. These are some strategies that can be helpful.




The Debt Management Options

The first option to understand is Credit Counseling in Lubbock. This option is also referred to as a Debt Management Plan (DMP).  The credit counselor will review your debts and typically enroll your credit cards and some high-interest personal loans.  The program will provide lower interest rates which are known as concession rates.

The best part is that you will be able to focus on just one monthly payment for all enrolled creditors with the DMP.  There are two items to consider as you are not able to open additional credit lines until you’ve finished your DMP, and you will not be able to make additional charges on your enrolled credit cards. This is a hardship program, so obtaining more debt will be very counterproductive while enrolled. 


Debt Relief in Lubbock with Debt Settlement

A debt settlement program is another way to obtain Debt Consolidation in Texas. Unlike a credit counseling program, monthly payments are not made to each creditor.  Instead, you will save money into an FDIC insured account as your accounts are negotiated and settled one at a time for less than you owe the creditors.  The savings can be tremendous, and you can have a monthly cost that could be less than half of your minimum credit card payments in many cases. If you are interested in reducing your debt with credit counseling or debt settlement, speak with a Texas Debt Specialist at Affordable Debt Consolidation. 


Credit Card Balance Transfer

If you are not struggling with your debt, there are some other options to consider.  A credit card balance transfer falls under the general umbrella of debt consolidation.  For example, if you have high interest rates, perhaps 25 percent, you can transfer the balance to a lower interest rate card if your credit score is good enough to qualify.  This is not always the best strategy because the new credit card is likely to only offer an introductory low-interest rate. 


Debt Consolidation Loans in Lubbock Texas

If you have good credit scores and a good debt-to-income ratio, this will probably be your best option to eliminate high credit card interest rates. This gives them the freedom to focus on making a single monthly loan payment every month and pay off their debt much faster.  Your best chance of obtaining a good debt consolidation loan in Lubbock is to apply with multiple lenders at once.  Affordable Debt Consolidation will shop up to 25 or more lenders that offer debt consolidation loans in Lubbock.  Applying will not affect your credit score and there are no application fees.  You can apply at affordabledebtconsolidation.com 

Comments

Post a Comment

Popular posts from this blog

What to Know About Debt Relief in McAllen, Texas?

  Debt relief might seem like a good idea. After all, it’s designed to make your monthly manageable. If you’re having a tough time meeting those payment deadlines, then you can renegotiate your debt or replace it with a new loan. The loan will give you new terms and conditions, hopefully one of which includes a lower interest rate. That can help you save on costs and interest payments. In some cases, this type of debt relief might also come with waived fees and an extended loan. There are also programs that can negotiate your debt balances, but your debts will need to reach a deliquent status to get the best deal. If all these sounds interesting to you, here’s more about this financial tool.   Debt Relief: How Does It Work ? Before you choose a company that offers services like  Debt Relief in McAllen , make sure you fully understand what debt relief is. There are many types that you can choose from, depending on your needs and budget.  Debt Relief Types  There’...
Post a Comment
Read more

4 Signs of a Dodgy Debt Consolidation in Frisco, Texas

 Consolidating your debt comes with plenty of benefits. You can get a lower interest rate, affordable monthly payments, and a single monthly payment instead of keeping track of multiple ones. If you’re thinking about giving it a try, one of the first things you need to do is find a lender. Pay attention to the following signs, though. If you encounter any of them, that means you’re dealing with a dodgy lender. You’re better off taking your business elsewhere.  Pressure Tactics  Getting a loan for Debt Consolidation in Frisco , Texas isn’t easy when you have bad credit. That doesn’t mean it’s hopeless, though. There are places willing to provide assistance to customers with bad credit. However, if the lender starts pressuring you, that’s not a good sign. Be sensitive to these approaches. It can seem like a good thing to even have a lender show any interest in working with you. But make sure you aren’t falling for a trap.  Too Good to Be True  Is the rating too lo...
Post a Comment
Read more

Debt Relief In Plano Is Only The First Stage Of Financial Freedom

Financial freedom is a term that you come across quite often, but it can be confusing because it means different things to different people.If you are struggling with debt, then obtaining  Debt Relief in Plano ,Texas,  is the first step. Rich people earn interest, and poor people pay interest. Most folks spend their days attempting to earn enough to pay their bills. Naturally, any high-interest debt is taking away money that could be saved and invested. Debt Consolidation Loans and Financial Freedom If the debt is preventing you from saving and investing, the first step is to resolve the debt to free up this money. If you are paying high-interest credit card debt and finding that your balances are not going down as fast as you would like, consider a Debt Consolidation Loan in Plano to pay off your credit card debt. If you have a high credit score and ample income, you will increase your chance of finding the best rate by shopping multiple lenders at once. If your credit is...
Post a Comment
Read more