Texas debt settlement - Best way to get debt free and save
Are you on a rocky financial boat and wondering how to get out of debt in Texas? Are you seriously thinking about filing bankruptcy? If yes, then wait a minute. Don’t be disheartened since there’s still a way to save your financial boat. And that is debt settlement.
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Guide to debt settlement in Texas
This is basically the process to eliminate your unsecured debts through one-time payment towards the outstanding balance in exchange for the forgiveness of the remaining amount.
- Oaki owes $15,000 on credit cards
- Oaki goes to OVLG (debt settlement company)
- He explains his situation and then goes for debt settlement program
- OVLG negotiates and reduces the overall balance
- Oaki makes one payment and settles credit card
- Oaki pays $8,000 and gets rid of credit card debt
- Oaki pays tax to the IRS
- Next, he looks at credit report and becomes sad
- He decides to get credit repair services
- He takes steps to rebuild credit
* Any amount saved above 600 is taxable
* Credit score will drop as you’re not paying the full amount.
How debt settlement saves you in Texas
- 1 It reduces your outstanding balance
- 2 It takes away penalties and late fees
- 3 It removes over the limit fees
- 4 It puts a full stop on the accruing interest rates
Best way to go for debt settlement in Texas
If you’ve what it takes to negotiates with creditors, then DIY debt settlement is the best option. But if you can’t, then it’s a better to get a company and settle your balance. It isn’t tough to get a list of Texas debt settlement companies from the Internet. But what’s hard is to find the best one.
Wondering how to find the best settlement company in Texas? Don’t know what to do now? Well, you don’t have to go anywhere for a solution. Just call at our TOLL FREE Number (800)-530-OVLG and you’ll get your answer.
Why OVLG should settle your debts in Texas
- 1 It follows Texas debt settlement laws
- 2 It’s attorneys are good negotiators
- 3 It analyzes your problem and then solves it
- 4 The fee structure suits your budget
- 5 It has helped clients to settle accounts for 8 years
- 6 It gives you a refund if debts are not settled
Real Texas debt settlement companies vs scam companies
Fees
Settlement agreement
Voluntary contribution
Financial evaluation
Debt collection calls
Doesn’t charge upfront fees
Will give you in writing
Won’t create a pressure for it
Will analyze first, then offer a solution
It will help to reduce
Charge upfront fees
Give you verbal promise
Create pressure and charge fees
Will give a solution without analyzing finances
It’ll claim that calls will stop
Texas debt laws - A brief glance
Statute of limitations
The statute of limitations period in Texas is for 4 years. This means that collection agencies can sue you for the 4 year old delinquent debts.
Debt collection practices
The Texas debt collection laws are quite similar to the federal laws. The laws protect consumers by restricting the powers of collection agencies. These are:
- Collection agencies can’t abuse or threaten to abuse consumers
- They can’t create stories to collect money
- They can’t call consumers before 8am or after 9pm
Should you consult debt settlement attorneys in TX?
There is a big reason to consult Texas debt settlement attorneys and that is their profound knowledge on state laws. The other reasons are given below:
- 1 They know about the Texas debt collection laws in details
- 2 They know how much your wages can be garnished
- 3 They can guide you to avoid lawsuits
- 4 They know the right way to navigate settlement process
- 5 They know how to deal with creditors’ dirty tactics
Where to get legal help
Texas State Attorney General Address
Main Number: (512) 463-2185
Fax Number: (512) 473-8301
300 W. 15th Street, 9th Floor
PO Box 12548
Austin, TX 78711-2548
You can get information at (512) 463-1722 or at library@sll.texas.gov.
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