Delray Credit Counseling
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What Does Delray Credit Counseling do?
What Does Delray Credit Counseling do?
Delray is a good and ethical firm that does a form of Debt Consolidation that is referred to as credit counseling.
Delray Credit Counseling specializes in debt consolidation and credit counseling services - which is usually used to lower monthly payments and to get debt free faster than just paying minimum payments on unsecured debts such as credit cards.
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VIDEO: Credit Counseling - What is Credit Counseling?
Debt statistics
If you are struggling with debt, you are not alone. According to the NY Federal Reserve total household debt as of Quarter Q4 2023 was $17.503 trillion. Student loan debt was $1.601 trillion and credit card debt was $1.129 trillion.
According to data gathered by Urban.org from a sample of credit reports, about 26% of people in the US have some kind of debt in collections. The median debt in collections is $1,739. Student loans and auto loans are common types of debt. Of people holding student debt, approximately 8% had student loans in collections. The national Auto/Retail debt delinquency rate was 4%.
Each state has its rate of delinquency and share of debts in collections. For example, in Kentucky credit card delinquency rate was 4%, and the median credit card debt was $435.
While many households can comfortably pay off their debt, it is clear that many people are struggling with debt. Make sure that you analyze your situation and find the best debt payoff solutions to match your situation.
