Unfortunately, Georgia is a restricted state for Golden Financial Services and we don’t have a program for Georgia consumers, but this page can be used for educational purposes. If you live in Georgia, we recommend you visit the Georgia Better Business Bureau to find a company that is licensed in Georgia.
Before we look at Debt Relief Services, 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 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
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
What Debt Relief Services are 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.