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Consumer Debt Facts in Palmdale

California Consumer Debt Accumulation by County

Palmdale Consumer Debt Accumulation

$273 dollars in debt in 2016

The average Palmdale resident accumulated $273 dollars in debt in 2016. Palmdale citizens racked up a total of $42.9 million in debt in the 2016 fiscal year.

What are the Debt Consolidation Options available in Palmdale?

Facing Debt: You have options

If you've got some serious debt accumulating, it can be extremely daunting. When the bills keep piling up, and you might not know where to turn to for help. Maybe you've heard a bit about debt consolidation but aren't too sure on how it can help you climb your way out from the hole you're in.

Debt consolidation doesn't have to be scary, and there are many options which will help you get out of debt faster. Research all of your options and then pick the one that works best for you and your financial situation.

Secured Debt Consolidation Loans in Palmdale

Typically a secured debt consolidation loan allows you to lump most of your debt payments under a single bill at a lower rate than the individual rates you may have been getting. However, in order to secure a lower rate with a secured debt consolidation loan, you must have some type of asset to use as collateral, such as your home. More information on that can be found below.

How much of a loan you can get depends on the type of collateral you have and how much it's worth. These types of loans can also be repaid back over a long length of time, anywhere from 5 to 30 years, and they can often boost your credit rating if managed properly. Otherwise, you risk defaulting on the loan and losing the asset used as collateral.

Unsecured Debt Consolidation Loans in Palmdale

Much like a secured debt consolidation loan, an unsecured debt consolidation loan lets you combine your debt payments under one lump sum with one interest rate. However, unlike a secured debt consolidation loan, you're not required to have an asset or collateral to receive such a loan.

Because you aren't offering up any collateral for such a loan, it's a much riskier loan for debt consolidators, and your interest rate could be somewhat high. These loans are determined according to your credit history and score, and the upside to an unsecured debt consolidation loan is that you aren't in jeopardy of losing your asset should you default.

Using a Home Equity Loan as Debt Consolidation in CA

A home equity loan lets you borrow money, using your home as collateral. This home equity loan is essentially a second mortgage that allows you to turn the equity on your home (the money your property is worth minus the amount you owe on it) into cash to be used at your discretion, such as debt consolidation. These loans are set up to be repaid quicker than your mortgage in equal payments with a fixed interest rate.

Home equity loans are secured loans which have the same risks and rewards already mentioned.

There are also programs which permit you to consolidate all of your credit card debt into one single payment (and interest rate). If you've got good credit, you could also be able to negotiate a lower interest rate on your credit cards, making it easier to repay.

Another option is to qualify for a new credit card at a low introductory interest rate (possibly as low as 0%) and transfer your credit card balance to your new card. While you're in your interest free rate, you should pay double payments in order to pay off your debt faster. But understand that the interest may very well be fairly high after the promotional period. Consider this way of consolidating debt only if you know you can pay off the debt while the introductory rate is in effect.

Another option with respect to debt consolidation is to enroll in a debt management program. A credit counseling agency will help you set up a debt management plan to help you pay off your debt as quickly as possible. This agency will also usually negotiate with your debtors so that they can reduce interest rates and fees.

Once the repayments are negotiated you will usually set up an account with the credit counseling agency and pay one lump sum a month into the account. The credit counseling agency will then disburse the payments out to each creditor. This benefits you because you only have to make one payment, and additionally it gives creditors more assurance that your payments will be made on time every month.

Credit counseling agencies can also help you develop a budget that's simple for you to follow and help alleviate some of the stress your debt has been causing you. If you stick to the plan a debt management program can help you save money, get rid of debt sooner and have a positive effect on your credit score.

Debt settlement is a strategy intended to pay off debts for less than you owe in a timeframe less than if you pay the debt in full. Debt Settlements are usually reserved for higher debt amounts of at least $10,000. Usually, the consumer enlists the help of a professional debt settlement company and/or lawfirm.

Those who choose to settle their debt can end up paying less than the full amount they owe. You will usually damage your credit in the short term, and there is a risk of litigration from creditors.

