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The providers of CareOne Debt Relief Services® understand the challenges of being in debt. CareOne’s founder, Bernie Dancel, was once in debt himself, as were many of our employees. Our mission is to provide practical debt relief solutions to help others free themselves from debt too. In the current tough economy, even the most prudent consumer can find their financial health suffering, and that’s as true of Wisconsin residents as it is of our other customers throughout the country.
Wisconsin consumers carry the lowest average credit card debt in the US, at a little over $5,0001. This is despite the fact that Wisconsin workers have suffered from job losses as evidenced by the high unemployment levels the state has recently experienced. The unemployment rate peaked in summer 2009 at over 9.2%, although the trend has moved in a more positive direction in recent months, decreasing to 6.8% by May 20122, which is below the national US unemployment rate of 8.2 %. Still, unemployment in Wisconsin, as in many other states, may be a contributing factor to increasing foreclosures. RealtyTrac³ data shows 38,657 foreclosed housing units in Wisconsin in May 2012, and the Milwaukee Wisconsin Journal Sentinel4 reported that foreclosure filings against property owners in southeastern Wisconsin increased by 9.6% in the first half of 2012. CareOne’s own research shows that the number of Wisconsin residents seeking debt relief who own their own home is 10% higher than the national average, and increased 15% from 2010 to 2011.
One positive trend is seen in Wisconsin’s per capita personal income, which rose by 4.8% in 2011 compared to the previous year5, putting it slightly ahead of the overall national increase of 4.3%. However, the $40,073 per capita personal income for Wisconsin is still below the national average of $41,663.
The providers of CareOne Debt Relief Services have helped over 5 million people, and our Certified Personal Finance Counselors® are committed to helping Wisconsin residents too. They will guide you through the variety of debt consolidation options available to break the cycle of debt, depending on your individual situation. For a personalized solution to debt relief, contact one of our Counselors and see how we can help you regain control of your debt, and your life.