Along with mile upon mile of the sunny, sandy beaches that hug the state on both sides, Florida does well on the economic front too. The Sunshine State boasts the fourth-largest economy in the United States with a Gross Domestic Product (GDP) of $926 billion in 2016. The major contributors to this growth are general services, financial services, trade, transportation and public utilities, manufacturing and construction.
Adding to this abundance, Florida is one of seven states where its residents don’t have to pay income tax. But just because the state’s main industries are profitable, and its residents don’t have to pay income tax, doesn’t mean that everyone is prospering. In 2017, an estimated 374,000 Floridians were unemployed out of a workforce of 10.1 million people. Hurricane Irma wreaked havoc on the number of jobless Floridians too as an additional 127,000 jobs were lost after she struck.
If you’re dealing with debt and need help, it is available. If you find a reputable company, you’ll be able to check out the various options and choose the right path forward for your level of debt and financial situation.
Becoming Debt Free in Florida
It’s time to take action against your debt. There are a variety of paths that can lead you to financial freedom, including debt consolidation.
It might not be right for you, but debt consolidation in Florida could be worth investigating. Debt consolidation may simplify the debt repayment process. If you can secure a loan at a reasonable interest rate, you could make debt resolution less stressful. Most consolidation loans require collateral—a high-value asset such as a home or a car—that you need to put up to receive the loan.
A secured loan is a bit of a double-edged sword: on the one hand, it can help you get a lower interest rate, which means you pay less over time. On the other hand, if you do fall behind or can’t make your payments, you’re in danger of losing your leveraged asset. That means your house could be foreclosed on or your car seized.
The other option is to get an unsecured loan. These may be harder to come by and usually carry much higher interest rates because the lending company doesn’t have any guarantee that you’ll repay the entire loan. An unsecured loan could help simplify your repayment process, but it could also lead to a greater amount of debt in the long run.
Whether it’s debt consolidation or one of the other ways to become debt free, Florida residents have options. Don’t wait any longer. It’s time to take care of your debt and live a life of freedom. Get started now. The Certified Debt Consultants at Freedom Debt Relief can help you find the right solution for your unique situation Call 800-910-0065 now.
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
People all over the Sunshine State are struggling with debt. When it comes to credit card debt, Florida has four cities out of the top 25 US cities with the most debt. The state also has the second-highest credit card delinquency rate, with 1.45 percent of Florida cardholders being more than 90 days delinquent on one or more cards.
A debt consolidation loan may be the perfect solution for you if you owe more than $10,000 and you have decent credit. But it will only make sense if the interest rate offered is lower than what you’re currently paying on your cards.
Speak with a Freedom Debt Relief Certified Debt Consultant today to see what debt-clearing route would work best for you. Call 800-910-0065 now for a free consultation and learn about debt consolidation loans and other solutions. The Statute of Limitations on credit card debt in Florida is four years. But why wait that long and have to deal with calls from lenders? Find out more information about debt options in your city: