The Silver State might be best known as a gambling and tourism hotspot, but many locals aren’t able to enjoy everything Nevada has to offer due to their overwhelming debt. Credit card bills, medical expenses, home repairs and family emergencies can quickly add up, making it feel impossible to pay everything back. If you are struggling to meet your minimum payments, Accredited Debt Relief’s financial solutions may be able to help.
Nevada Financial Statistics
- Nevada have an average credit card balance of $8,250 and a median household income of $58,003.
- Nevada's debt-to-income ratio is 1.665.
- As of November 2019, Nevada’s unemployment rate is 4%.
Why is it Easy to Fall Into Debt?
Extreme debt can be incredibly stressful and discouraging. While some individuals fall into debt due to careless spending habits or a lack of financial literacy, others experience financial hardship due to emergency setbacks. Loss of employment, home repairs, divorce, death and medical emergencies can catch us all off guard emotionally, physically and financially. Planning to pay off your debts can be equally tricky, as interest adds up fast.
Getting out of debt requires time, hard work and dedication, but it is possible. If you find yourself unable to pay off your debts within the next four years and are considering filing for bankruptcy, it’s time to explore all of your debt relief options. Debt settlement and consolidation companies may be able to help you negotiate with your creditors to make your debt more manageable.
Nevada Debt Consolidation and Debt Settlement
Accredited Debt Relief is an A+ rated, BBB accredited debt consolidation company. We are licensed to provide debt relief and financial services throughout Nevada. We proudly provide free consultations to residents of Las Vegas, Reno, Henderson, Sparks and more. Contact our team today to discuss your finances and learn how we can help you on your journey 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
U.S. Bureau of Labor Statistics: https://www.bls.gov/eag/eag.nv.htm