Fort Worth Debt Settlement
If you are living in Fort Worth, Texas, drowning in debt and are looking for an ethical way at getting rid of it, debt settlement may be the best solution for you. Typically, debt settlement allows you to pay a lump sum in an amount much lower than the original balance. It is designed for people who want to avoid bankruptcy and start fresh without the financial burden of not taking action.
Fort Worth Debt Statistics
If you are living in Fort Worth and in debt, you’re not the only one. According to recent statistics, Fort Worth, Texas has a taxpayer burden of $12,300, earning a “D” grade from various platforms. What this means is that on average, each person living in Fort Worth needs to come up with over $12k in order to break even on their debt.
The local government is also struggling with its own debt issues. The city itself needs $3.2 billion in order to repay its debts. as it has $1.8 billion in liquid capital but over $5 billion in bills.
Find Debt Relief Options in Fort Worth, Texas
There are several debt relief options available for those living in the Forth Worth area. These options help people get out of their financial stresses:
Balance Transfer Cards
With excellent interest rates and transfer fees that range from zero to low, a balance transfer card can be a great option for those who are looking to consolidate their debt and pay it down as quickly as possible. The downside with these cards is that if they are not paid off in time, then you are left with a bounce back in high interest.
Fort Worth Debt Management or Credit Counseling Program
If you are in the Fort Worth area, debt management or even credit counseling may be the right choice. These types of options provide the person in debt with a free solution. With these programs, a debtor can consolidate their monthly payments into a single one made to a credit counseling agency, after which the respective credit counseling agency can attempt to negotiate lower interest on behalf of the debtor as well. The downside of this is that these programs mainly focus on the interest rate and not the on the actual debt amount itself.
Fort Worth Debt Consolidation Loans
Living in Fort Worth with debt and using debt consolidation as an option may be a better alternative to making minimum payments. This type of debt relief method essentially involves taking out a low-interest loan to pay off your debt. Like the balance transfer option, a debt consolidation loan focuses on the interest rate, rather than the actual principal. The downside of course, is that by only focusing on the interest, this option cannot make a dent in the chunk (principal) of the loan itself.
Debt Settlement or Debt Negotiation in Fort Worth
Fort Worth debt settlement/negotiation stands out from other relief options. Reducing both the principal and interest rates is the focus with this type of debt relief. The right debt settlement company will have a well-established system in place to ensure negotiations are done properly, with your financial well-being in mind. The downside for this is that if you are locked into a plan, and stop paying the negotiated monthly fee, then the contract could potentially be null and void, and the creditors would be able to then go after you.
Filing for Bankruptcy in Fort Worth
This is an option that many people in Fort Worth have taken. It does cost money to find an attorney to help you file the paperwork, and the process, especially in court could be humiliating for some. Filing for Chapter 7 or Chapter 13 are a couple of the main options available, and even though the unsecured debt is wiped clean, the title does stain your credit report for seven years.
How Debt Settlement Works in Fort Worth, Texas
The way debt settlement works is by the agency negotiating the respective debt with the creditors on behalf of the debtor. Usually the debt is negotiated down up to 50% of the original amount, sometimes less. It all depends on the actual negotiation and whatever is decided in the final contract. Over time, the debtor pays the amounts in monthly installments to the agency. Then the debt is paid after an agreement is approved.
If the negotiation is done properly, the creditors will most likely agree to the contract. For them, this is better than having to chase the debtor down to the bankruptcy courts.
Benefits of Negotiating Debt in Fort Worth, Texas with New Era Debt Solutions
- No upfront or add-on fees. There are no upfront or hidden fees. With New Era Debt Solutions, we get straight to the point, and are honest with our clients. We take your situation seriously and make sure not to add even more stress to your plate.
- All-in-one service. We are not a broker or middleman. We do not take your problems and shuffle them off to another company. Everything is done in-house, including our customer service team, our attorneys, and sales reps. We stay with you throughout the entire process. Your situation is important to us.
- Experienced settlement firm. New Era Debt Solutions has settled over $250,000,000 in debt for its clients, since 1999. We have developed great relationships with the creditors, and this helps during the negotiations of the debt. Feel free to visit the client testimonials section to see first hand what our clients had to say about the program.
Start Your Journey to Freedom from Debt in Fort Worth Today
Having the stress of debt is one of the worst things that can happen to you. It can impact your marriage, friendships and even health. Hundreds of thousands of people in the United States are going through the roller coaster of figuring out when to pay what debt.
If you are living in the Fort Worth area and in need of settling and clearing your debt, then debt settlement may be the right option for you. Contact us at New Era Debt Solutions to get started on relieving your debt today.