Debt Consolidation Options for Beaumont Residents

Located in Southeast Texas on the Neches River, Beaumont is a city in and the county seat of Jefferson County. If you were asked what the principal commodity of the area was you might answer, “oil” but back in the 1800s, the European-American settlers based their economy on the industries of lumber, farming, and activities at the port. Rice is an important crop in Texas with 23 counties cultivating the crop today thanks to Joseph Broussard who started an irrigation company and opened the first commercially successful rice mill in the state at Beaumont.

But oil is still the better known commodity in Beaumont as the area, along with Port Arthur and Orange, forms the Golden Triangle and has rapidly developed as one of the major petro-chemical refining areas in the country.

Whether you make your living in rice farming, lumber or oil, if you’re in debt, it can be a worry. It prevents you from enjoying your hard-earned money and everything your city has to offer. If your debt is weighing on you and you’d like to get it taken care of once and for all, make one phone call and you could be on your way to a solution to your debt.

Whether it’s debt settlement, debt counseling or debt consolidation, Beaumont residents can find help today. Call now for your free debt evaluation to find the solution that best fits your circumstances. There’s more than one way out of debt. Start your journey to financial freedom today and call for a free debt evaluation: 800-910-0065

debt relief program

What Are Your Debt Consolidation Options?

There may not be a one-size-fits-all solution to overwhelming debt, but some options could fit your debt situation better than others. Here’s an overview of what may be available to you in Beaumont.

Debt Consolidation

Debt consolidation could be a good option for Beaumont residents with more than $10,000 in debt. You can get a consolidation loan to cover your debts from a debt consolidation company or bank. Debt consolidation loans may simplify the debt repayment process. If you can secure a debt consolidation loan at a reasonable interest rate, you could make debt resolution less stressful.

Many consolidation loans require collateral — like a home or a car — that you must leverage in order to receive the loan. A secured loan is a bit of a double-edged sword. While it can help you get a lower interest rate, if you fall behind you could be in danger of losing your leveraged asset. That means your house could be foreclosed on or your car seized.

The other option is to get an unsecured loan. These are harder to come by and usually have a much higher interest rates because the lender doesn’t have any guarantee that you’ll repay the entire loan outside of a binding signature. An unsecured loan could help simplify your repayment process, but it could also lead to a greater amount of debt in the long run.

Debt Counseling

If you dealing with a low debt amount and want some budgeting tips so you can pay it off faster, debt counseling could be right for you. Debt counselors could help you build a budget that meets your needs and leaves extra cash in your account so you can pay off debt. Be aware that debt counselors also may refer you to debt consolidation services or other similar solutions. Beaumont residents should research debt counseling services in the area for a comprehensive list of services.

Debt Resolution

If you have a lot of debt, debt resolution could be your answer. With debt resolution, a company negotiates with your creditors on your behalf to reduce the total amount you owe. In the meantime, you build up funds into a special purpose account. When the debt settlement company reaches an agreement with one of your creditors, you settle the debt using the funds in your special purpose account. The process repeats with all your enrolled creditors until your debt has been resolved.

There are other options besides debt counseling, resolution and debt consolidation. Beaumont residents can also look into minimum payment plans and bankruptcy, though both options may be less favorable than those listed above.

Sticking with minimum payments will most likely lead to you paying more over time thanks to compounding interest. As for bankruptcy, it may be right for some, but it is typically viewed as a last resort, especially since it may have a negative effect on your credit score. That’s why it’s important to call 800-910-0065 today for a free debt evaluation and find the right solution for you.

Debt Consolidation in Beaumont

In addition to oil and rice, Beaumont is unfortunately known for, and has suffered through, some major hurricanes as well. In 2005 and 2008, Hurricanes Rita and Ike respectively caused some extensive damage to Beaumont and surrounding areas. A mandatory evacuation was ordered for residents, lasting about two weeks. More recently in August of 2017, Hurricane Harvey unleashed his wrath on this Southeast Texas city as well causing major flooding to the area.

Whether it’s a result of the hurricanes or for some other reason, if you’re in debt like many of your fellow Beaumonters, a possible solution could be just a phone call away. Speak with a debt specialist and find out how you can start your journey toward financial freedom.

It might not be right for you, but debt consolidation in Beaumont could be worth looking into. Don’t wait any longer to take care of your debt and achieve financial freedom. Get started right now; call 800-910-0065 today.

End Your Debt

Find out how our program could help.

  • One low monthly program deposit
  • Settlements for less than owed
  • Debt could be resolved in 24-48 months

Get Your Free Evaluation