Regardless of your current situation, if it has become difficult to balance multiple payments and stay on top of your debt, we can help. Utilizing Loan Ridge to find debt settlement and consolidation loans might be the solution you need to finally get back in control and move toward financial freedom. We match you with a range of debt consolidation solutions that fit your needs.
Here are some of the debt consolidation options you can access through Loan Ridge:
- Credit Card Debt Consolidation: One of the main reasons consumers choose debt consolidation options is credit card debt. It gives you the opportunity to lower overall payment stress by combining all credit card debt into a single monthly installment.
- Auto Repossession Debt Consolidation: If your car was repossessed because of past debt, you can apply to include that remaining balance in your debt consolidation loan.
- Overdue Phone or Utility Bills: If you have past-due utility bills or phone bills, you may be able to include them in your debt consolidation requests.
- Student Loan Debt: If you have a private, non-government-insured student loan, you can apply to include that in your debt consolidation program.
How Texas law applies to a debt consolidation loan
Texas Finance Code Chapter 342 covers regulated consumer lenders, the license a company needs to make consumer loans at rates above 10%. Chapter 393 covers credit access businesses, which arrange loans through a third-party lender. Loan Ridge lends only in Texas, Missouri and Utah, and a debt consolidation loan taken out here is a written credit agreement with a set repayment schedule, not a payday advance.
Checking your lender is licensed in Texas
Look the company up in NMLS Consumer Access, the registry Texas now uses for consumer-credit licensing, or call the OCCC on (512) 936-7600. The regulator is the Texas Office of Consumer Credit Commissioner (OCCC), Finance Commission Building, 2601 N. Lamar Blvd, Austin, TX 78705, phone (512) 936-7600. We would rather you checked.
What this looks like in Texas
A borrower in Houston with a 580 score and a steady paycheck is the sort of application Texas banks routinely decline. That is the gap a small regulated consumer loan fills. We serve borrowers in Houston, San Antonio, Dallas, Austin and across the rest of the state.
Texas questions about debt consolidation loans
Who regulates lenders in Texas?
The Office of Consumer Credit Commissioner (OCCC) licenses and examines consumer lenders in Texas. Regulated consumer lenders operate under Chapter 342 of the Texas Finance Code, and credit access businesses operate under Chapter 393. You can check any company in NMLS Consumer Access or call the OCCC on (512) 936-7600.
How do I check a Texas lender is licensed before I apply?
Search the company name at nmlsconsumeraccess.org, and if anything looks off, contact the OCCC directly at 2601 N. Lamar Blvd, Austin, TX 78705. Never send money up front to anyone claiming to release a loan afterwards.
