Debt……I have debt. Most Americans have debt.
In fact, according to Fox Business, in the United States, the average household has more than $16,000 in credit card debt.
and the NASDAQ said that consumer debt is rising at an alarming rate and when you compile the debt for student loans, credit cars and automobiles, the American household debt seems insurmountable to most people.
The economy has improved since the recession hit 10 years ago, but the average family has yet to feel the positive implications of the economy as a whole rebounding. And many would say that debt is actually enslaving many American households.
So what has contributed to this staggering problem? When the recession hit 10 years ago the average median income family saw their debt increase as their houses lost value and many jobs went away. In order to get by until things improved, personal loans and credit cards became the norm for making ends meet. With high interest rates, many families were only able to make the minimum required payments, which actually hurt them more, as they were unable to get out from under the debt they were accumulating just to keep their families fed and a roof over their heads.
This has happened so often that many companies have offered to help with debt consolidation. This can help families find a way to put all of their debt together and make one payment to one company as opposed to many payments to many companies. Oftentimes consolidating your debt can also reduce the amount of interest owed.
One company offering help with debt is Nationwide. Nationwide Debt Direct works with consumers like you to develop and execute a professional strategy with the goal of satisfying and eliminating all of your unsecured financial obligations. You can find out more at this website. Nationwide Debt Direct.
In fact, Nationwide is taking it a step further to help families and is offering a scholarship. To quote their website: “The Nationwide Debt Direct scholarship was created with the belief that everyone who wants to pursue a higher education should have the opportunity to do so. Nationwide Debt Direct is committed to helping students receive a higher education, while also keeping their student debt as low as possible. Student loan debt statistics are shocking and can become debilitating to some students. This scholarship was created to show NDD’s commitment to supporting students who have thought about their financial future as well as their academic future.”
You can find out more about the requirements and scholarship opportunity here:
In times like this when so many American families are struggling with so much debt and trying to find ways to help, it is nice to know that a company with such a wonderful reputation such as Nationwide are doing so much to help.