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Texas Debt Relief Programs

Learn how Texas debt relief programs work here at

Texas debt relief programs include debt negotiation and settlement services, debt consolidation, debt validation, and consumer credit counseling. Texas residents that can’t afford to pay more than minimum payments, may want to consider debt settlement. Texas consumer credit counseling companies can also help, but they will only provide a minimal reduction in monthly payments by reducing interest rates.

Here at Golden Financial Services, our IAPDA certified counselors will teach you about how each Texas debt relief program works, so that you can make an informed choice about which route to take. You may decide not to use a program at all, and if that’s the case we even have free tools to help guide you along.

Need to consolidate federal student loans? You don’t need to hire a debt consolidation company in Texas to consolidate your federal student loans because you can consolidate on your own. The choice is yours. If you’re interested in consolidating your student loans on your own, here’s a step by step guide on how to consolidate, reduce your payments, and get loan forgiveness.

Need to pay off your credit cards faster but without using a program? Here’s a free debt snowball calculator tool to help you out.

Interested in consolidating your debt through some type of debt relief program? Texas residents can call (866) 376-9846 for a Free Consultation at any point. Get the facts about each program, how they work, and find out what your best option is.

All debt relief programs come with pros and cons, which is what the following page will also explain.

Why use Golden Financial Services for Texas credit card debt relief programs?

Unlike most Texas debt settlement companies, here at Golden Financial Services, we offer multiple options. We can help you find the best program based on your specific goals and financial needs. Clients often tell us, the monthly payments that we offer are lower than what other Texas debt relief companies previously quoted them.

Enroll with a reputable Texas debt relief company that has a high Better Business Bureau rating.

We will only recommend a Texas debt relief company that has a high BBB rating, a long track record of success with few complaints, and one that is compliant with the laws.

At Golden Financial Services, we are A+BBB rated and IAPDA Accredited.

Texas BBB Debt Settlement.Negotiation.Consolidation.Iapda.Accredited .jpg
Click Image to View BBB Profile for Golden Financial Services


Texas Debt Negotiation & Settlement Fees

With debt settlement programs in Texas that we recommend, the maximum fees that any debt settlement firm will charge equals 25% of the total debt enrolled. No fees get charged until after each debt gets settled and at least one payment has been made to the creditors, in accordance with federal laws. With fees and all interest included, Texas debt settlement programs allow you to pay a significant amount less than the total amount owed, but is this savings worth the negative effect that this type of program can have on credit scores?

Texas Consumer Credit Counseling Company Fees

When it comes to consumer credit counseling programs in Texas the only fee that is allowed to get charged is the monthly fee that cannot go above $50 per month, but you will pay your entire credit card balance back in full, plus interest. Consumer credit counseling programs in Texas will cost more than debt settlement in the end, even though the fees are much less due to the fact that all of your balance must get paid in full.


Texas Debt Relief Program Benefits Include:

  • Become debt free fast (within 18-48 months with debt settlement) (within around 54 months with consumer credit counseling)
  • Save money and eliminate a portion of your high-interest rates with consumer credit counseling
  • Get one lower monthly payment (with all settlement and consolidation options)
  • Have your balances negotiated down to an affordable amount

Click to Call (866) 376-9846 for a Free Savings Quote & for Eligibility

Texas Debt Statistics

texas debt statistics


Before learning about Texas debt relief options, it’s important to know a few facts about the state’s overall debt problem.

  • Average Debt Per Consumer in Texas: The average citizen in Texas carries around $13,500 in debt.
  • Credit Scores: Texas residents have among the lowest credit scores in the country.
  • Identity Theft in Texas: Texas has one of the highest rates of identity theft in the country as well.
  • Student Loan Debt: The average student in Texas has $22,140 in student loan debt.
  • Credit Card Debt in Texas: Three Texas cities rank in the top ten for consumers with the highest credit card debt. San Antonio ranks first at $5,177. Dallas ranks fifth with $4,936. Austin comes in eighth with $4,791.
  • Bankruptcy: Bankruptcy filings in Texas dropped in all three federal judicial districts in the state. The Northern District saw a decline of 2.4 percent, while the Western District saw a decline of 8.4 percent. The Southern District had the biggest drop with 11.4 percent fewer filings between 2011 and 2012.

What Golden Financial Services offers, that other debt relief companies in Texas don’t offer:

  • At Golden Financial Services, IAPDA Certified Debt Counselors will give you a FREE credit report analysis to spot identity theft
  • You get to learn all of your debt relief options within a single phone call. Other Texas debt relief companies offer you only one program, so you would have to call multiple companies to get the same information that you can get in a single phone call at Golden Financial Services Golden Financial Services can enroll you in whatever program you choose.
  • Golden Financial Services is one of the oldest debt relief companies in Texas that maintains zero unresolved Better Business Bureau complaints and an A+ rating (click to verify at

>Do you qualify for a Texas debt relief program?

