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Benefits of Debt Consolidation in Waxahachie Texas

Debt consolidation is when several debts from such as credit cards are combined into one payment. The combination makes loan payments more straightforward and faster. It also can help you to track your loan performance easily.

There are two methods of debt consolidation. They include; balance-transfer from one credit card to another and using a personal loan to pay off all credit card.

Some credit card transfers will offer a 0% interest rate for a period of time, and debt consolidation loans will offer a fixed rate for the term of the loan. 

Some debt relief agencies in Waxahachie Texas have been will discuss the benefits of debt consolidation loans. Here are some of those benefits: Debt Consolidation in Waxahachie Texas

Save you money

Consolidating your loans can offer you a high chance of saving you some money in interest. For example, if you own multiple credit cards with double-digit interest rate, and you can get a debt consolidation loan at a low rate. Then you have the potential to save money in potential fees and interest. It can be difficult to qualify for a debt consolidation loan as lenders have increased their lending standards due to economic circumstances.

Simplifies finances

A debt consolidation loan combines several loans into one loan that requires monthly payments. The monthly payments have a fixed repayment term and a fixed interest rate. The all-in-one debt consolidation loan means that your finances are more simplified, therefore, easy to manage. Also, it allows you to note when you expect to clear off all your loans.

Increase credit score

Using debt consolidation services in Waxahachie Texas means paying off several debts, especially those from credit cards, which can increase your credit score if a loan is utilized. Furthermore, credit models like VantageScore and FICO weigh heavily on the credit utilization ratio, which is how much credit has been consumed. When the consolidation loan decreases your credit utilization ratio, your score might as well increase. Credit counseling and debt settlement programs do not require a good credit score, but can decrease your score while you utilize the programs since they are considered hardship programs.

Avoid high interest debt

In addition, debt consolidation loans, you have the option for counseling services in Waxahachie Texas, you can keep track of when and by how much you are expected to make with one convenient monthly payment  Debt settlement can provide you the maximum savings without bankruptcy since your debt balances are negotiated down. However this program is only designed for people who cannot afford to easily pay off their debt with savings.

Debt can be tough to deal with if you don’t have any plan of repaying it. However, with a debt consolidation plan, you are well on your way to overcoming your debt.


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

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Debt Consolidation Waxahachie, Texas, Credit Counseling Waxahachie, Texas, and Debt Relief Waxahachie, 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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