Debt Consolidation: Dayton Residents Have Options Available

August 3, 2022

Some Dayton, Ohio statistics related to the economy look promising while others don’t look so good. From 2015 to 2016, employment grew at a rate of 2.25% from 54,048 to 55,264 workers. The most common jobs for Dayton residents are in the management, business, science, arts, service and sales sectors. The largest industries are manufacturing, accommodation and food service, healthcare and social assistance. However, the highest paying are utilities, finance and insurance, and company management.

While the median income in Dayton households has grown to $28,745, the average individual wage is still significantly lower than the US as a whole at $55,322. Property values have also seen an increase of 4.54% to an average of $163,500 and home ownership rates have increased as well to 57.4%. However, another statistic that’s higher than other places is the poverty rate. The percentage of Dayton residents considered below the poverty line is 34.5% compared to 14% for the rest of the country.

You may not be below the poverty line or even close to it, but you may still be struggling financially. For many folks, the amount of money coming in each month is less than the amount going out to pay for necessities. And when that happens, credit card use becomes a regular occurrence. And when credit card balances aren’t paid off in full each month, debt starts to mount. Then, if you can only manage the minimum payments, you end up paying compound interest as well, which amplifies your debt.

While the situation may seem dire, you’ll be pleased to know it is solvable. There is a variety of solutions you can employ to reduce your debt. You could research them all on your own and determine which one would be most effective, or you can let the experts guide you. Freedom Debt Relief has been helping consumers become debt free since 2002. Our Certified Debt Consultants will ask you a few questions and give you a free evaluation. Then you simply set the wheels in motion with the plan that fits your needs best. Call 800-910-0065 today and get started.

Debt Consolidation Loans

Many consumers opt for a loan to consolidate their debts. Debt consolidation loans can come from various sources: you could take out a personal loan from a traditional bank, credit union or other lender, use the cash from a home refinance, or look into debt consolidation companies.

To determine your ideal solution, you need to consider the following:
  • The amount of debt you have

  • The kind of debt you have

  • The time frame you hope to resolve the debt in

If you want a simple monthly program, have more than $10,000 in debt, and are willing to prolong your payment period, debt consolidation might be the best option for you. If you’re carrying significant debt, or unable to obtain a loan with decent terms, one of the other solutions may work better.


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

You Are Not Alone

Even with decent credit scores compared to some parts of the US, people all over the state are struggling with debt. Check out some of Ohio’s statistics below:

  • Residents’ average credit card debt is $4,549

  • Average credit card debt is eight percent less than the national average

  • Almost half of all cardholders are more than 90 days late on payments

  • Ranks 42nd in the nation in average credit card debt

  • Average credit score is 705

  • Ranks 23rd in the nation in average credit score

Debt-Relief Solutions

The key to success is finding the solution that suits your financial status best. One method is to simply wait for the Statute of Limitations to expire, which means your creditors lose the ability to file suit against you to try and get the money back. In Dayton and the rest of Ohio, that means you’ll have to wait six years. Why wait passively when you can turn your situation around in less time? Most debt consolidation loans take between two to five years to clear.

Contact Freedom Debt Relief today and learn all about available debt relief options. Our Certified Debt Consultants can help you find your way forward. Call 800-910-0065 for a free debt consultation and start your journey toward financial freedom today.

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