Need debt settlement help? Putting a dent in debt is all about being proactive and using any and all online options at your disposal. The best debt management companies will provide you with consultation, debt relief options and a plethora of resources to help you get your life back on the right track. Even the usage of a simple debt management calculator can help with professional debt management, tax organization and asset distribution.
One of the most prevalent forms of debt for couples and families everywhere is household debt. The average American household with debt carries nearly $15,000 in credit card debt as well as $129,000 in overall debt — this can include, but is not limited to, mortgage, fees, repairs and loans. Although household income has grown by 26% over the past 12 years, the cost of living has only continued to rise. It has reached nearly 30% in the same time period according to ongoing studies and, as such, sees many individuals and couples seeking out credit counseling.
Student Loan Debt
On the other hand, student loan debt significantly impacts young adults everywhere. Around one in five Americans between the ages of 18 and 24 qualify themselves as being in ‘debt hardship’ and, as such, are frequently looking for debt settlement help. Consumers vastly underestimate or underreport just how much debt they have — the year 2013 saw actual lender-reported credit card debt nearly 155% higher than actual borrower-reported balances.
Medical debt is one of the biggest causes of bankruptcy and financial stress in the country. Over 25% of Americans admit to not paying their bills on time and nearly 40% of all American households do not have enough in liquid financial assets to support themselves for at least three months if they lost a job or became more financially unstable. The average American household also pays $6,650 in interest every year, pushing medical debt to the forefront of many people’s minds.
Credit Card Debt
Last, but not least, credit card debt is a common form of debt hardship. In fact, it is often related to the above forms of debt as a means of addressing oncoming bills. Studies have shown 70% of Americans saying there is a greater stigma around credit card debt than any other form, ruling out student loans and medical bills alike. If any of the above issues fit your situation closely, consider meeting with a debt management company to put your fears at rest and take action.
Finding Debt Settlement Help
You are not without options in your quest to put a dent in your debt. There are over 4,500 debt collection agencies in the United States working in tandem to provide millions of Americans in similar positions the relief they need. If you’re wondering how to find better payment options for medical bills or want to file for bankruptcy, debt settlement professionals will help you take charge of your debt and address it in a way that suits you best.