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United Settlement » Debt Settlement » Debt Relief In America
admin April 10, 2018

Debt Relief In America

Consumer debt runs rampant in America, and though it does provide necessary fuel to the American economy, it also leads many individuals down the road toward financial difficulty. Debt is one of the leading contributors to divorce in America and forces many Americans to live from paycheck to paycheck.

Sometimes a consumer falls prey to overspending and gets blindsided by an exogenous event – such as a job loss or medical emergency. There are many ways that excessive consumer debt can lead to financial hardship that often lasts years and alters life trajectories. But, debt does not have to define your financial livelihood. There are numerous forms of debt relief in America that are suitable for different debt circumstances.

AL AK AZ AR CA CO CT DE FL GA HI ID IL IN IA KS KY LA ME MD MA MI MN MS MO MT NE NV NH NJ NM NY NC ND OH OK OR PA RI SC SD TN TX UT VT VA WA WV WI WY DC

Two Primary Categories of Debt

There are two primary categories into which debt can be divided – unsecured debt and secured debt. With unsecured debt, the amount borrowed is not backed by collateral that can potentially be seized in the event of non-payment by the debtor. The most common forms of unsecured debt are credit card debt, medical bills, student loans and personal/installment loans.

In contrast, secured debt is backed by collateral that can be seized and sold by the creditor in the event of non-payment by the borrower. The most common forms of secured debt are home mortgages, home equity loans, and auto loans. Because secured debt is backed by collateral, creditors will often loan larger amounts at lower interest rates and more favorable terms than are offered in situations involving unsecured debt.

National Household Debt Statistics at Year-end 2017

Economists and statisticians compile data related to the various forms of unsecured and secured debt on a national (and statewide) basis to generate an overall sense of the economy and economic well-being of the American consumer. According to the Federal Reserve Bank of New York, at the end of 2017, total household debt in the United States had increased $193 billion sequentially, an increase of 1.5%, to a record $13.15 trillion. Source

This marked the 14th consecutive quarter of sequential increases while placing aggregate household debt 17.9% above the recent low set in Q2 2013. The record level was led by substantial growth in mortgage balances, the largest component of household debt, which now stand at $8.88 trillion, an increase of $139 billion from Q3 2017. Meantime, credit card debt increased by $26 billion, a 3.2% sequential increase, to $834 billion. Auto loans grew by $8 billion and now total $1.22 trillion nationwide, with 4.1% of auto loan balances delinquent at year-end. Finally, aggregate student loan debt now stands at $1.38 trillion, with 11% of that figure showing as delinquent or in default.

Debt Relief In America By States

A-I

  • Alabama Debt Settlement
  • Arizona Debt Settlement
  • Arkansas Debt Settlement
  • California Debt Settlement
  • Colorado Debt Settlement
  • Delaware Debt Settlement
  • Florida Debt Settlement
  • Georgia Debt Settlement
  • Idaho Debt Settlement
  • Illinois Debt Settlement
  • Indiana Debt Settlement
  • Iowa Debt Settlement

K-P

  • Kentucky Debt Settlement
  • Louisiana Debt Settlement
  • Michigan Debt Settlement
  • Mississippi Debt Settlement
  • Missouri Debt Settlement
  • Montana Debt Settlement
  • Nevada Debt Settlement
  • New Jersey Debt Relief
  • New Mexico Debt Settlement
  • New York Debt Relief
  • North Dakota Debt Settlement
  • Ohio Debt Settlement
  • Oklahoma Debt Settlement
  • Pennsylvania Debt Settlement

R-Z

  • Rhode Island Debt Settlement
  • South Carolina Debt Settlement
  • South Dakota Debt Settlement
  • Tennessee Debt Settlement
  • Texas Debt Settlement
  • Utah Debt Settlement
  • Virginia Debt Settlement
  • Washington Debt Settlement
  • Wisconsin Debt Settlement
  • Wyoming Debt Settlement

If you do not see your state above we may still be able to help you. United Debt Settlement works in most states. See if you qualify by applying for debt relief in America.

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March 14

That when it seems like nobody can help United will.

This was a great experience for me. I am just starting but Madelene Gallon made me feel like we were friends for years. She tried to make me feel that she would help me and make sure I got the best deal...

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March 01

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Kiirstin

March 01

Kind and caring

Had been searching for a while for a company I could trust to get me out of crippling debt. Really didn’t think it was possible. Spoke to Ben at United Debt and he assured me that not only was it possible,...

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February 28

Quick, easy assistance!

I've been working with Ben at United Debt to help me organize and get out of debt for once - I've been dealing with debt for ages and Ben showed me some simple ways to begin dealing with things to keep...

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February 14

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December 21

Great!

Renika went above and beyond today to help me. She is wonderful to work with! Thank you again Renika for all of your help today! Happy Holidays to you!

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December 20

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December 14

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November 23

Do your home eork

Paid several thousand dollars and nothing done. Ended up settling 90%by myself. This is a preatory company. So do your homework. This will never post.

Dm

November 18

Customer service is truly helpful

Renika was so helpful. My account was paid off but I kept receiving notifications. She cleared up the situation.

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November 16

Great Customer Service

Renika did a wonderful job handling my questions and transactions. She is very patient on the phone and took care of my needs accordingly.

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November 03

Very helpful

Renika did a great job in answering all of my questions in a timely manner. She was polite and friendly. Keep her on the payroll.

