Money Fit has gladly helped Montana 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 great relationships with some amazing individuals and organizations over that period.
There are many benefits to getting help with debt from a nonprofit debt consolidation service, such as Money Fit.
We’re not your common debt consolidation organization, in fact, we’re much more. We spend hundreds of hours each year teaching people of all ages about the trouble that can come from being in debt and how they can avoid it by building 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 view 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, kindness, 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 Montanans
The pandemic caused by COVID-19 had drastic financial implications for the state of Montana in 2020.
Early in 2020, when COVID-19 lockdowns went into effect, Montana 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 Montana
Money Fit has compiled resources for individuals that have been negatively impacted financially by COVID-19:
Montana Statistics that Show the Need for Debt Consolidation
The average household credit card debt in Montana in 2018 was $9,759. To put it in perspective, in comparison to the other states on the list, Montana ranks 5th when it comes to average total household credit card debt. Credit card debt, unless paid in full each month, can be expensive, and take years to repay.
Mortgage Delinquency Rates Caught Up to National Average in Montana
In what could be considered a future indicator of increasing difficulty in paying off consumer debt, it can be noted that Montana residents are at the national average of mortgage delinquency of 90 days or greater, at .08%. While that may seem like a low number, when contrasting neighboring states such as Idaho at .05%, Wyoming at .06% North Dakota at .05%, and South Dakota at .07%, it may be a sign of local economic stress. This indicator could cause Montana residents to reduce their unsecured debt obligations in order to maintain secured debt obligations.
Getting Help With Debt In Montana
Money Fit advises 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.
Additional Links & Resources
We provide debt consolidation to all Montana 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’re not alone in your desire to live debt-free!