Credit Card Debt

Providing the Credit Card Debt Relief Texas Residents Need!

If you are on the hunt for credit card debt relief, you are not the only one in a pickle. Every year, thousands of people worry about their low credit scores because they are unable to open a bank account or get the apartment they loved so much. 

Don’t worry if you are going through any of this since we have the solution to your problem. At Debt Relief Experts of Texas, our specialists know exactly how to get you out of your credit card debt. We also give you credit building and improvement tips so that you do not end up in a similar situation at any point in your life later. 

In our years of credit card debt relief services, we have noticed that people fall into the black hole of debt too easily. Since it is a repeating cycle, getting out of that hole is pretty difficult, especially if you do not have a Plan B in place. 

Abusing credit cards is very easy. Of course, if you do not have the money yet, you can go out and buy expensive furniture or a ton of clothes; you would want to do that, would you not? However, all these purchases later come to haunt you when you are unable to pay your balance. 

The momentary appeal and satisfaction of buying things you do not currently have money for leaves you in debt later. On the other hand, credit card companies use all the tricks in the book to make sure the customers cannot get out of this black hole. 

That is where we come in to give you a hand. We provide services in all parts of Texas, helping locals improve their credit scores and get out of debt. 

Get in touch with us today to learn more about our credit card debt relief Texas services.

debt relief texas

Get in touch with us today to learn more about our credit card debt relief services.

Leading Causes of Credit Card Debt

Did you know that American citizens have to pay over a trillion dollars in outstanding credit card debt? Sure enough, people must be doing something wrong to land themselves into so much debt. It turns out you are not only doing one thing wrong. In fact, there are a number of reasons leading to credit card debt. 

Here are some of them:

01.
Overspending

With the rise of online shopping, we have started spending more. Previously, we had to go to a store or a mall to shop for clothes or shoes. But today, it is easy to sit on the couch and order the latest pair of Doc Martin boots.

But most often, your paycheck may not cover the purchases you want to make. So, what do you do? You pay with your credit card. Many Americans pay for their shopping and vacations using credit cards.

At the moment, they are confident that they will pay the balance later, but when the time comes to do so, many fall behind on repayment. Thus, the cycle of never-ending payments begins.

Every month, you accumulate more and more debt while still trying to pay off the previous debt. The interest rate charged by banks and credit unions does not make getting out of this cycle any easier.

02.
No Emergency Fund

Not everyone overspends to satisfy their cravings for a vacation or clothing. Some people genuinely have an unprecedented problem, which they need money for.

For instance, your car might need immediate repairs for something. Or, you may have become a victim of a temporary disability. Due to these reasons, some people resort to using their credit cards since they do not have anything saved up for a rainy day.

However, doing so is not good for you since the debt will only make your life harder later.

03.
Medical Expenses

It comes as no surprise that medical care is extremely expensive in the country. To make matters worse, there are certain procedures the insurance companies do not pay for. When people fall prey to unexpected illnesses, they have no choice but to use their credit cards.

The result of a severe medical illness is often temporary disability or loss of income for some time. So, it is hard to generate the funds to repay the debt.

04.
Divorce

Getting divorced is no easy business either. On the one hand, it takes a financial toll on the family. On the other hand, it empties most people’s bank accounts since the process can cost thousands of dollars in some states.

Therefore, people often use credit cards for this process and end up with a debt that keeps increasing every month.

05.
Making Minimum Payment

Many people make the mistake of only paying the minimum amount. When you factor in the interest, your minimum payment only lowers your debt by a small portion. You are basically just paying the interest and only a small amount of your actual loan.

Therefore, it is a good habit to repay your debt in full at the end of the month. Making only minimum payments means the debt will keep piling up every month.

Why Should You Pay Off Credit Card Debt?

When providing Texas debt relief services to our clients, we always emphasize the importance of paying the debt in full so that they do not end up in the same situation again in the future. 

Here are some reasons paying off your credit card debt should be of utmost importance to you.

Less interest

When you pay off the full bill at the end of the month, you end up paying less interest on the whole. On the other hand, if you are only making the minimum payment, you will pay high interest.

Suppose your credit card debt for the month is $200, and the minimum repayment is $50. If you pay off as much as you can - let’s say $150 - you will only be paying interest on $50. But if you make the minimum payment, you are now paying interest on $150.

Financial Security

Being financially secure is very important because it gives you a standing in society and allows you to make life decisions that hold up well in the future. If you are drowning in credit card debt, a chunk of your income will go to paying it back every month.

On the other hand, if you pay off your credit card debt, you can save a lot of money every month that can now go to your emergency fund or year-end vacation.

Better Credit Score

Most people come to us for Texas debt relief for credit cards because they want to improve their credit score. Having a good credit score means you can get a loan when you need it and have access to almost all bank accounts.

On the other hand, if you have a poor credit score, you may not qualify for most bank accounts and credit cards. Likewise, some landlords do not rent their places to you if you have a poor credit score.

Most importantly, you need a good credit score to get a loan for an emergency.

Bill Reduction

At the end of the month, you have a number of bills you need to pay. These include utility bills, entertainment subscriptions, and good old credit card debt. But if you just pay off your debt, you will not have to deal with an extra and unnecessary bill every month.

Then, you can spend this money on something else, such as saving for your kid’s college tuition.

Get Mortgages

At a certain point in life, you would want to buy your own home. However, the unfortunate thing is that mortgage companies do not consider people with low credit scores worthy or reliable candidates for a mortgage.

If you pay off your credit card debt every month, you will definitely have a better credit score, which will allow you to qualify for car loans and mortgages. As discussed earlier, paying off your debt gives you financial security.

Mental Peace

Keeping all the monetary aspects aside, starting a new year without any debt feels like a weight has been lifted from your chest. Who would not want that? Often, people end up in credit card debt because they are not careful earlier.

Then, they are unable to pay their debt off and settle into mental anguish of extra bills and debt that just does not seem to end. On the other hand, if you were just careful earlier and did not make any unnecessary purchases, you would not have any problems later on.

Most importantly, paying off the debt on time means you do not incur high interest rates. Thus, you will have matchless mental peace.

Texas Debt Relief for Credit Card Holders

The Debt Settlement Texas Can Trust

Our credit card Texas debt relief services are aimed at helping people get out of this vicious cycle so that they can be more financially secure and stable. We have a history of satisfying and helping clients by freeing them of credit card debt and lessening their financial worries. 

If you have any queries or want to learn more about what we can do for you, call us today.