To find out if you’re eligible for a debt relief program, TX residents must follow these few quick steps:

Debt Settlement Texas, Debt Relief Texas, Debt Consolidation Texas

Step 1: Talk to an IAPDA Certified Texas Debt Relief Professional

You start off with a free consultation with one of our IAPDA Certified Texas debt relief counselors. IAPDA stands for the International Association of Professional Debt Arbitrators. Reputable debt settlement and consolidation companies in Texas are all members of this organization. The IAPDA makes sure that your debt specialists are highly trained and operate correctly.

Talk to an IAPDA Certified Expert for FREE @ (866)-376-9846

Step 2: Texas residents can get a free credit report and score

You will get a free credit report. One of our IAPDA certified counselors will review your credit report with you. We need to see what creditors you owe, the balances on each account, and payment history. On our end, we will plugin your creditors’ names and all of the information into a password encrypted software that will give us all of your debt relief options in a matter of seconds.

Your private data remains safe and confidential in our software, and will only be accessed by our team at Golden Financial Services and our approved partners that assist in getting you out of debt.

Step 3: Learn what Texas debt relief program you qualify for

Your monthly payment options will be presented to you for each program. Whichever program you qualify for, will offer flexible monthly payment options. You can pick how fast you want the plan to go, ranging from 18-48 months (depending on how fast you can afford to become debt-free)

You get the power to make a choice based on what suits you best, here at

We will go over exactly how each program works, including the benefits and downsides of each plan so that you can intelligently pick your best option.

Transparency and disclosures are at the forefront of what we do here at Golden Financial Services. Here’s why: We’ve found that, in order for clients to be successful in resolving their loans and bills, they need to understand what potential consequences could occur and how these potential consequences will be dealt with if they were to occur. Which brings us to step four:

Step 4: Get TX debt relief program disclosures & compliance call

We send you the paperwork to review and sign electronically. You then need to complete a thirty-minute phone call where one of our compliance managers evaluate your program and all of the disclosures, ensuring you understand all aspects of the plan.

Texas debt settlement and validation program disclosures

  1. With debt settlement and validation programs, accounts must go to third-party collection status before each debt can get negotiated down and settled, or disputed. Consequently, a person’s credit score will go down over the first year of the program, and late marks and collection accounts will get inflicted on credit reports. By settling a debt, this action will not remove late notations and collection accounts from a person’s credit report but if debt gets proven to be legally uncollectible through a validation program, in this case, it can no longer legally remain on credit reports.
  2. If you don’t pay your creditors in full every month there is a chance that they can attempt to sue you. All debt relief programs in Texas that we offer at Golden Financial Services include some type of lawsuit protection or defense, where a negotiator that specializes in settling lawsuits will go in and negotiate a settlement prior to the court date. The downside with settling a debt after legal action has occurred is that settlements won’t be as attractive and will cost more.  If you get sued while on a program you’ll need to send the summons over to the debt negotiators so that they can prioritize settling the lawsuit and help you resolve it quickly. Just make sure whatever Texas debt relief company you’re talking to is being upfront and transparent about the fact that you could get sued and make sure they have a clear plan to action that will be taken if a lawsuit was to occur.
  3. With Texas debt settlement negotiation programs after an account is reduced and paid off, for less than the full amount, a portion of the debt gets forgiven. The amount that gets forgiven (your savings) is seen by the IRS as “taxable income”. Talk to your accountant about this aspect of the program, but solutions are available that most accountants can help you with in order to illustrate insolvency so that you don’t have to pay the tax liability.
  4. Just to reiterate, your creditors are not paid on a monthly basis with debt settlement programs in Texas. Instead, your payments go into a special savings account (also called an FDIC insured Trust Account) that you have full control over. After a deal is made with one of your creditors to settle a debt for less than the full amount you’ll get notified about the deal and must approve it before the deal gets finalized and funds are released from your savings account. When one of your creditors agree to reduce a debt and you agree to the terms, at that point the funds get released directly from your savings account and paid to the creditor. If you cancel your program before an account is settled and resolved, 100% of the funds in your savings account are returned to you. After the deal is finalized with one of your creditors and at least one payment is made to that creditor towards the agreed-upon settlement amount, at that point, the debt settlement company’s fee gets charged and comes out of your savings account. This fee will already be available inside your savings account, it’s not an additional fee that you’ll have to pay on top of your regularly scheduled monthly payment, it’s already been incorporated into your scheduled monthly payments.
  5. There’s no guarantee any creditor will settle for a certain amount, what we provide you is a quote based on past client results. No Texas debt settlement company can tell you an exact amount that creditors will be willing to settle for. Your creditors are not legally obligated to settle a debt for less than the full amount owed, but in most cases, they will agree to a settlement because we’re dealing with collection agencies that have purchased the debt for a cheap price and the original creditors have already written off the debt.
  6. Not all clients make it through debt validation or settlement programs due to various reasons, like maybe they can’t afford to continue making payments for the entire plan and end up canceling and filing for bankruptcy debt relief. Texas residents are legally entitled to canceling any debt relief program in Texas at any point. We do not offer any type of bankruptcy referral services at Golden Financial Services. If you cancel a debt relief program before finishing it you may end up with more debt and in worse financial shape than before you started. After joining a settlement or validation plan interest and late fees continue to accumulate making balances grow even higher, so if you drop out before finishing the program you could end up with more debt than what you started.

