Kentucky may be most famous for horse racing, bourbon and bluegrass music, but the state’s rich history, stunning caves and beautiful mountains help make it a unique place to live. However, many of Kentucky’s residents are unable to enjoy their home state to the fullest due to financial difficulties, credit card debt and student loans. Debt relief programs are available to help those struggling with their finances, including the services offered by Accredited Debt Relief.
Kentucky Financial Statistics
- The average Kentucky resident has a credit card balance of $7,428 and a median annual household income of $48,375.
- Kentucky’s median debt-to-income ratio is 1.169.
- Although Kentucky is a fairly affordable state to live in, those living in Pikeville, Murray, Richmond, St. Matthews and Versailles have a higher cost of living than other Kentuckians.
I Need Help With Debt - What Are My Options?
It may feel impossible to rise out of debt, but it’s important to remember that there are ways out. If you have already tried getting out of debt on your own with no success, you may want to research these debt relief options to see if they are right for you:
- Debt Consolidation through a loan, balance transfer or debt relief company
- Credit counseling and Debt Management Programs.
- Debt Settlement through a debt relief organization
- Filing for Chapter 7 or Chapter 13 Bankruptcy
If you have overwhelming debt, getting out of it should be your biggest financial priority. Reducing your debts allows you to improve your credit score, pay less in interest, and put your funds to the things that matter most to you.
Kentucky Debt Consolidation
Accredited Debt Relief’s financial relief services are now available throughout Kentucky, including Louisville, Bowling Green, Lexington, Owensboro, Florence and everywhere in between. We have an A+ rating from the Better Business Bureau, and we’re proud accredited members of the American Fair Credit Council. We’re happy to provide you with a free consultation to review your finances and show you how our services can help you meet your goals. Contact us today to learn more.
Chamber of Commerce: https://www.chamberofcommerce.org/credit-card-debt-by-state
Federal Reserve: https://www.federalreserve.gov/releases/z1/dataviz/household_debt/state/map/#year:2018