Oregon residents have relied on Money Fit for their debt consolidation needs for over twenty years. Individuals looking for help with their credit card debt, private student loans, or other unsecured debt such as medical bills, collection accounts, or even payday loan consolidation, can depend on Money Fit to provide an exceptional and trusted nonprofit service!
Working with a nonprofit debt consolidation service, like Money Fit, comes with several excellent benefits.
First, because we’re not a typical for-profit debt consolidation company, we have your best interests in mind. Our mission is to not only help you overcome any debt-related issue or shortfall you’re experiencing, but it’s also to provide excellent financial education, at no cost, to help individuals avoid financial issues in the first place.
Therefore, it’s our goal to help individuals prevent financial discourse through education, which to some organizations may seem counter-intuitive, however, it’s our organizational mission that “Everything Revolves Around Education.” Simply put, the healthier the personal finances are among our community members, the better everyone’s overall quality of life will be.
Money Fit Credit Counselors are thoroughly trained and certified to help. They will treat you with compassion and understanding. You’re not alone in your goal to control your finances. Your situation is unique and when you seek debt consolidation from Money Fit, you can rest assured you’ll be listened to and receive effective and confidential care.
Pandemic Poses Many Unique Financial Challenges for Oregonians
The pandemic caused by COVID-19 had drastic financial implications for the state of Oregon in 2020.
Early in 2020, when COVID-19 lockdowns went into effect, Oregon 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 Oregon
Money Fit has compiled resources for individuals that have been negatively impacted financially by COVID-19:
Oregon Statistics that display the need for personal debt consolidation
The average household credit card debt in Oregon as of April 2019, was an astonishing $8,619. In comparison to the other states on the list, Oregon is 10th when it comes to total household credit card debt. Ohio held the lowest household credit card debt with an average of $5,446. This means that Oregon households have 58.2% higher credit card balances than residents of Ohio.
Oregon Home Prices Continue To Rise
Oregon, known for its beautiful coastal views, scenic landscapes that span statewide, and iconic coffee shops may be partly to blame for a steady rise in home prices and rental costs. Research on the real estate website Zillow shows a 4.9% rise in home values over the last year, with rental prices continuing to march forward. (Feb. 2018 to March 2019.)
This is especially noticeable in NW Oregon according to Street Roots News. What’s most interesting about the article is the fact that it isn’t a shortage of available homes, rather it’s the lack of housing within reach of year-round residents. Rental prices have been rising drastically as well and unfortunately, those that have limited income or financial woes are finding it increasingly more difficult to adjust.
While we can’t control the cost of housing in a particular market, we can assist in freeing up an individual’s available financial resources by consolidating debt into one more affordable and manageable payment.
Getting Help With Debt In Oregon
Money Fit recommends that Oregon residents take a cautious approach when seeking debt consolidation services. Unfortunately, there are several for-profit businesses that have poor and inconsistent track records. Keep in mind, if you find a deal that appears too good to be true, it’s most likely that it is.
We know 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 their burden of debt and in some cases, their situation ended up worse.
We absolutely recommend that you take time time to research and reflect on the short-term and long-term implications of who you choose to work with. What are the costs? Will there be a negative impact on your credit score? There is a lot on the line, being up-front and asking questions, and performing research will greatly improve the chance that you’ll find a successful resolution to your financial situation.
Additional Links & Resources:
We provide debt consolidation to all Oregon residents. If you reside in one of the cities listed above you can read additional local information and statistics about why debt consolidation is needed by so many individuals in your area. Remember, you are not alone in your goal to live debt-free!
If you’re an educator in Oregon, be sure to reach out if you’d like Money Fit to provide personal finance education support to your school or university.