If you’re facing debt, you’re not alone. When it comes to other Texans:
- Texas has a median household income of $54,727, versus $55,322 for the U.S.
- Per capita credit card debt balance for Texas stands at $3,140.
- Texas state's per capita credit card debt balance is 1.29% greater than the overall USA's average per capita of $3,100.
- The average debt-to-income ratio in Texas is 1.143.
- Households have an average of $7,692 in credit card debt.
- Texans face an average year-over-year increase in debt of $1,755.
Dealing with debt in Texas? Debt relief programs in Texas are available to help you free yourself from debt. Whether you’re in Houston, Dallas, El Paso, or somewhere in between, you can find the Texas debt relief option you need to pay off debt and get your finances back on track.
Houston Area Hit Hard by Credit Card Debt
Everything is bigger in Texas. Unfortunately, that means debt too. Texans who live in South Houston experience a credit debt to income ratio that is 7% higher than the state average. In Houston, credit card lenders are taking citizens to court over unpaid credit card bills. For many, the addition of court fees on top of what they already owe is more than they can handle. If you live in the greater Houston area and are overwhelmed by credit card or personal debt you could benefit from a debt relief program.
Why Getting Out of Debt Should be a Priority
It’s easy to fall into debt; for example, an unexpected medical bill could cost you thousands of dollars that you don’t have. It’s not just the unexpected bills that can send you into debt: credit cards make it easy to purchase the things you need—and the things you don’t. No matter how you got into debt, our Texas debt relief program can help you take the first step to get out of it.
The constant weight of debt on your shoulders can lead to physical and mental pain. The good news? Not only does getting out of debt potentially help you increase your credit score, but it also helps you feel happier and more relaxed by removing that heavy weight from your life.
Debt Relief Program in Texas
You’re ready to start getting out of debt, but which method is best for you? Check out some common Texas debt relief options.
- Credit Counseling: This method involves working with a credit counselor to help you create a budget and set up a plan to pay off debt. It works best if you have both a lower amount of debt and the ability to pay it off, but just need help setting and keeping to a plan/budget.
- Debt Resolution: Debt relief companies in Texas negotiate with your creditors on your behalf to try and lower the total amount you owe. An account is created in your name, which is where you’ll make one monthly consolidated deposit. While you’re making those deposits every month, a negotiator will contact your creditor and negotiate with them on your behalf. After negotiations, you should have a lower total debt amount (that’s called a “resolution amount”). When you’ve saved enough in your account to cover the resolution amount, you’ll use that money to pay off your debts.
- Bankruptcy: Filing for bankruptcy is generally seen as a last resort, as it can affect your credit and ability to secure financing for up to a decade. Check with a debt relief company to explore other options before declaring bankruptcy.
Benefits of Debt Relief
Getting out of debt by yourself can be difficult. The support and encouragement that come from working with a debt relief company could be the motivation you need to finally get rid of debt. Successfully paying off your debts can cause your credit score to increase, potentially leading you closer to your financial goals.
When Should I Get Debt Relief?
While debt relief options aren’t for everyone, here are a few questions you can ask yourself to see if you’re a good fit:
- Am I struggling to make my payments on time?
- Can I only pay the minimum each month?
- Can I realistically pay off my debt within a reasonable timeframe?
- Does it feel like bankruptcy is my only option?
Texas Debt Relief
Accredited Debt Relief is licensed to provide debt relief throughout Texas. No matter where you live in the Lone Star State, we can help you learn more about your debt relief options. We’ve successfully helped customers from across Texas find the right debt relief program to lower the amount of debt they owe and pay it off. From the Houston and Dallas-Fort Worth metro areas to Laredo and Garland, let us help you find a solution to your debt.
Accredited Debt Relief can help you pay off your debt quicker, so you can finally take the first step toward financial freedom. Get a free consultation today!