Debt affects the majority of American households. American consumers owe an estimated $11.13 trillion in debt, and the numbers continue to rise. According to a CBS news report, American debt rises by a whopping %75 million dollars each hour. In fact, the average American household carries $117,951 in debt according to Statistic Brain. However, credit cards account for just 5.5% of total household debt. However, all debt is not created equal. It’s estimated that nearly 41% of Americans in the workforce are currently paying off medical debt. College degrees also come with a hefty price tag, as the average college graduate owes an estimated $31,509 in student loan debt. There are, however, tools and resources such as debt management services and other debt solutions than can help with debt and therefore allow you to move forward.
Dealing with debt can seem overwhelming at times, and you may be wondering where to get financial advice. Debt management services can offer you the best financial advice in addition to debt counselling to suite your specific financial needs. Debt management services specialize in finding solutions based on your unique situation, as programs vary depending on the type of debt you have. Research companies that offer flexible debt management services, and that can also offer financial planning advice, especially financial advice for college students if that applies to you. It’s important to remember that just as there was a way getting into debt, there is also a way out.
Good refereneces: www.thedebtmanagementgroup.com