Debt Relief for North Dakota Residents
North Dakota’s also known as “The Peace Garden State”, has endured some harsh economic struggles t in recent years. The North Dakota Forecast Model offered up predictions that the state, as a whole, will continue to see declines in gross state product, labor force participation, total wages and salaries into the near future. Luckily the Fargo and North Forks metro areas have displayed markers of recovery and growth, particularly in the labor force and housing market areas, according to the NDSU study. Bismark, however, continues to display very few positive signs of recovery. Bismark and other areas that have failed to stabilize themselves in North Dakota have resulted in many citizens facing serious financial concerns and mounting debt.
North Dakota Debt Statistics
Here is a look at some of the debt that North Dakotans have been struggling with:
- Mortgage Debt: The average mortgage balances among North Dakotans rose from $162,774 in 2019 to $167,883 in 2020 — a 3.1% climb.
- Auto Loan Debt: Auto loan debt numbers continue to climb in North Dakota. The average amount of auto loan debt climbed from $20,728 in 2019 to $21,834 in 2020 in this state.
- Credit Card Debt: North Dakotans have, on average, $5,265 in credit card debt.
- Household Debt: On average, North Dakotans owe $50,800.
- Student Loan Debt: On average, North Dakotans owe approximately $29,200.
- Bankruptcy and Foreclosures: As of September of 2021, North Dakota had 241 bankruptcy filings. Approximately 91% of those bankruptcy filings have been Chapter 7. As for foreclosures, North Dakota just had 11 foreclosures for North Dakota’s 373,063 households.
CuraDebt Debt Relief For North Dakota Residents:
On average, consumers were hit with crippling interest rates of 16.5% in 2021 by the credit card companies. North Dakotans already struggling to pay off those rising bills might be hammered by interest rates as high as 25% by creditors.
Luckily there is help for North Dakota residents who are struggling with debt due to financial hardship. CuraDebt, a debt settlement firm, is able to assist with settling these debts, so that residents of North Dakota can be on the right path of becoming debt free and having financial freedom.
Debt settlement is a process by which a settlement for a reduced amount is made between a debtor and their creditors. It is an option that can be used for relief from credit card debt, personal loan payments or expensive medical bills. Choosing this plan might be beneficial because it could help you lower your payments substantially. If you are a North Dakota resident and are looking to settle your debt, CuraDebt is able to help you. We will set you up with a special purpose savings account, and each month you will deposit an affordable amount into this account. Once a good amount of savings has accumulated, we will contact your creditors on your behalf and begin negotiations for a settlement.
Contact us today for your free consultation-1-877-850-3328