With the state’s rapid development and higher cost of living, it’s easy to understand how many Massachusetts residents struggle with debt. If you’re dealing with debt and want to improve your finances, Accredited Debt Relief might be the debt management choice for you.
Massachusetts Financial Facts
- The average Massachusetts resident has a credit card balance of $7,994 and a median household income of $77,385.
- The median debt-to-income ratio in Massachusetts is 1.231.
- According to a recent CNBC study, Massachusetts is the 4th most expensive US state to live in. Bostonians specifically have some of the highest rent prices in the country, paying close to $3000 for a 950 sq. ft. 2 bedroom apartment.
Why It’s Important To Pay Off Your Debt
Often times, debt starts out small and quickly grows out of control. Unexpected medical bills, home and car repairs, and missed credit card payments can add up rapidly, leaving you with increasing interest and fees, a damaged credit score and calls from collection agencies.
Paying off your debts allows you to leave your stress and uncertainty behind and instead invest in the things that are most important to you.
Massachusetts Debt Consolidation
If you’re trying to get out of debt and avoid bankruptcy alone, it may be hard to know where to start. Accredited Debt Relief is a BBB-accredited company with an A+ rating. We have been providing debt relief services across America, including in the Commonwealth of Massachusetts. Whether you’re in the Cape Cod Bay, Springfield, Worcester, Boston or elsewhere in the Bay State, our team is happy to discuss your debt relief options and help you get your finances back on track. Contact us today for a free consultation.
Chamber of Commerce: https://www.chamberofcommerce.org/credit-card-debt-by-state
Federal Reserve State Level Debt-to-Income Ratio, 1999 - 2018: https://www.federalreserve.gov/releases/z1/dataviz/household_debt/state/map/#year:2018