A recent USA Today news report highlighted some alarming statistics. According to the report, the amount of credit card debt amassed by consumers has increased 368 percent from two years ago; however the number of people seeking help from credit counseling agencies has dropped 20 percent.
Financial experts suggest the declining number of people seeking help may be because people are tired of trying and have just given up.
It’s easy to become discouraged – especially in today’s economy. Unfortunately, debt isn’t something that should be ignored. Our studies show debt affects far more than your finances. Debt and financial stress affects your health, your relationships and your well-being.
So as the number of consumers in debt increases, it’s important to understand that there are options available. It’s also imperative to remember that there is always hope, regardless of your financial situation.
In fact, in 2010, MMI assisted more people than ever. Through our counseling services, we were able to assist more than 470,000 consumers in need of help. And as a result, our clients were able to pay back more than $740 million in debt – and that was just last year!
The feelings that come as a result of freeing yourself from debt are ones best described by those who have taken the path to financial freedom. Listen to our new podcast series to hear truly inspiring success stories from former clients. And if you haven’t already, take a minute and watch this video on the benefits of repaying debt.
Remember, there’s always a light at the end of the tunnel. If you need help finding it, that’s what we’re here for!