In 2013, Forbes magazine placed Forth Worth 15th in the Best Places for Business and Careers. In 2018 Fort Worth ranked 18th on U.S. News & World’s list of 125 Best Places to Live in the US. Many successful American companies, including American Airlines, GM Financial, Pier 1 Imports and Radio Shack, certainly seem to agree with these awards as they’ve chosen Fort Worth for their headquarters.
- Unemployment rate: Fort Worth 4%, TX 4.3%, US 4.4%
- Median household income: Fort Worth $60,336, TX $59,206, US $73,891
- Per capita income: Fort Worth $28,174, TX $29,525, US $32,397
The median household income is the average annual income of every earner over the age of 15 in the home. The per capita income refers to the average income of an individual. “Median” or “average” denotes the mid-range meaning there are an equal number of individuals or households with incomes above and below this figure.
For unemployment rates and household income, Fort Worth does better than the rest of Texas and the US as a whole. For per capita income, the city fares slightly worse than the rest of Texas and the US. Regardless of where your financial statistics land on this chart, you may be dealing with unresolved debt.
No matter the size of your paycheck, you may also have a sizable debt burden.Thousands of your fellow Fort Worthians do. But it doesn’t have to be an insurmountable problem— there are ways to reduce or get of your debt completely. The key is to educate yourself on how to accomplish it.
Freedom Debt Relief has been helping consumers turn their financial lives around for over 15 years. Call 800-910-0065 today and let one of our Certified Debt Consultants explain what your options are.
Available Debt-Relief Options
Do It Yourself
Using various online and offline tools, you determine the exact payments required for each debt and track your progress as you go. The benefits of this method are that there are no additional costs for you, and no impact to your credit. But don’t try this method if you have trouble sticking to a budget or are looking for a way to reduce your debt amount or interest rates.
You meet with a counselor who will review your financial situation and hopefully set up lower interest rates with your creditors. They may also create a debt management plan for you to follow. This method will get you one monthly payment, lower interest rates and fees, and help you avoid calls from collection agencies. The downside: you may be considered a credit risk by lenders, your principal debt stays the same, and you’ll need to close all your credit card accounts.
With this method, you take out one loan to pay off all your debt. Hopefully, this loan will get you a lower interest rate than your debts. With flexible terms and no impact to your credit, you make one predictable monthly payment on the loan until it’s paid off. This debt-relief strategy can also help you keep track of your payments and stay on a budget. However, for debt consolidation loans to make sense, they require you to have good credit.
For this strategy, you want to find a reliable company who specializes in this type of program. With debt settlement or debt negotiation, as it’s also called, you make monthly deposits into a special account. The company negotiates with your creditors to accept less than the debt owed. That amount is then paid to creditors, from the special account, until the debt is resolved. The downside is debt settlement will impact your credit and you may have to field collection calls.
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