Texas residents have found a reliable and trusted partner in Money Fit when it comes to receiving personal debt consolidation & support for more than twenty years now. Whether our Texan friends are looking for assistance with credit card debt, or other unsecured debt such as collection accounts, medical bills, payday loan debt consolidation, and more we’re proud to continue showing why we’re not just “All Hat and No Cattle.”
Working with a nonprofit debt consolidation organization, like Money Fit, has benefits.
First, our mission, quite literally, is to help our customers identify means to overcome their debt for good and eliminate the need to seek debt consolidation in the future. This objective rings true for anyone who seeks our assistance, whether they become a client or not.
Second, you will be treated as a friend. Money Fit Credit Counselors have worked with hundreds of thousands of individuals dealing with their own personal financial worries. They know, from years of experience, that no two stories are alike and that each person that contacts us for debt consolidation is unique.
Pandemic Poses Many Unique Financial Challenges for Texans
The pandemic caused by COVID-19 had drastic financial implications for the state of Texas in 2020.
Early in 2020, when COVID-19 lockdowns went into effect, Texas 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 Texas
Money Fit has compiled resources for individuals that have been negatively impacted financially by COVID-19:
Texans Are No Strangers to Debt
In Texas, the average household credit card debt as of 2018 was $7,692. In comparison to other states on the list, that places Texas 21st in terms of states with the highest average credit card debt. In comparison, the state with the lowest average credit card debt was Ohio at $5,446. Essentially, Texan households carry 40 percent more credit card debt than the lowest state on the list.
Above Average Credit Card Debt and Increased Home Ownership and Rental Costs Highlight the Need For Debt Consolidation In Texas
A rising concern in Texas, and across much of the United States is the spectacular rise in home buying and rental costs. Research on Zillow shows sharp increases in costs since the financial recession of 2008, which is understandable given the recovery, though the recent increases may be outpacing the typical household annual earnings and repayment capabilities. An interesting study in the Austin Business Journal shows that even a slight increase in prices would put homes out of reach for many Austin households.
Getting Help With Debt In Texas
Money Fit recommends that residents take precautions and care when seeking services to provide debt consolidation services. Unfortunately, there are many for-profit businesses that have negative track records. If you come across a deal that sounds too good to be true, it’s highly likely that it is.
We understand that dealing with debt can be frustrating and we’ve heard from many individuals that they wish they’d taken the time to research a business they signed up with but didn’t because they wanted the burden of their debt to simply go away.
We advise that you take your time with your research and think about any short-term and long-term implications such as how much will this cost and what damages may be made to important things like your personal credit history and score. Much is on the line, the more questions you ask and the research you do upfront, the more likely you’ll find a resolution to your debt that you’re satisfied with.
Additional Links & Resources
Money Fit by DRS, Inc. is registered and provides Debt Consolidation in the State of Texas. 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. Remember, you are not alone in your goal to live debt-free!
Texas Office of the Consumer Credit Commissioner
2601 N Lamar Blvd
Austin, TX 78705
Registration Number: DM06-10018