• Get A Free Debt Savings Quote

  • Select Your Debt Amount Below:

*Please use the slider to select your debt amount

or Talk to a Texas Debt Specialist 830-500-3173

or Talk to a Texas Debt Specialist

14 kfox
Krix 6
Recent Internet Articles

6 Mistakes That Ruin Your Debt Consolidation in Schertz, Texas

Getting a debt consolidation loan might be the best option for you. However, keep in mind that consolidating your debt isn’t a guarantee of success. They are difficult to qualify for, so if your credit scores are not over 700 it might not get approved. Also, if your debt-to-income ratio is not good, lenders will not take the risk of loaning you the money to pay off your other debt. Watch out for mistakes that could get in the way of achieving the results you want. Here are some of the most common mistakes you should avoid. Debt Consolidation in Schertz Texas

Not Having a New Budget

Before the proceeds from the loan for debt consolidation in Schertz, Texas, get into your account, you should have a new budget or plan ready. The plan should have as much detail as possible about paying off your debts.

Having an Unrealistic Budget

While having a plan is good, if it’s not even close to realistic, that plan will fail. Add a little bit of wiggle room for financial emergencies. Don’t designate all your extra cash toward the monthly payments. That won’t be possible. By leaving a little wiggle room, though, you make it easier to follow the budget.

Not Exploring Your Options

Debt consolidation isn’t the only option you have. You can also check out debt relief in Schertz, Texas. Different financial strategies can help you determine why consolidating your debt is the best move to make. A debt relief program can negotiate the balances of your existing loans and provide a much lower program payment compared to a minimum payment of high-interest debt.

Agreeing to a Higher Rate

One of the primary reasons borrowers love debt consolidation is the lower interest rate it gives you. That makes it possible for you to save on interest payments in the long run. However, if that isn’t possible given your credit score, you might agree to a higher interest rate instead. That’s not the ideal choice for you as it cancels out one of the most significant benefits of the loan. Consider other financial strategies that work better in solving your debts.

Not Paying Your Debts Right Away

When you apply for a loan, it doesn’t mean that the debt goes away. A lot of borrowers are blinded by the thought that they now have money to pay off those debts. But that’s not the case. In fact, you also need to have enough money to cover the charges associated with the loan. That’s why when you receive the money in your account, you should pay off the multiple debts you have right away. If you don’t and use the money for something else, you’ll only have bigger problems.

Spending More

You’re already having trouble with your current debts. Don’t add more to the pile. Stop splurging and using your credit card until you’re debt-free.

Debt Consolidation Loan Alternatives

Debt settlement and credit counseling can help you to manage and resolve debt without the need for a new loan. These programs are not ideal if you are trying to protect a high credit score in the short term. But if you need to get out of debt and save money on a monthly basis, you could resolve debt in under 5 years without a new loan. Debt settlement is usually the least expensive option. Always research a company and check the Better Business Bureau.

How to Receive Debt Consolidation in Schertz, 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 Schertz, Texas.

Affordable Debt Consolidation Headquarters
Hours of Operation
Texas Debt Management License

Debt Redemption License

Debt Consolidation Schertz, Texas, Credit Counseling Schertz, Texas, and Debt Relief Schertz, 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.

Privacy Policy | © Copyright Affordable Debt Consolidation Schertz, Texas 2023 | All Rights Reserved | Sitemap