Known for its rich farmlands and as the home of Mount Rushmore and the Crazy Horse Memorial, South Dakota is a beautiful and peaceful place to call home. Unfortunately, many South Dakotans who are burdened with debt are not able to enjoy all that their state has to offer. If you are dealing with a significant amount of debt and you’re unsure of how to get out of it, Accredited Debt Relief may be able to help you on your way to financial freedom.
South Dakota Financial Statistics
- The average South Dakotan has a $7,199 credit card balance and a median annual household income of $56,521.
- South Dakota's debt-to-income ratio is 1.229.
- South Dakotans have a lower cost of living compared to the U.S. average, but those living in Spearfish, Rapid City, Vermillion and Brookings are paying more than their neighbors.
When Should I Get Help With My Debt?
The stigma associated with debt is incredibly strong, and it tends to discourage those struggling to pay all of their bills from speaking up and seeking help. If you have overwhelming debt, it’s important to remember that you aren’t alone, and there are a variety of debt relief options available to help you.
Before getting too carried away, you should attempt to take care of your debts on your own. Are you able to pay your debts off with the help of a strict budget and a payment plan, or are you finding yourself unable to make your monthly minimum payments? Do you have more than $7,500 in unsecured debts, and are you unsure if you can pay them off on your own within the next four years? If you are receiving contacts from debt collectors and are considering filing for bankruptcy, it might be time to explore your debt relief options.
South Dakota Debt Consolidation
Accredited Debt Relief is a BBB-accredited financial services company providing debt relief services to customers throughout the U.S., including South Dakota. We’re committed to providing you with debt relief and savings. Whether you’re based out of Rapid City, Sioux Falls or elsewhere in the Mount Rushmore State, we’re happy to provide you with a free consultation without obligations. Contact us today for more information.
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