Anthony Desoto

October 31

What's Important to me is United Settlement Costumer service !

United Settlement Costumer service is Amazing Everyone is Professional . I am so happy choosing them with my card Debt. thank you all for helping me out .

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August 23

That this company has integrity!

A responsive company that keeps it clients up to date and fully informed. I like the fact that I can send them a text and be guaranteed an answer within 24 hrs.

Jerry Bolandis

June 04

Professional and focused on facts and truth not hype. Excellent. We want to know facts.

Great work very professional and great updates. Communication is excellent.

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October 25

trust them

Excellent. Also each time i call there they treat me with respect even though they are probably thinking jerk . You sure have made mess of your life. but they have been taught to smile smile smile. this...

Scott W O'Neill

August 01

Thanks for all your help and negotiations.

Thanks for the update! I have faith in you guys and will continue my payments. Thanks for all your help and negotiations.

Cassandra Robinson

July 30

That A Settlement Was Entered.

I Absolutely Love You All At United Settlements. You All Have Saved My Credit Solutions. I Would Refer Everyone To You Services.

Mildred Yvonne Sherron

July 16

The results of the settlement attempts.

So far, I have found United Settlement more than satisfactory. Very conscientious and very efficient in providing a service in debt settlement. Thank you and all the members of your team who are assisting...

Diana Cardona

July 16

Tough Financial Hard Times During Covid-19

I signed up with United Debt Settlement because of large credit card debts, which had taken a financial toll on my credit. UDS has an outstanding reputation assisting clients like me achieve financial recovery...

Household Debt - The Top Ten States

Please note that the following figures are for ALL households in a given state or region. (For example – Mortgage debt averages include those households with zero mortgage debt, as well) The national average for household debt is $48,800, of which mortgage debt represents $32,940. All figures are culled from quarterly data compiled by the New York Federal Reserve.

1) Though technically not a state, Washington D.C. tops the list with average household debt of $84,380, driven by nationwide leading mortgage debt for all households (including non-mortgage borrowers) of $62,080. These figures are 73% and 88% above the national averages, respectively.

2) Hawaii checks in at #2, with household debt of $71,170, of which 54,680 is mortgage debt. These figures are 46% and 66% above the national averages, respectively. With an average FICO score of 691, Hawaii is the runner-up in that category on this list.

3) California comes next, just below Hawaii, with household debt of $70,100, of which $54,640 is mortgage debt. These figures are 44% and 66% above the national averages, respectively.

4) Checking in next is Maryland, with household debt of $70,010, of which $50,900 is mortgage debt. Maryland also has a higher than average household credit card debt level of $3,780, 22% higher than the nationwide individual state figure of $3,100.

5) Colorado comes next at $68,450, with above-average levels of mortgage debt and credit card debt, at $50,900 and $3,530, respectively.

6) Next comes Virginia, at $65,050, who also show above-average levels of mortgage debt and credit card debt, at $47,370 and $3,760, respectively.

7) Massachusetts places seventh, at $63,070, of which $45,760 is mortgage debt. These figures are 29% and 39% above the national averages, respectively. With an average FICO score of 694, Massachusetts takes top honors in that category on this list.

8) Washington State places eighth, at $62,560, of which $47,110 is mortgage debt. These figures are 28% and 43% above the national averages, respectively.

9) Connecticut places ninth, at $58,860, of which $41,790 is mortgage debt, the second lowest figure on this list. These figures are 21% and 27% above the national averages, while the state’s average household credit card debt of $3,730 is 20% above the national average of $3,100.

10) Alaska completes the Top Ten, with average household debt of $57,850, of which $41,580 represents mortgage debt. These figures are 19% and 26% above the national averages, respectively.

Household Debt Problem? United Settlement Can Help!

At United Settlement, we can help you get your household debt under control. In an initial 30-45 minute phone interview session, one of our experienced debt counselors will ask questions relative to your income, expenses and debts, and discuss solutions specific to your household debt situation. Among the more common solutions available is the Debt Management Plan (DMP), which involves streamlining multiple credit card payments into one simple monthly payment.

Included in the advantages of enrolling in a DMP are lower interest rates and a lower overall monthly payment. However, if you’re already delinquent on some credit card accounts, Debt Settlement may be the better option for you, as it can result in creditors accepting lower balance payoffs. Or, if you have a variety of different creditors beyond unsecured credit card debt, a Debt Consolidation Loan can pay off many of your creditors while also resulting in a lower blended monthly interest rate and payment.

Contact us here at United Settlement 888-574-5454 to discuss these available options and get going toward alleviating your household debt problem.

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    Clients who stay according to debt relief program can realize approximate savings of 50% before fees, or 25% including fees, over 24 to 48 months. All claims are based on enrolled debts. Not all debts are eligible for enrollment. Not all clients complete our program for reasons such as: their ability to save sufficient funds. Estimates based on prior results, which will vary based on specific circumstances. We do not guarantee that your debts will be lowered by a specific amount or percentage or that you will be debt-free within a specific period. We do not assume consumer and/or business debt, provide tax, bankruptcy, accounting, legal or credit repair services/ advice. Our program is not available in all states. Please contact a tax professional to discuss tax consequences of settlement. Please consult with a bankruptcy attorney for more information on bankruptcy. If you have any additional questions please contact us. NMLS ID: 1947026
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