There are many benefits to getting help with debt from a nonprofit debt relief service, such as Money Fit.
We’re not a typical debt relief organization, in fact, we’re 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.
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 relief from Money Fit, you’ll receive personalized care.
Credit Card Debt Consolidation is a Pressing Need for Massachusetts Residents in 2022
In Massachusetts, the average cardholder’s credit card debt as of 2022 was $6,942. 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 Massachusetts Residents 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 Massachusetts residents escape the vicious borrowing cycle that occurs when trapped in payday loans or other unsecured installment loans.
Getting Help With Debt In Massachusetts
Money Fit will always be available to help. That said, the best time to prepare for a troubled economy is before it happens. Money Fit helps with debt management, financial education, student loan repayment plan counseling and application services, and even bankruptcy-related certificates of counseling and education.
While excessive consumer debt can be cause for concern, Money Fit suggests our Bay Stater friends be careful when choosing a debt relief organization. Many agencies calling themselves debt relief or debt counseling are actually debt settlement services that promise to get their clients out of 50% of what they owe, assuming they have $10,000 or more of debt. We have, unfortunately, seen many consumers lose six months to two years’ worth of payments to such companies set up to defraud their clients of money in highly stressful situations. When choosing an organization to trust with your money, check out their reputation with the Better Business Bureau, your state’s attorney general office, and make sure they belong to a reputable industry trade group.
Finally, always get the promised services in writing (whether by mail or email), and be sure to understand what is required of you for program success. Know your rights, and ask around for referrals and recommendations. Before signing any agreement or contract, confirm that the agency is registered with Massachusetts’s Secretary of the Commonwealth and with the state’s attorney general’s office, just as Money Fit by DRS and its parent company, Debt Reduction Services, Inc. have done.
A Pandemic That Posed Many Unique Financial Challenges for Massachusetts Residents
The pandemic caused by COVID-19 had drastic financial implications for the state of Massachusetts, beginning in 2020.
Early in 2020, when COVID-19 lockdowns went into effect, Massachusetts 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:
Additional Links & Resources:
We provide debt relief to all Massachusetts Residents. If you’re from one of the cities listed above you can read detailed information as to the statistics behind why debt relief is needed by many individuals in your area. Remember, you are not alone in your goal to live debt-free!