If you are serious about settling your debt, give us a call and we will see if you qualify.

Consumers have recently filed 208 debt or credit card complaints in Palmdale.

Date Company and Reason
03/25/2018 A complaint against Alliance Data Card Services was filed on 03/25/2018 regarding credit card or prepaid card practices
03/19/2018 A complaint against Continental Finance Company, LLC was filed on 03/19/2018 regarding credit card or prepaid card practices
03/07/2018 A complaint against CITIBANK, N.A. was filed on 03/07/2018 relating to debt collection practices and alleges that CITIBANK, N.A. is attempting to collect a debt not owed by the consumer.
03/05/2018 A complaint against USCB, INC. was filed on 03/05/2018 relating to debt collection practices and alleges that USCB, INC. is attempting to collect a debt not owed by the consumer.
02/28/2018 A complaint against Applied Data Finance, LLC was filed on 02/28/2018 regarding debt collection practices
02/26/2018 A complaint against CAPITAL ONE FINANCIAL CORPORATION was filed on 02/26/2018 regarding credit card or prepaid card practices
02/14/2018 A complaint against Designed Receivable Solultions, Inc. was filed on 02/14/2018 relating to debt collection practices and alleges that Designed Receivable Solultions, Inc. is attempting to collect a debt not owed by the consumer.
02/09/2018 A complaint against Ray Klein, Inc. was filed on 02/09/2018 relating to debt collection practices and alleges that Ray Klein, Inc. is attempting to collect a debt not owed by the consumer.
01/29/2018 A complaint against ConServe was filed on 01/29/2018 regarding debt collection practices
01/12/2018 A complaint against CAPITAL ONE FINANCIAL CORPORATION was filed on 01/12/2018 regarding debt collection practices

Last updated: 2018-04-12

Top Reasons for Debt in Palmdale

OverSpending

The single most common form of debt help that people seek is for credit cards that got out of control.

Divorce

If you are going through a change in marital status in Palmdale and can't pay all of the bills, we may be able to help.

Job Loss

When unemployment in Palmdale rises, many consumers are left unable to pay their bills. Debt management options are available.

Medical Bills

Unexpected medical expenses happen. A simple treatment can be billed at outrageous rates. Many consumers prefer to settle their medical debt.

Los Angeles County, California annual city consumer debt rankings are in. We have analyzed the average consumer spending behavior across 127 cities and towns in Los Angeles County, CA. The average citizen in Palmdale is spending approximately $273 more dollars than they earned annually, compared to the average of $390 across California. All statistics according to the latest data(2016).

