From the moment the first pilgrims arrived on the Mayflower, Massachusetts has been central to American history. Today, the Commonwealth of Massachusetts is the economic and cultural center of New England, with world-class universities, successful sports teams, and major multinational corporations all calling the Bay State home. Massachusetts is routinely ranked among the top states when it comes to education, health care, and other key quality of life metrics. Unfortunately, this comes at a cost – the state has a high cost of living, and one of the lowest fiscal stability scores in the nation.
Put simply. Living in Massachusetts is great if you can afford it, but for most people, the high cost of living can be tough to stomach. Food, housing, and other essentials cost significantly more in MA than in other states. With skyrocketing inflation making the problem worse, many families have racked up credit card debt to stay afloat.
As a result, Massachusetts debt relief is an increasingly pressing concern. The average Massachusetts household has $1564 in credit card debt, with a median delinquent debt of $556. Though the state is highly educated and has one of the highest median household incomes in the country, it also has home prices that are almost triple the national average. High mortgages and student loans can make Massachusetts debt relief complicated, but there are options out there.
Making minimum payments on your credit card bill might feel like a step forward, but it’s more like treading water. Fortunately, there are better Massachusetts debt relief options out there.