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      November 15, 2018

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Debt Consolidation in South Dakota

South Dakota MapThe recession may feel as though it was a fair time ago and while for some the worse part is indeed over, the truth remains that many Americans are still trying to pull themselves out of the debt that built up during the downturn. Figures concerning rates of personal debt in South Dakota are actually slightly favourable at $51,120 to those of the national average, which are $2,000-$3,000 higher.

While the figure may be less than other states, it is still a significant sum and finding available money to pay off the debt when continuing to support the family can be extremely tough. Debt consolidation is a viable solution for many however, and particularly those individuals and households that have racked up several different types of debt from an array of different lenders.

South Dakota has one of the nations smallest GDP outputs at around $38.9 billion but in the years following the recession the rate of unemployment managed to stay fairly low at roughly 4.5%. Since 2008 the economy has slowly been improving and personal debt has been gradually decreasing over the last few years. The total population of South Dakota is small at just 850,000, which is surprising given that the state frequently makes top ten lists for overall quality of life.

Just some of the perks of living in South Dakota include the low rates of crime, easy access to excellent health care and the pleasant climate. The cost of living in general is also cheaper than the national average by an impressive 11%. Clearing built up debt using methods such as debt consolidation can make it possible for residents to enjoy more of their hard earned cash as well as the many benefits of living in the beautiful region.

 

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