Highest Debt Cities in Los Angeles County California

  1. La Canada Flintridge ranks 1st out of 127 cities in Los Angeles County in consumer debt accumulation with $72 per resident on average in 2016.
  2. Mayflower Village ranks 2nd out of 127 cities in Los Angeles County in consumer debt accumulation with $112 per resident on average in 2016.
  3. Cerritos ranks 3rd out of 127 cities in Los Angeles County in consumer debt accumulation with $117 per resident on average in 2016.
  4. Topanga ranks 4th out of 127 cities in Los Angeles County in consumer debt accumulation with $120 per resident on average in 2016.
  5. Rancho Palos Verdes ranks 5th out of 127 cities in Los Angeles County in consumer debt accumulation with $131 per resident on average in 2016.
  6. Diamond Bar ranks 6th out of 127 cities in Los Angeles County in consumer debt accumulation with $136 per resident on average in 2016.
  7. Castaic ranks 7th out of 127 cities in Los Angeles County in consumer debt accumulation with $141 per resident on average in 2016.
  8. Palos Verdes Estates ranks 8th out of 127 cities in Los Angeles County in consumer debt accumulation with $147 per resident on average in 2016.
  9. Rolling Hills Estates ranks 9th out of 127 cities in Los Angeles County in consumer debt accumulation with $149 per resident on average in 2016.
  10. Manhattan Beach ranks 10th out of 127 cities in Los Angeles County in consumer debt accumulation with $156 per resident on average in 2016.
  11. Sierra Madre ranks 11th out of 127 cities in Los Angeles County in consumer debt accumulation with $157 per resident on average in 2016.
  12. Agoura Hills ranks 12th out of 127 cities in Los Angeles County in consumer debt accumulation with $163 per resident on average in 2016.
  13. Westlake Village ranks 13th out of 127 cities in Los Angeles County in consumer debt accumulation with $166 per resident on average in 2016.
  14. West Whittier-Los Nietos ranks 14th out of 127 cities in Los Angeles County in consumer debt accumulation with $174 per resident on average in 2016.
  15. South San Jose Hills ranks 15th out of 127 cities in Los Angeles County in consumer debt accumulation with $175 per resident on average in 2016.
  16. Del Aire ranks 16th out of 127 cities in Los Angeles County in consumer debt accumulation with $176 per resident on average in 2016.
  17. Baldwin Park ranks 17th out of 127 cities in Los Angeles County in consumer debt accumulation with $177 per resident on average in 2016.
  18. San Pasqual ranks 18th out of 127 cities in Los Angeles County in consumer debt accumulation with $181 per resident on average in 2016.
  19. Lakewood ranks 19th out of 127 cities in Los Angeles County in consumer debt accumulation with $182 per resident on average in 2016.
  20. Alondra Park ranks 20th out of 127 cities in Los Angeles County in consumer debt accumulation with $183 per resident on average in 2016.
  21. Arcadia ranks 20th out of 127 cities in Los Angeles County in consumer debt accumulation with $183 per resident on average in 2016.
  22. San Marino ranks 22nd out of 127 cities in Los Angeles County in consumer debt accumulation with $184 per resident on average in 2016.
  23. El Segundo ranks 23rd out of 127 cities in Los Angeles County in consumer debt accumulation with $186 per resident on average in 2016.
  24. Hacienda Heights ranks 24th out of 127 cities in Los Angeles County in consumer debt accumulation with $188 per resident on average in 2016.
  25. Glendora ranks 25th out of 127 cities in Los Angeles County in consumer debt accumulation with $197 per resident on average in 2016.
  26. Carson ranks 27th out of 127 cities in Los Angeles County in consumer debt accumulation with $198 per resident on average in 2016.
  27. La Habra Heights ranks 27th out of 127 cities in Los Angeles County in consumer debt accumulation with $198 per resident on average in 2016.
  28. Monrovia ranks 27th out of 127 cities in Los Angeles County in consumer debt accumulation with $198 per resident on average in 2016.
  29. Santa Clarita ranks 29th out of 127 cities in Los Angeles County in consumer debt accumulation with $199 per resident on average in 2016.
  30. La Crescenta-Montrose ranks 31st out of 127 cities in Los Angeles County in consumer debt accumulation with $205 per resident on average in 2016.
  31. Torrance ranks 31st out of 127 cities in Los Angeles County in consumer debt accumulation with $205 per resident on average in 2016.
  32. West Carson ranks 31st out of 127 cities in Los Angeles County in consumer debt accumulation with $205 per resident on average in 2016.
