Between tempting offers from creditors and a tough economic climate with scare high paying jobs, many American are finding themselves in debt. For those in debt, attaining financial independence and freedom from debt may seem like a daunting, if not impossible task. Statistics show that the burden of debt continues to rise. According to a recent CBS news report, American debt increases by $75 million dollars each hour. Additionally, a 2013 study by the Federal Reserve indicates the average amount of credit card debt owed per household in the United States is $15,159, whereas the total amount of combined household debt averages at approximately %117,951. In total, American consumers are a staggering $11.13 trillion in debt. However, help with debt is readily available. Many are now turning to debt relief companies in search of debt relief options and debt management advice.
In addition to giving excellent debt management advice, debt management companies carefully assess their clients’ unique financial situations in order to develop a customized debt management solution. Unfortunately, many Americans wrongfully assume they must file for bankruptcy and suffer poor credit for many years as a result, in order free themselves from debt. However, there are a variety of different debt relief programs available, including settlement, consolidation, or affordable repayment plans.
An important part of getting out of debt is staying out of debt. Debt management advice gives people the tools and resources they need in order to make better, more informed financial decisions in the future. It’s important to remember that just as there was a way into debt, there is a way out. See more.
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