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The providers of CareOne Debt Relief Services®; understand what it’s like to be in debt. Our founder, Bernie Dancel, was once in debt himself, and knows how easy it is for good people to find themselves struggling with debt, especially in today’s challenging economy. Talking with our customers we hear about the financial challenges they face, and we know that even in New Mexico – the Land of Enchantment – many are working hard to make ends meet.
New Mexico’s population is approximately two million, with the densest cluster of residents in the Albuquerque metropolitan statistical area – just shy of 900,000 people1. In 2010, 20.4% of New Mexicans lived below poverty level2, compared to the national average of 15.3%., and the state of New Mexico had the second highest percentage of residents, after Texas, without health insurance coverage3, at 21.6%.
New Mexico’s per capita personal income (PCPI) in 2011 was $34,575, just 17% lower than the national average4, ranking New Mexico 43rd out of all 50 states for PCPI. Although personal income increased 3.7% from 2010 to 2011, that boost was still lower than the national growth rate of 4.3% during that same time period.
Residents of New Mexico also saw a rise in home foreclosure activity5 in the first six months of 2012. Although the increase was only 1% higher than 2011 numbers, the increase is in stark contrast to the national trend, which saw home foreclosures drop by an average of 11%.
We see in our own research that New Mexico homeowners and families are struggling to balance their budgets. New Mexico residents seeking debt relief who claim one or more dependants increased by 81% between 2010 and 2011, and the number of homeowners seeking debt relief increased 6%, a figure that’s 9.5% higher than the national average.
CareOne Debt Relief Services is the nation’s largest brand of debt relief. We’ve helped over 5 million people and counting, and we can help you too. Whether you’re a resident of New Mexico or elsewhere and think debt consolidation might be an option for you, call one of our Certified Personal Finance Counselors®. They’ll provide a free debt analysis and advise you on the available options according to your personal circumstances. Working together, you can choose the debt relief action plan that works best for you and your budget.