Debt Relief Programs fo Texans
Texas residents struggling to pay off debt might come to the realization they need to find a better solution. A debt relief program can help resolve financial problems and help a person get back on a healthy financial track.
If you’re having a difficult time paying your bills and your're finding that interest payments just continue to snowball, now might be a good time to explore debt relief.
What is Texan Debt Relief?
Currently, credit card debt in Texas is amongst the highest in the United States, ranking in at number three of all states. With the average Texan owing $9,100 on their credit cards, many are finding themselves unable to keep up with their payments as they try to maintain this debt while continuing to pay housing, utility, automobile, and other bills.
Just as consumers have different financial situations, there are different debt relief programs people can take advantage of which can be customized to help each individual.
Debt consolidation loans
It's As Easy As 1, 2, 3 ...
Century’s focus is completely on you.
There is no one-size-fits-all solution for everyone. We are experienced in helping our clients get on a path toward better financial health. It’s as easy as this three-step program. All you need to do is contact us for a free, quick, no-obligation evaluation of your debts and we’ll present a customized solution to you. Once you’re approved, we get to work on your behalf to get your debts reduced by negotiating with creditors.
Is Debt Settlement Worth It?
Getting out of debt without help can be hard to do. Working with a debt relief company provides you the support and information you need to free yourself from your debt burdens and get you much closer to reaching your financial goals. Even if you’re in a position where you can continue to make payments on money you owe, you can still benefit from debt settlement.
Paying off debt more quickly than just making regular minimum payments.
Freeing yourself from paying high-interest rates.
Obtaining more favorable repayment terms.
As a result of consulting with a certified debt specialist in Texas, you’ll reduce the total balance of debt you owe and you can also avoid filing for bankruptcy, which can wreak havoc on your credit standing.
Frequently Asked Questions about Debt in Texas
Texas law does allow creditors to garnish your bank account. This is called a “Writ of Garnishment”. They cannot garnish your wages, but once your money arrives in your bank account, they have the right to collect.
A creditor cannot put a claim on certain assets you own to collect owed debt. Generally speaking, items you need to live are exempt from claimants, such as your car, your homestead (unless the money you owe is your mortgage or taxes), two firearms, tools you need for work, sporting equipment, two horses, 12 head of cattle, and bicycles.
Under some circumstances, Texas law does allow for bank accounts to be frozen. However, the creditor needs to first get a judgment against you to collect funds from your bank account.
The State of Texas does allow creditors to sue people who owe them money. Creditors will generally first try to collect from you directly, but if they believe you have no intention of paying the debt, they’ll likely close your line of credit and file a lawsuit.
U.S. federal law prohibits debt collectors from threatening to send a debtor to jail. However, if you are summoned to appear in court, don’t ignore this notice. A no-show is considered to be contempt of court and a warrant in your name may be issued – this can land you in jail.
How to Choose a Debt Settlement Company in Texas
When choosing a debt settlement company, you want to be sure you connect with a legitimate business. Unfortunately, there are numerous scammers out there that prey on people struggling with debt. Any company that tries to collect fees from you prior to settling debt is not acting in accordance with U.S. federal rules. Other red flags include:
Identifying with a “new government program” to help bail you out of debt.
Making a guarantee they can make your unsecured debt disappear.
Directing you to stop communicating with creditors, but neglecting to explain the severe consequences of doing so.
Promising your unsecured debts can be paid off for pennies on the dollar.
Always be sure to do your homework on any company you consider connecting with to help settle your debt. You want to select a company with a strong ethical approach that operates with their client’s best interest in mind. Every decision Century makes is made to benefit you and help get you back on track.
Debt & Financial Resources for Texans
To learn more about your rights and how Texas handles credit and debt law, the following links offer helpful information.
If you live in Texas and need help with credit card or other types of unsecured debt, Century can help. Our Company has been servicing clients debt settlement programs for more than 17 years.