Debt Consolidation Texas
What You Need To Know About Debt Consolidation In Texas
If there’s one thing about debt that’s pretty consistent, it’s that it can be found in just about every state in the country, and can be measured by overwhelming numbers. According to a recent report (1), Americans have almost $13 trillion in debt for things like mortgages, student loans, car debts and more.
Everything Is Bigger In Texas—Even Debt
When it comes to states that have the highest debt burdens in the country, Texas does that with the third highest in the country, an average of $185,584 a Texan. Following only behind Hawaii and Maryland, experts estimate the average Texan is held hostage to nearly $200k of consumer debt.
And while the debt in Texas may be at the top of the country’s list, the average credit score in Texas is not. Only five other states in the country have an average credit score that is worse than the average in Texas (656), which means many people look to debt consolidation in Texas to help them dig themselves out. (2)
Debt Consolidation In Texas: Knowledge is Power
Overwhelming debt leads one to look for answers, and for Texans, that’s not any different. The difference, however, is that debt consolidation TX is unique in that Texas legislators have enacted additional state laws to complement federal laws that protect Texas citizens from financial punishment and not knowing about your debt consolidation TX options can make a big difference in how your debt repayment plays out.
The Texas Debt Collection Act is specific to Texas and acts similarly to the Fair Debt Collection Practices Act, which is a federal law that protects consumers from unfair collection practices. That’s important when you’re in significant debt and collectors just won’t leave you alone. And, the Texas law goes further to protect Texans by prohibiting anyone who is attempting to collect on a debt from abusive, fraudulent or misleading practices, unlike the Federal law that only covers 3rd party collectors.
But if you’re struggling under the crushing weight of debt from medical bills, credit cards or other consumer debt, you may not know what options you have when it comes to getting rid of debt. That’s why finding someone who is knowledgeable and experienced in helping create Texas debt consolidation plans is crucial.
Texas Debt Consolidation Planning: There Is Hope
While the burden of debt may leave you full of anxiety and feeling hopeless, UmbrellaDEBT wants to work with you and help find the right solution to your debt. You don’t have to stay up at night worrying about what to do; UmbrellaDEBT has the education and experience you need to help you here in Texas, and they’ll explore the best way to break you free from the bondage.
Whether it’s debt consolidation in Texas or debt settlement in Texas, UmbrellaDEBT will help create a plan for you. If you’ve been wondering whether Texas debt consolidation is right for you, contact the professional staff at UmbrellaDEBT. They want to talk to you and guide you through the steps to financial freedom, and all you need to do is take the first step. Make the call and get on the path to living an abundant, debt-free life!