Wilmington, DE (PRWEB) April 29, 2014
Trying to cope with big debt can be a daunting task. As a result many residents of Delaware have chosen to use debt consolidation loan companies to help them become debt free. Unfortunately, there are many unethical debt settlement companies that have scammed their customers by charging big upfront fees and then not delivering on their promises. In some cases, Delawareans paid these companies substantial amounts of money only to find that they didn’t receive the services they had been promised.
The company BestDebtConsolidationLoans.org recently surveyed the debt consolidation loan companies available to residents of Delaware to determine the best ones and those that could be trusted. They used six criteria in analyzing these companies: Customer service, fees, debt solution options, customer satisfaction, business ethics and financial standing.
What BestDebtConsolidationLoans.org found is that there are honest debt consolidation loan companies available to residents of Delaware that can be trusted to deliver on their promises. Additionally, the company ranked the top three of these companies. They are National Debt Relief, CuraDebt and American Debt Enders.
It is fortunate that there are honest and ethical debt consolidation loan companies available to residents of Delaware as they are currently carrying credit card debt averaging $5,324 which is slightly higher than the US national average of $5,235 per borrower. Also, as of 2011, Delaware led the nation in average consumer debt at $20,233.
Why do residents of Delaware carry so much debt? It has an unemployment factor of just 6.5%, which is much better than the U.S. as a whole with its unemployment rate of 7.3%. Delawareans have an average credit score of 680, which is slightly lower than the average FICO score for the U.S. of 689. But this could be explained by the state's median household income of $48,971 vs. the national median household income of $51,017.
In addition, the state's largest city, Wilmington, has an unemployment rate of 10.7%, while Dover's unemployment rate is 9.1%. This suggests that the principal reasons why Delawareans are struggling with debt is the state's unemployment rate coupled with high average debt per borrower. In addition, it is believed that many residents lack good personal financial management skills.
Delaware's workforce is 405,750. Given its unemployment rate of 6.5%, there are approximately 27,000 Delawareans still out of work. It is likely that this also contributes to the problems Delaware residents have with debt.
National Debt Relief was given the top ranking by BestDebtConsolidationLoans.org based on several factors. First, was the fact that the company provides its clients with custom-designed debt consolidation solutions and that it has maintained an A rating with the Better Business Bureau for the past several years. The BestDebtConsolidationLoans.org analysts who did the survey also found that National Debt Relief is ethical in that it charges its customers no cancellation or upfront fees.
These analysts also found that the customers of National Debt Relief almost always ranked their satisfaction with its debt relief services as "very satisfied." BestDebtConsolidationLoans.org analysts also found National Debt Relief charged its customers nothing until it had satisfactorily settled their debts and provided them with payment plans that they approved.
CuraDebt was the debt consolidation loan company ranked second by BestDebtConsolidationLoans.org. It specializes in helping customers who have more than $10,000 in debt and is usually able to deliver on the promises it makes to its customers because of the strong working relationships it has with the credit card companies. CuraDebt has been able to successfully help its customers with student loan debts, tax debts and defaulted loans as well as credit card debts.
American Debt Enders was ranked third by BestDebtConsolidationLoans.org. The company has been in business for nearly 7 years. It specializes in working with customers that have more than $5,000 in debts. American Debt Enders reports that its counselors are able to help the company’s clients with virtually every type of credit problem even with improving their credit scores.
Delaware residents who would like to learn more about the three debt consolidation loan companies should go to http://www.bestcreditconsolidationloans.org.