Debt Consolidation Services Available in OhioAugust 16, 2022
Ohio is ranked second in the US for best business climate and leads the nation in the green economy, which means promoting sustainable development while protecting the environment. But of course, it doesn’t tell the whole story since 14.6% of the population is below the poverty line.
Based on Freedom Debt Relief’s June 2022 Credit Card Utilization Data, the average credit card utilization of people looking for debt relief in Ohio is 71%. By comparison, per Experian, the average credit card utilization in the US in 2021 was 25%. High credit card utilization, in general, implies a greater likelihood of needing debt relief services.
Save Money and Simplify Your Payments with a Debt Consolidation Loan
It can be tough to come up with disposable income after paying essential living expenses to make even minimum payments on credit cards. And then on top of finding the funds, you have to keep track of multiple due dates to avoid late fees. If this describes your situation, one strategy to consider is a debt consolidation loan. Use the loan to pay off all your creditors, and you only have to make a single monthly payment to the lender.
One payment will be more convenient, but you need to consider how much it will cost you overall. Debt consolidation and personal loans may require a lower monthly payment, but you could end up paying higher interest rates over the course of the loan.
To be successful using this debt-clearing method, you need to:
Commit to making the payments on time and in full each month.
Change the habits that got you into debt in the first place.
If you keep using the cards without paying off the balance each month, you’ll simply end up with one additional creditor on your list.
Get in touch with Freedom Debt Relief now. Call 800-910-0065 for a free, no-obligation debt consultation.
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
People all over Ohio struggle with debt every day. Take a look at some of the state-wide debt statistics:
Per capita income: $34,874
Median household income: $52,334
Below the poverty line: 14.6% of the population
Mortgage debt: average of $125,359
Consumer card balance: average of $4,933
Ohio’s statute of limitations is six years regardless of the type of debt. The countdown begins from when the debt first became overdue or when a you made your last payment—whichever was the more recent. After six years, the creditor can no longer sue you to collect the debt.
This is one way to deal with your debt situation, but probably not the most proactive method. Six years can be a long time when you’re fielding calls from collection agencies. Better to take charge and feel empowered by selecting a more effective way to get rid of your debt.
Start by looking into the various methods of getting out of debt. Freedom Debt Relief is here to help you weigh the options. Contact one of our Certified Debt Consultants today at 800-910-0065 to see how debt consolidation compares to the other solutions so you can determine which is best for you.