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Like many states in the nation, Nebraska suffered its share of economic hardships during the “Great Recession”. The providers of CareOne Debt Relief Services® hear from Nebraska residents every day, and we know that many people are still working hard to put themselves back on the right financial track in spite of economic factors beyond their control.
For example, a recent report issued by the Nebraska Business Forecast Council states that the state economy will grow modestly over the next two years due to severe drought and the rise in value of the U.S. dollar. Because of the state’s dependency on agricultural exports, these two factors will have a significant impact on job growth and farm incomes1. The report indicates that despite the fact that farm incomes rose to $5.4 billion in 2011, they are predicted to decrease to $3.5 billion in 2012, then rise again in 2013, although to $4.1 billion rather than recovering fully back to 2011 rates.
However it’s not all bad news for the residents of the “Cornhusker State”. For example, despite the fact that job growth may be slow in the next few years, currently Nebraska enjoys one of the lowest unemployment rates in the country, just 3.8% as compared with the average national unemployment rate of 8.2%2. In addition, from 2010 to 2011 the average Nebraskan reduced his or her overall credit card debt by 12%3. Our own internal data shows that the average amount of debt reported by Nebraskans seeking debt relief decreased 10% from 2010 to 2011 and was 10% lower than our national average. Also, homeownership in Nebraska is two percentage points higher than the national average4, and the state foreclosure rate is relatively low5.
We understand that while these recent statistics show the potential for recovery, not every Nebraska resident may be out of the financial woods. If you’re a Nebraskan struggling with debt, and interested in learning more about debt consolidation, we encourage you to call us today. Many of the providers of CareOne Debt Relief Services have been in debt too, including our founder, Bernie Dancel. We got out, and we know what it takes to help get you out of debt. Our Certified Personal Finance Counselors® will review your situation, provide a free analysis and walk you through the options available to you; helping you to find a customized action plan that will help you get you back on track towards a healthy financial future.