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Working to become debt-free is not easy, but it can be done. How do we know? Because many of the providers of CareOne Debt Relief Services® have been there. There is a better way out of debt and we want to help you find it. We’ve helped 5 million people all across the country, we can help you too!
It’s no secret that Nevada’s economy has been hit hard in the recent economic downturn. For example, Nevada’s unemployment rate, foreclosures, underwater mortgages, and bankruptcies have out-paced the nation1:
• Unemployment is two percentage points higher than the national average
• 1 in 16 housing units are in foreclosure as compared to 1 in 69 for the rest of the nation
• 58% of all mortgages are “under water”
• 1 in 345 adults is in bankruptcy as compared to 1 in 580 for the rest of the nation2.
Unemployment, which topped out at 14.9% in December of 2010 has dropped off since then, but is still significantly higher than the national average due to the collapse of the once booming construction industry3. Compounding the problem, the national economic down turn has caused less people to visit Nevada for tourism and gambling, causing a loss of even more jobs. Since Nevada’s economy relies heavily on out-of-state visitors, it is uniquely tied to the national economy and until there is a sustainable improvement in the national economy, the local economy may continue to remain sluggish.
Because Nevada seems to have been hit harder during the recent recession than many other states, it’s not surprising that we’ve seen the average amount of debt carried by Nevada residents seeking debt relief increase 103% from 2010 to 2011, a figure that was 127% over our national average. Many people try to ride out the economic downturn by relying on credit cards to cover day-to-day expenses, but some may find that they cannot keep up and may seek help through debt consolidation. In fact, according to our internal data, the average number of individual debts carried by Nevada residents seeking debt relief increased 94% from 2010 to 201. Likewise, the average amount of debt they carried increased by a whopping 103% during that same time and was 127% over our national average4.
If you are experiencing difficulty with unsecured debts and are looking for relief, call one of our Certified Personal Finance Counselors® today. We’ll review your unique situation, provide a free debt analysis and present a customized action plan to help you get back on track.
View our article about debt in Las Vegas for more information on debt in Nevada.