On the whole, the state of Oregon is doing pretty well when it comes to credit and debt. But that means very little if you’re one of the few who isn’t doing well. If you have credit card debt, student loans, mortgages, or other types of money you owe, you may be struggling to make your payments. You put most of your paycheck into paying off your debt every month, but it barely seems to make a dent. Fortunately, there are a variety of ways to get Oregon debt help. Here’s what you need to know.
The average credit score in Oregon is 709, which is a bit higher than the national average of 696. Borrowers in Oregon have an average of $4,773 in debt, which is in the low range. Credit delinquency is low as well, with only 0.45% of debtors who are more than 90 days late with a payment. This is 21% less than the national average of 0.57%. The poverty rate is a little above average, unfortunately, at 13.3%.
While many states have a complex statute of limitations on debt repayment, with a host of different criteria for different situations, Oregon makes it a simple six years. The only exception is if you own a business who owes money under the Unlawful Trade Practices Act, wherein the statute is only one year.
If you’d like to get out from under your debt and take control of your own finances, there are several ways to do it. An Oregon debt consolidation program can take all of your various creditors and combine them into a single monthly payment that’s easy to manage.
Contact Americor’s financial experts to learn more about the debt relief options that are open to you in Oregon. We know the debt laws in your state and can work with you to find a solution that meets your specific needs. Give us a call, and we’ll set up a free consultation to help you get out of debt and get your life back as quickly and painlessly as possible.