  33. La Puente ranks 31st out of 127 cities in Los Angeles County in consumer debt accumulation with $205 per resident on average in 2016.
  34. Glendale ranks 35th out of 127 cities in Los Angeles County in consumer debt accumulation with $207 per resident on average in 2016.
  35. Avocado Heights ranks 35th out of 127 cities in Los Angeles County in consumer debt accumulation with $207 per resident on average in 2016.
  36. Redondo Beach ranks 35th out of 127 cities in Los Angeles County in consumer debt accumulation with $207 per resident on average in 2016.
  37. Downey ranks 37th out of 127 cities in Los Angeles County in consumer debt accumulation with $209 per resident on average in 2016.
  38. Walnut ranks 37th out of 127 cities in Los Angeles County in consumer debt accumulation with $209 per resident on average in 2016.
  39. Lennox ranks 39th out of 127 cities in Los Angeles County in consumer debt accumulation with $210 per resident on average in 2016.
  40. La Verne ranks 40th out of 127 cities in Los Angeles County in consumer debt accumulation with $214 per resident on average in 2016.
  41. Santa Fe Springs ranks 41st out of 127 cities in Los Angeles County in consumer debt accumulation with $216 per resident on average in 2016.
  42. West Puente Valley ranks 42nd out of 127 cities in Los Angeles County in consumer debt accumulation with $218 per resident on average in 2016.
  43. Covina ranks 42nd out of 127 cities in Los Angeles County in consumer debt accumulation with $218 per resident on average in 2016.
  44. West Covina ranks 44th out of 127 cities in Los Angeles County in consumer debt accumulation with $220 per resident on average in 2016.
  45. Paramount ranks 45th out of 127 cities in Los Angeles County in consumer debt accumulation with $221 per resident on average in 2016.
  46. East San Gabriel ranks 46th out of 127 cities in Los Angeles County in consumer debt accumulation with $224 per resident on average in 2016.
  47. Maywood ranks 46th out of 127 cities in Los Angeles County in consumer debt accumulation with $224 per resident on average in 2016.
  48. Pico Rivera ranks 48th out of 127 cities in Los Angeles County in consumer debt accumulation with $225 per resident on average in 2016.
  49. Hermosa Beach ranks 49th out of 127 cities in Los Angeles County in consumer debt accumulation with $228 per resident on average in 2016.
  50. Stevenson Ranch ranks 50th out of 127 cities in Los Angeles County in consumer debt accumulation with $236 per resident on average in 2016.
  51. Calabasas ranks 51st out of 127 cities in Los Angeles County in consumer debt accumulation with $238 per resident on average in 2016.
  52. Agua Dulce ranks 52nd out of 127 cities in Los Angeles County in consumer debt accumulation with $241 per resident on average in 2016.
  53. West Rancho Dominguez ranks 53rd out of 127 cities in Los Angeles County in consumer debt accumulation with $244 per resident on average in 2016.
  54. Altadena ranks 54th out of 127 cities in Los Angeles County in consumer debt accumulation with $246 per resident on average in 2016.
  55. South Gate ranks 55th out of 127 cities in Los Angeles County in consumer debt accumulation with $247 per resident on average in 2016.
  56. Temple City ranks 56th out of 127 cities in Los Angeles County in consumer debt accumulation with $248 per resident on average in 2016.
  57. Lynwood ranks 57th out of 127 cities in Los Angeles County in consumer debt accumulation with $250 per resident on average in 2016.
  58. Artesia ranks 58th out of 127 cities in Los Angeles County in consumer debt accumulation with $254 per resident on average in 2016.
  59. Claremont ranks 59th out of 127 cities in Los Angeles County in consumer debt accumulation with $255 per resident on average in 2016.
  60. South Pasadena ranks 59th out of 127 cities in Los Angeles County in consumer debt accumulation with $255 per resident on average in 2016.
  61. Rosemead ranks 61st out of 127 cities in Los Angeles County in consumer debt accumulation with $257 per resident on average in 2016.
  62. Whittier ranks 62nd out of 127 cities in Los Angeles County in consumer debt accumulation with $260 per resident on average in 2016.
  63. South El Monte ranks 63rd out of 127 cities in Los Angeles County in consumer debt accumulation with $264 per resident on average in 2016.
  64. Duarte ranks 64th out of 127 cities in Los Angeles County in consumer debt accumulation with $265 per resident on average in 2016.
