Debt Consolidation Loans in Gilbert

August 3, 2022

According to a national ranking of 150 US cities, Gilbert, Arizona boasts the highest median income in the nation, making it the top city for “wallet wellness.” Between 2015 and 2016 the average household income increased 3.83 percent from $82,424 to $85,581. Gilbert males have an average income that is 1.31 times higher than the average income of their female counterparts, which is $45,805.

However, income equality as measured by the Gini index is lower than the national average at 0.477. The homeownership rate in Gilbert is healthy with 71.6 percent of residents owning property and the median property value is $264,000. Gilbert’s economy is boosted by company management, finance, insurance and real estate. But some of the highest paid industries are utilities, mining, oil, and tech services.

Even the number of locals living below the poverty line is lower than the national average. Out of 226,228 residents, 13,949 or 6.17 percent have that status. The largest demographic living in poverty are females aged 25-34, followed by females aged 35-44 and then males of the same age

Despite all the positive figures around incomes and home prices, many consumers in Gilbert are dealing with financial hard times. Those with jobs and those without, both genders, young and old folks struggle with mounting debt. And their stress levels are mounting alongside their debt.

However, there are ways to reverse the trend. If you’re dealing with debt and wondering how to overcome it, take heart. There are multiple effective strategies. The key is to pick the right strategy for your situation. And often that can be one of the hardest parts—figuring out the best way forward for your unique set of circumstances

Freedom Debt Relief has been helping consumers get rid of debt since 2002. Our Certified Debt Consultants can give you a free evaluation after asking you a few simple questions about your financial situation. Call 800-910-0065 now to speak with an expert.


Request a free debt evaluation to find out how we could help you:

  • Resolve your debt faster
  • Significantly reduce what you owe
  • Make one low monthly program payment

Debt Statistics in Gilbert

There are several sensible solutions available to deal with debt. Many consumers look into getting debt consolidation loans, while others land on debt settlement or a debt management plan if their debt burden is more severe. Getting a debt consolidation loan—which is used to pay off all your creditors—makes keeping track of bills and payments significantly easier. It removes the confusion of having to remember multiple payments with multiple due dates. This can help avoid late payments and the related penalties, so your credit score isn’t affected.

In addition, most consolidation loans will come with lower interest rates than the rates on your cards, so you could end up saving money in the long run.

However, while debt consolidation works for many consumers, it’s not always the best strategy

It can work if:

  • You have good-to-great credit

  • You can avoid getting into debt again

  • Your debt is significant and growing

  • You’re paying high interest rates on your cards

Other strategies may work better if:

  • You have poor or bad credit

  • Your credit score’s too low

  • Your debt-to-income ratio’s too high

  • You’re unable to change your spending habits

  • You’re still dealing with a debt-causing situation

Regardless of which approach you choose, you’ve taken a step in the right direction by researching the available options. There’s a solution out there that will fit your situation perfectly. The Certified Debt Consultants at Freedom Debt Relief can walk you through the various options to help you decide if debt consolidation is right for you.

Credit Card Debt

Arizona’s’s average credit card balance was slightly higher than the rest of the country in 2017. Transunion, one of the nation’s three large personal credit rating agencies, reported that at the end of the third quarter average consumer card balance in the state was $5,643 compared to the nationwide average of $5,247.

Mortgage Debt

Homeowners in Gilbert and the rest of Arizona had an average of $225,340 in mortgage debt at the end of the first half of 2017, compared to the national average of $192,749. Mortgage delinquency rates fell in 2017, signifying an improvement in financial health among mortgage holders

Whether you decide on debt consolidation or another solution, you’re on the right path by researching the available options. Our Certified Debt Consultants can answer any questions you have about Freedom Debt Relief programs. Let us get you one step closer to finding the right debt solution for your budget and goals by giving us a call any time at 800-910-0065 .

End Your Debt

Find out how our program could help.

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    One low monthly program deposit
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    Settlements for less than owed
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    Debt could be resolved in 24-48 months

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