Consumer Credit Counseling – Texas Disclosures

Texas consumer credit counseling programs do have a negative effect on credit scores, but this adverse effect occurs at the end of the program when credit card accounts get reported closed.  Also, after joining a credit counseling program it is reported on your credit report that your accounts are being managed by a consumer credit counseling company, and some creditors frown and look down upon this type of credit notation.

Therefore, even though payments are made on time every month to creditors, consumer credit counseling will still have an adverse effect on credit.

Credit scores can also improve after joining a credit counseling program because accounts can go from being delinquent to getting re-aged to show payments are current. In many cases, consumer credit counseling programs have less of a negative affect on credit scores at first compared to financial hardship programs that require you to stop making payments to creditors each month.

The bottom line:

Texas residents with a high credit score that can afford to pay more than minimum payments comfortably, should avoid debt relief programs at all costs because high credit scores are not easy to build. Check out the 10 best ways to clear high credit cards for 2020.

Step 5 – Your TX debt relief program starts

You get approved or denied for the TX debt reduction plan at this point.

Your monthly payment won’t start immediately, it will be scheduled for 1-3 weeks out.

Debt Consolidation Texas

In Texas, debt consolidation allows the consumer to combine all credit into one monthly payment. Often, the credit counselors work with creditors through the consolidation process to lower interest rates in order to keep the consolidated monthly payments affordable. This means payments become more manageable and allow the consumer to have more disposable income for savings or retirement. There is also a reduced risk of credit-damaging late payments, as well as the late fees that come with them, due to “forgetting” one of the many different debt payments the consumer is dealing with without debt consolidation. For many consumers, debt consolidation Texas programs offer a simple, easy solution to managing debt.

Debt Settlement Texas

Debt settlement in Texas is different from debt consolidation. Also known as debt arbitration or debt negotiation, the practice involves negotiating with creditors to accept a lower balance that the creditor accepts as a balance paid in full. Although the practice may result in a lower credit score temporarily, the debtor pays off the balance sooner at less than what is owed. Debt settlement often helps consumers avoid bankruptcy.

A debt settlement program includes only one monthly payment for each client.  That payment is deposited into a trust account.  As money accumulates in the trust account, one by one each creditor is settled and paid, until a person is debt-free.  Creditors are not paid on a monthly basis, like with consolidation services, but rather paid in lump sum payments.  Fees and settlement funds are all included in the monthly payment.

At Golden Financial Services, their servicing negotiators will often lump together hundreds of client’s worth of debts at a given time when negotiating.

This creates leverage that allows our negotiators to solidify larger savings for each client.
Golden Financial Services pays its debt negotiators the settlement fee when each debt is settled.

All of this information is clearly disclosed verbally to each client on their first consultation, on the client agreement that every client must sign prior to them being approved on the program and on the compliance call that every client must complete before they are approved on the program.

Once the negotiators have reached an agreement with each creditor, the money in escrow is sent to the creditor, and the balance is considered paid. Each creditor varies in what percentage deduction they will accept as debt settlement, which is why it is critical to work with a qualified debt settlement company in order to achieve the best results.<

Texas Debt Relief Reviews about Golden Financial Services

Check out the Top 10 Debt Relief Companies by Trusted Company Reviews.

Check out the Top 10 Debt Consolidation Companies for 2020.

Check out Texas consumer reviews at the Better Business Bureau (

Check out debt relief program reviews by consumers in Texas on Google.

Check out Yelp reviews 

See what Texas clients had to say on Facebook

See Texas debt relief program reviews on Shopper Approved 

Check out reviews on Golden Financial Services (more than 90% of reviews are positive)

At the BBB, Golden Financial Services has an A+ rating. Also, we are certified by the International Association of Professional Debt Arbitrators (IAPDA). Rather than us directing you in where to check our online reviews, we will leave that part up to you!

You can safely get out of debt here at Golden Financial Services through multiple options. We will only offer you options that are performance-based, where you only end up paying if results are achieved.

Talk to one of our IAPDA certified counselors for a free Texas debt relief review of your options. Get a free credit report and recommendation right now.

Student Loan Debt Relief in Texas

Owe federal student loans? You can consolidate them through and then apply for an income-based repayment plan that offers a low monthly payment and loan forgiveness. These plans are primarily based on family size and income. If you have a low income and several family members that you help support, your monthly payment could be as low as zero dollars per month. Police officers and teachers in Texas can get loan forgiveness in only ten years. There are some fantastic income-based student loan debt relief and consolidation programs for Texas residents to turn to, that you can learn about by visiting this page next. 

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