  65. Montebello ranks 65th out of 127 cities in Los Angeles County in consumer debt accumulation with $270 per resident on average in 2016.
  66. Avalon ranks 66th out of 127 cities in Los Angeles County in consumer debt accumulation with $271 per resident on average in 2016.
  67. South San Gabriel ranks 67th out of 127 cities in Los Angeles County in consumer debt accumulation with $272 per resident on average in 2016.
  68. Charter Oak ranks 69th out of 127 cities in Los Angeles County in consumer debt accumulation with $273 per resident on average in 2016.
  69. South Whittier ranks 69th out of 127 cities in Los Angeles County in consumer debt accumulation with $273 per resident on average in 2016.
  70. Palmdale ranks 69th out of 127 cities in Los Angeles County in consumer debt accumulation with $273 per resident on average in 2016.
  71. La Mirada ranks 71st out of 127 cities in Los Angeles County in consumer debt accumulation with $276 per resident on average in 2016.
  72. Huntington Park ranks 72nd out of 127 cities in Los Angeles County in consumer debt accumulation with $277 per resident on average in 2016.
  73. Culver City ranks 73rd out of 127 cities in Los Angeles County in consumer debt accumulation with $281 per resident on average in 2016.
  74. San Fernando ranks 74th out of 127 cities in Los Angeles County in consumer debt accumulation with $282 per resident on average in 2016.
  75. Gardena ranks 75th out of 127 cities in Los Angeles County in consumer debt accumulation with $284 per resident on average in 2016.
  76. Lake Los Angeles ranks 75th out of 127 cities in Los Angeles County in consumer debt accumulation with $284 per resident on average in 2016.
  77. Signal Hill ranks 77th out of 127 cities in Los Angeles County in consumer debt accumulation with $285 per resident on average in 2016.
  78. Rowland Heights ranks 77th out of 127 cities in Los Angeles County in consumer debt accumulation with $285 per resident on average in 2016.
  79. El Monte ranks 79th out of 127 cities in Los Angeles County in consumer debt accumulation with $290 per resident on average in 2016.
  80. Val Verde ranks 80th out of 127 cities in Los Angeles County in consumer debt accumulation with $299 per resident on average in 2016.
  81. Bell Gardens ranks 81st out of 127 cities in Los Angeles County in consumer debt accumulation with $300 per resident on average in 2016.
  82. Norwalk ranks 82nd out of 127 cities in Los Angeles County in consumer debt accumulation with $305 per resident on average in 2016.
  83. View Park-Windsor Hills ranks 83rd out of 127 cities in Los Angeles County in consumer debt accumulation with $307 per resident on average in 2016.
  84. Walnut Park ranks 84th out of 127 cities in Los Angeles County in consumer debt accumulation with $308 per resident on average in 2016.
  85. Bellflower ranks 85th out of 127 cities in Los Angeles County in consumer debt accumulation with $309 per resident on average in 2016.
  86. Compton ranks 86th out of 127 cities in Los Angeles County in consumer debt accumulation with $313 per resident on average in 2016.
  87. Commerce ranks 87th out of 127 cities in Los Angeles County in consumer debt accumulation with $316 per resident on average in 2016.
  88. Willowbrook ranks 88th out of 127 cities in Los Angeles County in consumer debt accumulation with $317 per resident on average in 2016.
  89. Monterey Park ranks 89th out of 127 cities in Los Angeles County in consumer debt accumulation with $321 per resident on average in 2016.
  90. Ladera Heights ranks 90th out of 127 cities in Los Angeles County in consumer debt accumulation with $327 per resident on average in 2016.
  91. Valinda ranks 91st out of 127 cities in Los Angeles County in consumer debt accumulation with $332 per resident on average in 2016.
  92. Hawthorne ranks 92nd out of 127 cities in Los Angeles County in consumer debt accumulation with $335 per resident on average in 2016.
  93. Inglewood ranks 93rd out of 127 cities in Los Angeles County in consumer debt accumulation with $338 per resident on average in 2016.
  94. Sun Village ranks 93rd out of 127 cities in Los Angeles County in consumer debt accumulation with $338 per resident on average in 2016.
  95. Citrus ranks 95th out of 127 cities in Los Angeles County in consumer debt accumulation with $339 per resident on average in 2016.
  96. South Monrovia Island ranks 95th out of 127 cities in Los Angeles County in consumer debt accumulation with $339 per resident on average in 2016.
  97. Lawndale ranks 97th out of 127 cities in Los Angeles County in consumer debt accumulation with $340 per resident on average in 2016.
