Debt Relief For New York Residents

New York residents 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.

Compared to the national average, the typical cost of living in New York is nearly 30% more than in other states. In particular, housing costs are much higher in the Empire State. Given these added costs, New Yorkers must spend more money to purchase housing, transportation, and many services available more affordably elsewhere.

The good news is that New York ranks sixths in wages among states at more than $20 per hour on average. Obviously, not all towns and cities provide such high wages. While residents in upstate New York and those in the western towns and cities generally realize lower wages, New Yorkers, in general, do quite well compared to the rest of the country.

Credit Card Debt Consolidation is a Pressing Need for New Yorkers in 2022

In New York, the average cardholder’s credit card debt as of 2022 was $6,973. 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 New York 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 New Yorkers escape the vicious borrowing cycle that occurs when trapped in payday loans or other unsecured installment loans.

Getting Help With Debt in New York

While housing costs in the New York metropolitan area post a particularly strong financial challenge to household stability, housing costs in upstate and the western regions easily range from on par with or well below national averages. For those in the five New York City Boroughs, Mayor Bill de Blasio’s 2014 Housing New York plan is striving to address the high cost of housing in the city. While the plan has a long way to go, there are notable steps being made to help median income households afford to house closer to their places of work.

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 we determine together you would benefit from participating in a debt consolidation program, we keep our capped fees within state-regulated guidelines.

Money Fit advises individuals to take precautions when choosing whom to work within 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 New Yorkers

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

Early in 2020, when COVID-19 lockdowns went into effect, New York 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:

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More Information:

We provide debt relief to all New York 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. Just remember, you are not alone in your goal to live debt-free!

Additional Resources

New York Debt Relief

Debt
Consolidation

Consolidate your debt into a more affordable monthly payment.

New York Debt Relief

Credit Report
Review

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

New York Debt Relief

Debt
Management

We work with your creditors to reduce payments and fees.

New York Debt Relief

Payday
Loan

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

New York Debt Relief

Budget
Calculators

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

New York Debt Relief

Money Fit
Academy

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

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