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- 1 min read
Debt Consol can be Short for Debt Consolidation
Were not able to find what you were looking for when you searched for debt consolidation? Sometime people search for the abbreviation debt consol to see if they can get better results. Sometimes you are in such a hurry that you hit enter and search for debt consol before you were able to complete your thought. Debt consol may be a shorter version of consolidation, but that does not mean that you need less information regarding options for your finances.
You have found the best information on debt consolidation.
Find out more about consolidating your debt and other options at Bills.com. With guides and articles on financial solutions, we have all the information that you will need to make good decisions. Visit our Debt Consolidation Savings Center to find out more about the services available to you.
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Bills.com brings you the information relevant to your finances and can help you find lenders to consolidate.
Did you know?
Debt is used to buy a home, pay for bills, buy a car, or pay for a college education. According to the NY Federal Reserve total household debt as of Q4 2023 was $17.503 trillion. Auto loan debt was $1.607 trillion and credit card was $1.129 trillion.
A significant percentage of people in the US are struggling with monthly payments and about 26% of households in the United States have debt in collections. According to data gathered by Urban.org from a sample of credit reports, the median debt in collections is $1,739. Credit card debt is prevalent and 3% have delinquent or derogatory card debt. The median debt in collections is $422.
The amount of debt and debt in collections vary by state. For example, in Montana, 20% have any kind of debt in collections and the median debt in collections is $1589. Medical debt is common and 11% have that in collections. The median medical debt in collections is $702.
To maintain an excellent credit score it is vital to make timely payments. However, there are many circumstances that lead to late payments or debt in collections. The good news is that there are a lot of ways to deal with debt including debt consolidation and debt relief solutions.