  98. East Los Angeles ranks 98th out of 127 cities in Los Angeles County in consumer debt accumulation with $341 per resident on average in 2016.
  99. San Gabriel ranks 99th out of 127 cities in Los Angeles County in consumer debt accumulation with $342 per resident on average in 2016.
  100. Burbank ranks 99th out of 127 cities in Los Angeles County in consumer debt accumulation with $342 per resident on average in 2016.
  101. San Dimas ranks 101st out of 127 cities in Los Angeles County in consumer debt accumulation with $349 per resident on average in 2016.
  102. Hawaiian Gardens ranks 102nd out of 127 cities in Los Angeles County in consumer debt accumulation with $350 per resident on average in 2016.
  103. East Pasadena ranks 103rd out of 127 cities in Los Angeles County in consumer debt accumulation with $355 per resident on average in 2016.
  104. North El Monte ranks 104th out of 127 cities in Los Angeles County in consumer debt accumulation with $356 per resident on average in 2016.
  105. Florence-Graham ranks 104th out of 127 cities in Los Angeles County in consumer debt accumulation with $356 per resident on average in 2016.
  106. Beverly Hills ranks 106th out of 127 cities in Los Angeles County in consumer debt accumulation with $358 per resident on average in 2016.
  107. East Rancho Dominguez ranks 107th out of 127 cities in Los Angeles County in consumer debt accumulation with $362 per resident on average in 2016.
  108. Cudahy ranks 108th out of 127 cities in Los Angeles County in consumer debt accumulation with $363 per resident on average in 2016.
  109. Bell ranks 109th out of 127 cities in Los Angeles County in consumer debt accumulation with $366 per resident on average in 2016.
  110. Azusa ranks 110th out of 127 cities in Los Angeles County in consumer debt accumulation with $367 per resident on average in 2016.
  111. Alhambra ranks 111th out of 127 cities in Los Angeles County in consumer debt accumulation with $398 per resident on average in 2016.
  112. West Athens ranks 112th out of 127 cities in Los Angeles County in consumer debt accumulation with $403 per resident on average in 2016.
  113. Lancaster ranks 112th out of 127 cities in Los Angeles County in consumer debt accumulation with $403 per resident on average in 2016.
  114. Lomita ranks 114th out of 127 cities in Los Angeles County in consumer debt accumulation with $417 per resident on average in 2016.
  115. Pomona ranks 116th out of 127 cities in Los Angeles County in consumer debt accumulation with $419 per resident on average in 2016.
  116. Westmont ranks 116th out of 127 cities in Los Angeles County in consumer debt accumulation with $419 per resident on average in 2016.
  117. Quartz Hill ranks 116th out of 127 cities in Los Angeles County in consumer debt accumulation with $419 per resident on average in 2016.
  118. Acton ranks 118th out of 127 cities in Los Angeles County in consumer debt accumulation with $435 per resident on average in 2016.
  119. Long Beach ranks 119th out of 127 cities in Los Angeles County in consumer debt accumulation with $442 per resident on average in 2016.
  120. Los Angeles ranks 120th out of 127 cities in Los Angeles County in consumer debt accumulation with $482 per resident on average in 2016.
  121. Pasadena ranks 121st out of 127 cities in Los Angeles County in consumer debt accumulation with $504 per resident on average in 2016.
  122. Santa Monica ranks 122nd out of 127 cities in Los Angeles County in consumer debt accumulation with $544 per resident on average in 2016.
  123. Marina del Rey ranks 123rd out of 127 cities in Los Angeles County in consumer debt accumulation with $568 per resident on average in 2016.
  124. Malibu ranks 124th out of 127 cities in Los Angeles County in consumer debt accumulation with $591 per resident on average in 2016.
  125. Elizabeth Lake ranks 125th out of 127 cities in Los Angeles County in consumer debt accumulation with $606 per resident on average in 2016.
  126. Bradbury ranks 126th out of 127 cities in Los Angeles County in consumer debt accumulation with $706 per resident on average in 2016.
  127. West Hollywood ranks 127th out of 127 cities in Los Angeles County in consumer debt accumulation with $707 per resident on average in 2016.
How does Los Angeles County rank in California?
California County Debt Distribution

12 counties in California accumulated $500+ in debt in 2016. Palmdale averaged $273 per resident.

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