Although Missouri has a lower cost of living compared to other states in the US, many of its residents struggle with debt. Whether you’re juggling the costs of Kansas City living, trying to rise above student loan debt in St. Louis, or working towards financial freedom somewhere in between, Accredited Debt Relief’s financial services might be right for you.
Missouri Financial Statistics
- Missouri's debt-to-income ratio is 1.219.
- The average Missourian has a credit card balance of $7,706 and a median annual household income of $53,578.
- According to a recent study, the “Show Me State” is the 4th most affordable US state to live in Kansas City, MO is the most expensive city in the state to call home.
How to Get out of Debt
Paying off debt can be difficult, but it’s possible with dedication and support. The best way to pay off your unsecured debts is to pay more than your minimum monthly payments; if you are struggling with multiple credit card payments or dealing with additional financial burdens, it may be difficult to pay more than what’s due. Taking on another part time job or a side hustle can provide you with the extra cash to make your payments, but additional work hours often aren’t an option if you are also caring for children or if your regular job is too demanding.
If you are struggling with your finances, considering bankruptcy and need additional support, debt relief services may be able to help. Accredited Debt Relief can help get you enrolled into a debt relief program in which debt resolution negotiators can work with creditors on your behalf. In some instances, the negotiators have been able to negotiate outstanding balances to about half of what was owed.
Missouri Debt Consolidation
Accredited Debt Relief provides debt relief options throughout the United States, including Missouri. We have an A+ rating from the BBB, and we are happy to provide free consultations to residents of the St. Louis Metro Area, KCMO, Springfield, Columbia, and everywhere in between. Contact us today and take your first steps towards financial freedom.
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