Debt Relief For California Residents

Californians have relied on Money Fit debt relief services for over twenty years to help with credit card debt and other unsecured debt such as collection accounts, payday loans, medical bills, and more.

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As a nonprofit, the Money Fit program provides free credit counseling that aims to find solutions to help individuals dealing with the drain of burdensome debt.

In comparison to other states, the value of a dollar is $0.88, meaning that due to higher consumer costs it takes more money on average to purchase the same goods in areas where the value is higher.While California has taken measures to address increasing wages overall, the state sits right near the middle of the pack with personal income at $44,173.

Housing is another concern, while home values are higher in California it means they are considerably higher than other states, creating a potential financial difficulty for new home buyers.

Credit Card Debt Consolidation is a Pressing Need for Californians in 2022

In California, the average cardholder’s credit card debt as of 2022 was $6,729. That number looks to rise in a post-pandemic world, as consumer spending begins to roar back. The key concern is the reliance on credit cards is increasing while inflation and other economic crisis such as high-energy costs and global instability appear to be cemented in for 2022 due in large part to the Russian invasion of Ukraine.

Consumers that can manage their debt by slowing or stopping their credit card use, and focusing on paying it off, could find themselves in a considerably better financial picture than those who don’t. Especially if any other market disturbances arise. A credit card debt consolidation program, such as the program offered by Money Fit, can help speed up the repayment process.

Payday Loan Consolidation Gives Californians a Fresh-Start

Payday loans & other short-term loans can help get consumers out of an immediate bind. However, recent trends show that many consumers find themselves relying on taking out one loan, to pay another loan, and continuing this expensive cycle until they either exhaust their budget or are forced into finding alternate means of resolving their loans.

Thankfully, Money Fit specializes in payday loan consolidation and helping Californians escape the vicious borrowing cycle that occurs when trapped in payday loans or other unsecured installment loans.

Getting Help With Debt in California

While the deck may appear to be a bit stacked against consumers in California, the state does have a large number of resources set aside for those that are in need of immediate help.

As a non-profit organization, our mission is to help any consumer looking to improve their financial situation through quality debt relief and credit counseling services. There is no fee for our one-on-one credit counseling sessions, and if we determine together you would benefit from participating in a debt consolidation program, we keep our fees within state-regulated guidelines.

Money Fit advises individuals to take precautions when choosing who to work with when repaying their debt. If a deal offered to you sounds too good to be true, it most likely is. Also, consider the impact of working with organizations that claim to settle your debt for less than you owe. How much will it cost you in cash out-of-pocket, and how will it affect your credit score? The power of a good credit score should not be underestimated.

A Pandemic That Posed Many Unique Financial Challenges for Californians

The pandemic caused by COVID-19 had drastic financial implications for the state of California, beginning in 2020.

Early in 2020, when COVID-19 lockdowns went into effect, California saw a large spike in unemployment insurance claims, and while the long-term economic impact isn’t fully known, it will certainly have a lasting impact.

While the pandemic isn’t over, jobs and employment have made a drastic comeback as the US and world move towards the endemic stages of dealing with the virus.

Money Fit has compiled resources for individuals that have been negatively impacted financially by COVID-19:

Source: Cost Of Living & Dollar Value in Every State

Additional Links & Resources:

More Information:

California State Registration Information:

California Secretary of State
1500 11th St.
Sacramento, CA 95814

Registration Number: 247-0001

 

Additional Resources

California Debt Relief

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We work with your creditors to reduce payments and fees.

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Get help with your payday loans and break the borrowing cycle!

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