Turbo Takeaways

  • Residents of The Alamo City carry an average credit card debt of over $13,000 per household.
  • Options for debt relief in San Antonio include debt settlement, credit counseling, and debt management programs.
  • San Antonio is known as a “sinkhole city” and is unable to cover its debts.
  • TurboDebt enrolled more than $5 million in debt from over 200 San Antonio residents last year.

San Antonio’s Debt and Economic Landscape

Famous for its stunning River Walk and historic landmarks, San Antonio is a hub of culture and industry. Local wonders like Missions National Historical Park, the state’s UNESCO World Heritage site, and Market Square, a showcase of Mexican heritage, make The Alamo City an attractive place to live and work.

The seventh most populated city in the U.S., San Antonio residents also carry a heavy debt burden. Since the city’s debt outpaces its income, it’s considered a sinkhole city. This means each citizen would need to pay $1,700 just to clear the city’s debts. This reflects a larger fiscal problem in The Alamo City, as residents carry some of the highest credit card debt in the country and rank in the ”Fair” category for average credit score.

Other areas of financial concern for San Antonio residents include unemployment, which has increased since 2022, and the housing market, which has seen a decline in existing home sales. Sales for single-family homes decreased by 9% from the previous year in June of 2023, showing that homeowners aren’t as willing to put their properties on the market.

Interest rates are also on the rise, which raises the cost of monthly payments on a new mortgage, making it increasingly difficult for first-time or existing homeowners to purchase new properties. 

If you’re struggling with debt as big as a plate of Texas BBQ, you’re not alone. TurboDebt helps indebted San Antonio residents through our advising and strategic consulting services and debt relief programs. Together, we’ve tackled over $5 million in outstanding debts.

Best Ways to Get Debt Relief in San Antonio

Snapshot of Top Debt Relief Options in San Antonio, TX

Here are more details about the top options for San Antonio debt relief:

Debt Settlement

If you’re struggling with $10,000 or more in unsecured debts like credit cards or medical bills, debt settlement is often an effective option for San Antonio residents. During a debt settlement, you or a third party reach an agreement to pay a portion of your debt in a lump sum instead of the full amount you owe.

Enrolling in a settlement program can make the process easier, as an agency handles negotiations with your creditors on your behalf. A debt settlement company helps you set up a monthly payment to a savings account that is later used to pay off your creditors. After paying fees to the agency for negotiating the settlement and managing your account, you typically pay significantly less than what you originally owed. You’re also more likely to repay your debts faster through this method. 

Debt Management Programs

Working with a San Antonio debt management program can also effectively eliminate your outstanding balances. Once you enroll in a program, you’ll create a debt management plan that may include negotiating for lower interest rates and waiving fees.

These programs often reduce your debts to a single monthly payment handled through a debt management company. However, once you start a plan, it’s important to make consistent monthly payments to avoid losing your reduced interest rate and any waived fees.

Credit Counseling

A credit counseling agency offers debt relief help to San Antonio residents through advice and financial education. Certified credit counselors work with you to share tips on budgeting and debt avoidance strategies. Some credit counseling agencies offer debt management programs as part of their services.

Debt Consolidation

The process of debt consolidation involves taking out a single loan to cover the total amount of your current debts and using it to pay off your existing creditors. Once your outstanding balances are paid off, you’ll have a single loan payment each month.

If your credit score falls in the “Good” category, you’re more likely to benefit from a lower interest rate when you take out a consolidation loan. However, this solution may not be ideal for San Antonio residents with “Fair” or lower credit scores.

Debt Forgiveness

Although rare, you may find a private or federal program offering debt forgiveness to drastically reduce or completely eliminate your existing debt. Most opportunities for debt forgiveness come from federal agencies at the state or national level. Your income or profession might qualify you for student loans or even mortgage debt forgiveness.


Bankruptcy is a last resort for most San Antonio residents struggling with debt, as it negatively impacts your credit for up to ten years, or even more in some cases. Individuals can file for Chapter 7 or Chapter 13 bankruptcy to either eliminate or restructure debt payments.

During the bankruptcy process, you’ll appeal to the court system and work with a legal professional to determine your financial situation. You may also be directed by the courts to close out all credit card accounts or have certain assets sold off to pay creditors.

Texas residents considering bankruptcy should contact a law firm for legal advice.

Change Your Habits To Stay Debt-Free

After you determine the best debt relief option, make a plan and stay on track to pay off all your debts. Brad Reichert, Founder and Managing Director of Reichert Asset Management LLC, offers this advice for debtors once they clear all outstanding balances:

 “Once you utilize one of these debt relief methods to get yourself back on track financially, it’s important to recognize and remember the reasons, decisions, and circumstances that originally got you into debt in the first place.” 

Reichert adds, “This way, you avoid repeating history all over again! Just like the citizens of San Antonio often say, “Remember the Alamo!” you have to say to yourself, “Remember what happened the last time!” whenever you see your debt start to overrun you all over again.”  

TurboDebt Helps San Antonio Residents Get Out of Debt

In 2022, TurboDebt enrolled a total client debt of $5,007,108 from San Antonio residents. Our debt relief company provided services for hundreds of clients with an average debt load of $21,961. 

Let us help you, too, through our personalized advice, strategic planning, and debt settlement programs. We take the time to understand your unique financial situation so you get the help you need to live debt-free. If you’re facing financial hardship, start changing things today with a free consultation.

