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Debt Settlement in Massachusetts for Credit Card Debt

If you have credit card debt, you know how debilitating it can be. The stress of high-interest rates and monthly payments can take its toll on your mental health. For many people, it can seem impossible to get out from under high amounts of debt. If you have lost your job due to the Coronavirus pandemic, meeting monthly payments can add an additional layer of unnecessary stress. Fortunately, UmbrellaDEBT Relief offers debt settlement in Massachusetts to those who are struggling with high amounts of credit card debt.

Facts About Credit Card Debt

Regardless of the circumstances that led you to struggle to repay your credit card debt, you should know you are not alone. Below are some facts about debt in Massachusetts.

  • 92% of Massachusetts residents carry credit card[1]
  • The average total amount of credit card debt Massachusetts residents carry is over $6,000.[2]
  • On average, Americans have about $38,000 in all forms of debt with the exception of home mortgages.[3]
  • The average household income in the United States is just over $61,000.[4]
  • 25% of people rely on credit cards to pay for basic necessities.[5]

Considering the high amounts of debt carried by the majority of Americans, it is no surprise that many people struggle to repay credit card debt. Increasing amounts of student loan debt, medical bills, and other financial responsibilities cause many families to rely on credit cards to meet their basic needs; like groceries and clothing. This leaves very little room to make more than the minimum payment on credit card balances and eventually leads to debilitating debt. Additionally, trying to manage significant debt makes it impossible to save any money, meaning a small emergency could potentially become a catastrophic event for many.

How Can Debt Settlement in Massachusetts Help?

While significant amounts of credit card debt can make you feel hopeless, you should know that you have options. You do not have to struggle to make ends meet, or live with the stress caused by debt any longer. UmbrellaDEBT Relief offers help with debt and can assist in getting your life back. Debt settlement is an affordable option and can help people in several different circumstances. You might qualify for debt settlement if:

  • Your accounts have been charged off
  • You have accounts already in collections
  • You are experiencing financial hardship and are going to fall behind soon

At UmbrellaDEBT Relief, our experienced team will evaluate your specific situation and try to determine the best course of action for you. From there, our experienced debt negotiators can contact your creditors and negotiate a lower balance that you can afford. We may be able to reduce debt by as much as half, and most clients are able to settle their accounts in as little as 1-4 years.

If you are ready to get out of debt and on the road to financial freedom, contact UmbrellaDEBT Relief today and find out if debt settlement is the right option for you.

Sources:

[1] https://patch.com/massachusetts/marblehead/study-massachusetts-residents-owe-42-410-average

[2] https://www.thebalance.com/the-average-credit-card-debt-by-state-4582582

[3] https://www.cnbc.com/2018/08/20/how-much-debt-americans-have-at-every-age.html

[4] https://www.census.gov/library/stories/2019/09/us-median-household-income-up-in-2018-from-2017.html

[5] https://www.cnbc.com/2019/05/23/nearly-25-percent-of-americans-are-going-into-debt-trying-to-pay-for-necessities.html

 

Umbrella Debt Relief 1-844-389-6745
200 W. Palmetto Park Road Suite 200 Boca Raton FL 33432