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4 Good Things About Debt Consolidation in Haltom City, Texas

Borrowers with high-interest loans benefit greatly from consolidating their debts. However, it’s only feasible in a few situations. If your credit score isn’t high enough, it might not work for you as you likely won’t get a lower interest rate or any loan at all. If you do qualify for one, though, here are some benefits that you can look forward to.

Debt Consolidation in Haltom City Texas

Streamline Your Finances

It’s hard to monitor and stay on top of multiple debts. Reducing numerous debts into one makes it easier for you to manage your budget and finances. You won’t need to worry about different payment methods, dates, and channels. Taking care of a single monthly payment is easier.

Get a Quicker Payoff

If you get a lower interest rate with your debt consolidation in Haltom City, Texas, you can save on interest payments. Add those savings to the amount of money you pay towards the debt, and you may finish paying everything off much sooner. Most debt consolidation loans have terms from four to seven years, which could be decades sooner than paying minimum payments.

Reduce Monthly Payment

On the other hand, if one of your money problems is that you can’t handle the payment amount that you owe every month, securing a loan for debt consolidation in Haltom City, Texas, means you can potentially have a lower payment amount. However, lenders will look at your debt-to-income ratio, and if they see that you are struggling, you may have difficulty obtaining a debt consolidation loan.  But if approved, and it makes it easier and more manageable for you, then it’s a suitable course of action.

Improves Credit Score

When you apply for a new loan, you may see your credit score take a small dive. However, by using a debt consolidation loan, you could boost your credit score and improve your debt-to-income ratio with smaller payments. And if you have no trouble handling the monthly payments.

Alternatives to Debt Consolidation Loans

Credit counseling debt management programs can provide you with one monthly payment similar to a debt consolidation loan. However, you do not need a new loan since the debt management program receives your payment and distributes it to your creditors who provide lower interest rates. If you want to get out of debt faster and save more money, then consider a debt settlement or debt negotiation program. These programs also allow you to make one monthly payment, but instead of paying your creditors each month, your debts are negotiated for less than you owe one at a time. The program payments could be less than half compared to minimum payments and structured for an estimated time frame between 24 to 48 months, depending on your budget.

How to Receive Debt Consolidation in Haltom City, Texas

The fastest way to get help is to call to speak with a Texas Debt Specialist now. You may also fill out the form above and one of our Texas Debt Specialists will reach out to provide you with a free and no-obligation consultation for Debt Relief or Debt Consolidation in Haltom City, Texas.

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Debt Consolidation Haltom City, Texas, Credit Counseling Haltom City, Texas, and Debt Relief Haltom City, Texas Consultations are Free of Charge with no obligation. Affordable Debt Consolidation is not a lender but offers a platform to receive offers from participating lenders.  Credit counseling clients generally obtain an interest rate between 6% and 11%.  Debt negotiation clients who make their scheduled monthly program payments generally experience approximately a 45% reduction of their enrolled balance before fees over a 24-48 month period, not including any optional and separate services such as legal services provided by a law firm.  Our settlement fees are 15% of the enrolled balance compared to 25% charged by most competitors. Individual results vary based on the ability to fund the program, and the creditors enrolled. Statements made are examples of past performance and are not intended to guarantee that your balances will be reduced by a specific amount or that you will resolve debt within a specific time period. Settlement fees are not charged until a debt is reduced and payment has been made to the creditor. We do not assume consumer debt, make monthly payments, or provide tax or legal advice. We are not a credit repair firm. Please contact a tax professional to discuss any possible tax consequences of paying less than the total balance. Debt Relief programs are exclusively offered to Texas residents. Logos used are property of their respective owners.

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