Signs You May Need Debt Relief

If you’re struggling to pay off debt, look for these key indicators to recognize when it’s time to seek assistance:

  • Carrying an outstanding balance on multiple credit card accounts
  • Struggling to pay monthly bills like utilities and rent
  • Borrowing money to make purchases
  • Lacking extra cash for an emergency fund or savings

Another factor to consider is your debt-to-income ratio (DTI). This figure indicates how much debt you carry in relation to what you bring in each month. Your DTI is calculated as a percentage, so the lower, the better. 

To determine your DTI, just add up your recurring monthly payments for your rent/mortgage, auto & student loan(s), and credit card payments, then divide that total number by your gross monthly income before taxes. (Do not include your monthly expenses for food, utilities, property/health insurance, clothing, or any discretionary expenses.)  Next, multiply the result by 100 to get a percent.

Meeting your expenses each month can become a challenge when you keep building up excessive debt. If your DTI exceeds 35%, it’s a good idea to look for the right debt relief option. TurboDebt offers personalized solutions to help you pay off debts and start rebuilding wealth.

Top Types of Debt to Get Relief from in San Antonio

Residents of San Antonio, TX, struggle the most with these types of debt:

Credit Card Debt

Many Americans struggle with credit card debt, and Alamo City dwellers are no different. It’s the kind of debt that gets you stuck in a cycle because of high fees for late or missed payments and sky-high interest rates when you only make a minimum payment on your balance. Creating a plan to consistently pay off your accounts or settling for a reduced principal amount may be your best option for tackling this kind of debt.

Business Debt

While the low living costs and economic incentives in San Antonio attract entrepreneurs, the costs of starting and running a business cause many company owners to take on personal debt. The Alamo City offers fee waivers, bond financing assistance, and tax abatement, but these incentives may not be enough. When you take on excessive business debt, it’s time to make a plan to reduce your outstanding balances and increase your revenue.

Homeowner Debt

Mortgages account for the largest portion of debt in American households, with San Antonio residents paying over $1,700 a month on average toward owning their homes. Since mortgages are secured debts, the situation gets serious when you can’t make payments and risk losing your home. Paying off mortgage debt is a priority, so you may need to seek assistance to budget and pay off other debts to avoid foreclosure.

Divorce Debt

A divorce can drain you both emotionally and monetarily as you work through dividing assets and debts. Although you may be prepared to end your relationship, you may not have the ability to take on debts that come from splitting with your spouse. Divorce costs alone can drain your savings and leave you struggling to pay bills, making it essential for you to plan a way to get out of debt after divorce proceedings.

Retirement Debt

Retiring in San Antonio, Texas, can be a great option for those ready to leave the workforce. U.S. News ranks San Antonio as the 5th best place to retire in The Lone Star State, citing lower housing costs and great amenities in and around the historic city. But if you haven’t saved up enough for retirement, even living in a low-cost city like San Antonio can be tough on a fixed income.

Medical Debt

With top-quality facilities like Methodist Hospital San Antonio, Alamo City residents can get the health care they need, but at what cost? Medical bills from even routine procedures can exceed insurance benefits. When medical debt drains your finances, relief options like debt settlement can help you clear your accounts so you can start saving for the future.

San Antonio Debt and Finance Statistics

Here’s a dialed-in look at some key data and stats on debt in San Antonio, Texas:

Consumer Debt

Consumer debt takes several types of payments into account. The total average on mortgages, auto and student loans, and credit card balances gives a picture of how much debt an individual or household carries. San Antonio’s average consumer debt currently sits at $95,578, according to credit bureau Experian.

Several recent studies and data from the U.S. Census Bureau shine a spotlight on consumer debt, including debt from cities like San Antonio.

  • Household Credit Card Debt: $13,320
  • Average Student Loan Debt: $18,790
  • Average Auto Loan Debt: $18,958
  • Average Monthly Mortgage Payment: $1,747

San Antonio’s population also carries high amounts of debt in collections, with a median of $1,988 per resident in Bexar County.


Although numbers have declined in the past decade, 1,034 residents of San Antonio still filed for bankruptcy as of August 2023.

Average Income and Employment

According to the 2021 U.S. Census, San Antonio residents made a median household income of $55,084.

San Antonio’s unemployment rate rose to 3.8% in May of 2023, an increase from the previous year and higher than the national average.

Job growth slowed from May to June of 2023 in San Antonio, with mining jobs seeing the biggest increase while hospitality and government roles decreased during this period. Average hourly earnings for The Alamo City were $27.94 during these months.

Credit Scores

Alamo City residents carry an average FICO credit score of 665. This score is considered “Fair” on a scale from “Poor” to “Excellent” because it’s below the average consumer’s credit score in the U.S. The Fair Isaac Corporation (FICO) assigns consumer credit scores based on factors like your payment history, number of active accounts, the percentage of available credit you use, and even the type of debt you owe at a given time.

Credit scores in the “good” range of 670 or higher make it easier to secure lower interest rates and give you more options from lenders. This means San Antonio residents are at risk of lower scores and may have to work harder to restore their credit.

San Antonio Residents Can Find Relief with TurboDebt

Debt can create a heavy burden for Texans in The Alamo City, but you don’t have to carry it alone. Finding the right debt relief option starts with the right organization to help you. You can start by checking for legitimate Texas debt relief programs through online reviews and by using the Better Business Bureau (BBB) to avoid scams. 

If you’re looking for a Texas debt specialist, TurboDebt is here to assist you. We’ve helped San Antonians enroll millions of dollars in unsecured debts like credit cards and medical bills. Our tailored debt relief services get you started down the path toward financial freedom. Contact our experts today for your free consultation.

TurboDebt is not affiliated with the city of San Antonio, Texas, and does not offer any official debt relief programs sanctioned by the city.