If you are are like many American consumers, you are carrying some form of debt. Whether it’s student loan debt, medical bills, or credit card debt, the majority of Americans have it. As a result, Americans are seeking debt help in an effort to regain control of their finances and attain financial freedom.
Here are the top 3 reasons why American consumers are seeking help with debt:
Layoffs or difficulty finding work
Following the economic crash of 2007, thousands of Americans suffered the devastating effects of layoffs and soon found themselves falling into debt. Additionally, the entire job market soon followed suite, and America experienced record unemployment rates. As a result, debt relief services became an increasingly popular method of managing debt.
Divorce or separation
Divorce is more common than ever before, with first marriages in the United States lasting an average of 8 years. Though couples divorce or separate for a number of reasons, issues relating to finances are a common cause for divorce. Courts may order one party to pay back a larger portion of marital debt or pay spousal support.
Illness
Perhaps one of the most common causes for seeking out debt relief services is debt as a result of illness. Prior to healthcare reform, many Americans simply could not afford medical insurance, even if they were employed. Seemingly routine doctor visits, such as treatment for the common cold, could cost hundreds out of pocket, not to mention emergency room visits. As a result, more and more Americans started exploring debt solutions to help them manage their finances.
Regardless of the nature of your debt, you can feel confident that debt relief services can help you to reach your financial goals, and give you the tools and resources you need in order to make and more informed financial decisions in the future. Check out this site for more: www.thedebtmanagementgroup.com
