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Georgia Debt Relief, Settlement and Consolidation Free Information (the information on this web page is for informational and educational purposes, provided by Golden Financial Services)

In Georgia, Federal student loan debt consolidation programs are available through StudentLoans.Gov. 

Georgia debt consolidation loans are another popular choice. These loans can be helpful if they are low-interest loans. Low-interest debt consolidation loans can reduce a person’s payment and get them out of debt faster. 

Georgia debt settlement programs can be dangerous. Debt settlement and bankruptcy are two Georgia debt relief programs that we recommend consumers try to avoid, due to the devastating negative credit effects that can result from these options. 

Now; let’s take a look at some interesting Georgia debt, unemployment and poverty statistics.  These statistics help to explain why so many people in Georgia are experiencing such extreme financial hardships.

Georgia Debt Statistics and Georgia Debt Relief Options

Georgia Unemployment VS. US Unemployment Averages

Georgia:  As of late 2013 8.8% of the labor force was unemployed. (8th highest unemployment rate in the nation.  422.5 thousand people in Georgia were unemployed.)

Nationwide: 8.1% of the labor force was unemployed as of late 2013.

Georgia Poverty VS. Total US Poverty

Georgia:  14.7% of families in Georgia live below the poverty level. (6th worst state in America)

Nationwide: 11.7% of families are below the poverty level.

Georgia Student Loan Debt VS. Total US Student Loan Debt

Georgia:  The average student loan debt for College graduates is at $22,443.

US:  The average student loan debt for college graduates is at $24,854.

Georgia Makes #3 on the list for the Highest Credit Card Debt

Georgia amongst cities with the Highest Credit Card Debt
Georgia Makes The Top 25 List

Bankruptcy Statistics for Georgia

Georgia:  72,198 people filed for bankruptcy in 2011 in Georgia.

US: Just under 1.37 million people filed for bankruptcy in the US.

Georgia Debt Relief Statistics

The following data has been collected from our internal software at Golden Financial Services. 

Debt Relief, Consolidation and Settlement Companies

Georgia Debt Relief, Settlement and Consolidation Companies

What are Debt Relief Services Available in the United States?

1.  Debt Settlement is a popular option to pay off unsecured debt.  This option can lower a person’s credit score, but in the end, you could end up paying less than the total balance owed.   Debt settlement programs can help consumers with avoiding bankruptcy.   Average debt settlement plans last for around 36 months.  With debt settlement, one creditor at a time is settled and paid off, until the consumer is debt free. 

2.  Debt Consolidation is another popular option. A consumer credit counseling program can reduce your interest rates and consolidate your payments into one. 

3.  Bankruptcy should be a consumer’s last option that they consider for debt relief.  Consumers often cannot qualify for debt settlement or consumer credit counseling, where bankruptcy is their only option left.   To learn more about the different types of bankruptcy, visit this bankruptcy debt relief infographic.

4.  Student Loan Debt Relief includes 6 different government programs.  To learn about student loan debt relief service visit here.



Bureau of Labor Statistics

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