Texas debt relief, settlement and consolidation programs can help you:

  • Become debt free fast
  • Save money and eliminate interest
  • Have a low and consolidated monthly payment
  • Deal with credit problems


Here is a Summary of Your Debt Relief Options in Texas

Texas Debt Relief, Settlement and Consolidation Services


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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. 59 in student loan debt.
  • Credit Card Debt in Texas: Three Texas cities ran in the top ten for consumers with the highest credit card debt. San Antonio ranks first with $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! 
  • Programs include credit repair to dispute derogatory items that don’t belong on your credit report (for no additional cost)
  • Hardship debt relief programs offered through Golden Financial Services can save Texas residents up to 40% 
  • Golden Financial Services is the oldest debt relief companies in Texas that maintain zero Better Business Bureau complaints and an A+ rating (click to verify at BBB.org)


Do you qualify for a Texas debt relief program? Talk to an IAPDA Certified Expert for FREE @ (866)-376-9846


Debt Settlement Texas, Debt Relief Texas, Debt Consolidation Texas

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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. (money/howstuffworks.com/personal-finance/debt-management/debt-consolidation1.htm)

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 negotiatingThis creates leverage that allows our negotiators to solidify larger savings for each client.

Golden Financial Services pays their 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.

Student Loan Debt Relief in Texas

Because student loans are normally federally insured loans, they may not be eligible for debt consolidation or debt settlement Texas programs. However, in an effort to encourage employment and help consumers with the rising cost of post-secondary education, the government offers several options to help students manage student loan debt. Plans include:

  • Income Contingent Repayment Plan – For Federal Direct Loans, but not PLUS loans. Payments are based on income and may be as low as $5 or nothing. If the loan is not paid in full within 25 years, the government cancels the remaining balance.
  • Income-Sensitive Repayment Plan – For FFEL loans. Payments are based on annual income, family size and the amount of the loan. However, payments must cover the interest that accrues on the loan, and it must be paid in full within ten years.
  • Income Based Repayment Plan – For both Direct and FFEL loans, but borrower may not be in default to qualify. This plan offers more flexibility, and debt is eliminated after 25 years of payments.
  • Hardship Repayment Plans for Perkins Loans – Perkins Loans require repayment of at least $40 per month, but repayment may be extended for an additional ten years due to prolonged unemployment or illness.

For students without financial hardship, there are still options available, including graduated payment plans, longer repayment terms, or consolidation of student loans into one monthly payment.  Golden Financial Services offers a program that helps students with getting signed up for the right student loan debt relief program, in order to have the lowest monthly payment.

For Texas consumers struggling with debt, learning more about Texas debt settlement or debt consolidation can reduce stress, eliminate the collection calls and help them get a fresh start toward financial freedom. This easy-to-use debt calculator can help you review all options available to you.

Need debt relief? Texas residents can call 866-376-9846!


  1. http://www.bls.gov/
  2. http://www.uscourts.gov/statistics/bankruptcystatistics/interactive-map.aspx