Have you gotten out of hand with your debts? Have you found yourself with over one credit card that has a balance you are unable to pay off at once? And, you still have to make payments towards a car and still have some unexpected expenses such as health related or repairs that you need to pay for?
After some time, debts become costs as interest increases and missed payments bring about late fees. So, how can you go back to being debt free? One of the ways in which you can redeem yourself and start living a debt free life is seeking the services of a debt consolidation company. Depending on your situation, debt consolidation may help lower your interest rates or payments and reduce the amount that you ultimately owe.
It is important to analyze your situation keenly and see if debt consolidation is a good option for you. Luckily, the National Debt Relief Group provides a free consultation to those who have accumulated medical bills, credit cards, or personal loans. You can fill out a form, and you will be contacted by one of the debt specialists. You can also call (888) 703-4948 and get instant help.
Socioeconomics in Houston
Despite the booming economy, almost quarter of Houston, TX population is living below the poverty threshold. This is in spite of the area’s average income being on the rise and also the fact that Houston accommodates four of the ten most affluent communities in Texas, including Hunters Creek Village.
Wealth and Poverty in Houston, Tx
High poverty regions in Houston, Tx have quadrupled and spread past the city’s Interstate 610 curve. More of the urban destitute have become secluded in neighborhoods where people around them are also poor. A stronger force, however, shapes the growing economic isolation across cities- concentrated wealth.
Benefits of Debt Relief Services
- Consolidating your loans means you are combining them into one monthly settlement that is much easier to tackle
- Debt relief will help you do away with collection calls as well as harassment by your former creditors
- You will significantly reduce or eliminate the interest rates you were paying for your debts
- Everything is done privately and securely
- The psychological benefits include reduced stress and a more fulfilling and happier life
- You will not be compelled to pay any hidden or upfront fee
Who are the Prime Candidates for Debt Relief?
The viable candidates for debt relief in Houston, Tx are those who:
- Owes a minimum of $10,000 debt
- Cannot afford to make minimum monthly payments
- Are thinking of filing for bankruptcy
Debt Relief Laws/Regulations in Houston
The Statutes of Limitation law applies to the maximum amount of time after a debtor has become negligent on their payments. According to this law, the consumer is considered negligent from the date after the payment deadline and not after the time of the last payment.
Kindly be reminded that this law varies from one state to the next, and depends on the kind of debt as well as where the initial transaction took place. For instance, if the loan was made in California, but the consumer currently lives in Texas, then the applicable law of limitations would be the one for California.
Also, the Texas Debt Collection law prohibits the use of abusive and fraudulent tactics by creditors to obtain outstanding debts from consumers.
If debt consolidation can help you take control of your finances, you will be able to minimize or avoid harm to your credit rating. Just remember to be cautious when choosing a reliable consolidator. Be on the lookout for the red flags, for instance, a company offering easy credit, very low interest, and a guarantee to qualify for the program. Also, remember that lenders should not ask for advance fees.