Debt Consolidation For Mississippi Residents

While Mississippi may currently top the list of states with high delinquency ratios regarding their debt, there is plenty of hope and opportunity available for financially impacted residents to improve their situation.

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

There are many great 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 much more. We spend hundreds of hours every 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 able to assist.

Our goal is 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 highly skilled and trained 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 the best-personalized care.

Pandemic Poses Many Unique Financial Challenges for Mississippians

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

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

September 2019 – August 2020 – Data From bls.gov

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

Mississippi Statistics That Display the Need for Debt Consolidation

The average household credit card debt in Mississippi in 2018 was $6,673. To put it in perspective, in comparison to the other states on the list, Mississippi ranks 29th when it comes to average household credit card debt. Credit card debt, unless paid in full each month, can be expensive, and take years to repay.

Delinquency Rates are the Highest in Mississippi

When a debt isn’t paid on time, it can become much more expensive, especially once the late or over-the-limit fees are tacked on. Then, especially in regard to credit cards, after a payment is missed, the lender may raise the APR rates. None of this bodes well for the consumer as it makes an already difficult situation that much harder to deal with.

8.4% of all credit card payments are delinquent in Mississippi which places the state (when reviewing the delinquency index of various loan products) in the worst position in the country and highlights the needs that many Mississippi residents have when it comes to dealing with their debt.

Getting Help With Debt in Mississippi

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.

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We provide debt consolidation to all Mississippi 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

Mississippi Debt Consolidation

Debt
Consolidation

Consolidate your debt into a more affordable monthly payment.

Mississippi Debt Consolidation

Credit Report
Review

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

Mississippi Debt Consolidation

Debt
Management

We work with your creditors to reduce payments and fees.

Mississippi Debt Consolidation

Payday
Loan

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

Mississippi Debt Consolidation

Budget
Calculators

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

Mississippi Debt Consolidation

Money Fit
Academy

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

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