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If you have been struggling with debt, the providers of CareOne Debt Relief Services® know how you feel, because many of us have been there ourselves, including our founder, Bernie Dancel. We have learned through personal experience what it takes to overcome this challenge and we can show you how to manage your debt, too. Because we know that each person’s circumstances are unique, we offer more than one debt relief solution to help you get back on the road to financial recovery, much like it appears that the state of Arizona is poised to do.
We realize that like the rest of the nation, for the last several years, Arizona residents have felt the effects of the economic recession, the mortgage crisis and subsequent decline in the real-estate market. However, there are encouraging economic indicators that point to the state’s economy taking a turn in a positive direction. According to a study by the University of Arizona’s Economic and Business Research Center, in the last quarter of 2011, retail sales in Arizona increased by 8% and personal income grew by 4.5%.1 Similar gains are projected for 2012.
According, to the same study, employment rose by 2.1% in the first three months of 2012, and since August 2010, when unemployment reached its lowest point, almost 75,000 jobs have been created. It is predicted that another 50,000 jobs will be added this year and next, which bodes well for Arizona’s financial well-being.
The real estate market in Arizona is also on the rebound after experiencing one of the bigger busts in the national home price meltdown. According to a story reported by National Public Radio (NPR), median home prices in Phoenix rose 20%over the past year and Tucson was recently named the nation's best market for investors2. According to research conducted by Arizona State University, foreclosures in the Phoenix area are down 60% from the previous year.3
While this is all promising news, we also know from talking to those seeking debt relief in Arizona that the average amount of debt they owe has increased 12% year over year from 2010 to 2011, and was 20% higher than the national average, so there’s still a long way to go before things stabilize.
So, if you are concerned about your financial situation, we encourage you to contact us to review your options. Since many of us have experienced our own struggle with debt we understand the concerns of Arizona residents and we want to help. Call one of our Certified Personal Finance Counselors® today. They’ll provide a free debt relief analysis and help you choose a debt relief option that is right for your unique situation.