Debt Consolidation For Maine Residents

Even if you’re drowning in debt, a debt management program can be a lighthouse for financial freedom. Remember, the path to financial freedom isn’t easy but it is well worth it!

Maine Debt Consolidation
Home Page - Quote
Privacy Checkbox

Money Fit has proudly helped Maine residents find debt consolidation, especially when it comes to paying off their credit card and other unsecured debt, for more than twenty years now. We’re proud to have built wonderful relationships with individuals and organizations over that period of time.

There are many benefits to getting help with debt from a nonprofit debt consolidation service, such as Money Fit.

We’re not a typical debt consolidation organization, in fact, we’re so much more. We spend hundreds of hours each year teaching people of all ages about the perils of being in debt and how they can build a solid financial foundation. We take a proactive approach to finances, however, if there are current financial issues, we’re ready and willing to assist.

It’s our goal to help prevent financial discourse through education, which to some businesses could seem counter-intuitive, however, it’s our mission that “Everything Revolves Around Education.” Our belief is that the healthier the personal finances are within our community, the better everyone’s quality of life can be.

Money Fit Credit Counselors are well-versed in personal finance and qualified to help. They’ll treat you with care, compassion, and understanding. You will be treated as an individual. We know that your situation is unique and when you seek debt consolidation from Money Fit, you’ll receive personalized care.

Pandemic Poses Many Unique Financial Challenges for Maine Residents

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

Early in 2020, when COVID-19 lockdowns went into effect, Maine 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.

COVID-19 Impact on Unemployment Rate in Maine

September 2019 – August 2020 – Data From stlouisfed.org

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

Maine Statistics That Display The Need For Debt Consolidation

The average household credit card debt in Maine in 2018 was $5,803. To put it in perspective, in comparison to the other states on the list, Maine ranks 49th when it comes to average household credit card debt. That’s pretty good! But credit card debt, unless paid in full each month, can be expensive, and take years to repay.

Maine Residents Carry Near The Same Amount Of Credit Card Debt As The National Average

The average US household carries $6,829 in credit card debt. Maine residents are below that mark, but they still owe way too much in credit card debt. The balances owed everywhere are too high, especially when you determine the costs associated with paying off debt over a lengthy time.

When it comes to student loans in default, or delinquent automobile & medical debt, Maine shows a growing need for personal debt consolidation.

Getting Help With Debt In Maine

Money Fit recommends that residents take a cautious approach when seeking debt consolidation services. Unfortunately, there are several for-profit businesses that have poor track records. If you find a deal that appears too good to be true, it’s likely that it is.

We know that dealing with debt can be tiring and frustrating. We’ve heard from several individuals that they wish they’d first researched a business that they signed up with, however, they were quick to shed the burden of debt and in some cases, their situation ended up worse.

We recommend that you take time with your research and reflect on the short-term and long-term implications such as the total costs to you as well as what, if any, damages may be made to important items such as your personal credit history and score. There is much is on the line, being up-front and asking questions, and doing research will greatly improve the chances that you’ll find a resolution to your debt that satisfies your needs.

Sources:

Additional Links & Resources

More Information:

We provide debt consolidation to all Maine residents. If you’re from one of the cities listed above you can read detailed information as to the statistics behind why debt consolidation is needed by many individuals in your area. Just remember, you are not alone in your goal to live debt-free!

Additional Resources

Maine Debt Consolidation

Debt
Consolidation

Consolidate your debt into a more affordable monthly payment.

Maine Debt Consolidation

Credit Report
Review

Receive free, unbiased, factual advice from an award-winning non-profit organization!

Maine Debt Consolidation

Debt
Management

We work with your creditors to reduce payments and fees.

Maine Debt Consolidation

Payday
Loan

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

Maine Debt Consolidation

Budget
Calculators

Our free budget calculators will help you track where your money is going and get you ahead with your finances.

Maine Debt Consolidation

Money Fit
Academy

Courses and other resources to provide you with a financial toolbox.

Scroll to Top