According to CBS News, credit card balances alone jumped by $45 billion from the previous quarter, hitting a record high of $1.21 trillion by the end of December. With some economists worried about how tariffs may impact struggling families, resolving high-interest debt can be a great way to free up cash flow so you can live more comfortably and start investing in your financial future.
Upper-middle and high-income earners often want to avoid bankruptcy since they have income and assets they may not want to give up in the liquidation process. Fortunately, there were other options to resolve debt, depending on your situation, needs, and goals.
Credit Card Debt Consolidation Loans
Most debt consolidation loans are unsecured, meaning the lender has no collateral to take in the event of default. This makes these types of loans high risk. Lenders are going to examine not only your credit score, but your debt-to-income ratio, since those who are overextended have a high risk of default. The advantages of a debt consolidation loan could be a lower interest rate, lower monthly payment compared to combined minimum credit card payments, and the ability to pay off the debt much sooner. A Debt Redemption Texas Debt Specialist can help you shop for the best debt consolidation loan up to $100,000.
Credit Counseling Debt Management
Credit counseling programs reduce your existing interest rates with most credit cards and some personal loans. Rather than using a new loan to pay off your debt, you simply make one payment to the credit counseling agency, and they distribute your payment to your creditors. Like a debt consolidation loan, you may have a lower monthly payment and can pay off the debt much quicker than minimum payments.
Debt Redemption’s Debt Relief Program
If you need to save more money every month or want to resolve the debt faster than the above options, Debt Redemption’s Debt Relief Program, exclusively for Texans, may be the answer. By negotiating substantial balance reductions, it may be possible to have a program payment that is less than half compared to the combined minimums. In some cases, the debt can be resolved in as little as 12 to 60 months, allowing you to start investing more into your financial future rather than throwing money away to high-interest rates for perhaps decades. This program may be ideal if you struggle to make the minimum payments, are behind in payments, or even face collection lawsuits. Texans can also take advantage of Debt Redemption’s low fees. In comparison to out-of-state debt relief services that often charge 25% of your debt, Debt Redemption charges 15%, which is up to a 40% fee savings.
Stop stressing over high-interest debt and call or chat with a Texas Debt Specialist today to learn about your options and start the path to freedom from debt!
DEBT REDEMPTION
Phone: 800-971-4060
Website: https://debtredemption.com
Headquarters:
40 NE Loop 410
Suite 565
San Antonio, TX 78216
