Missouri Debt Relief Guide
When it comes to credit card debt, Missourians seemed to fare better than most following the pandemic. In fact, the state ranks 31st for highest credit card balances in 2020, with consumers carrying an average balance of $4,950. But things aren’t all roses for Missouri consumers.
Missouri made a multi-million-dollar mistake by overpaying on Federal Pandemic Unemployment Compensation. Nearly 46,000 Missourians were mistakenly paid $150 million worth of aid. That means some Missourians could get hit with liens on their homes, have their wages garnished, or even have money taken from their state and federal income taxes.
“This issue with unemployment just goes to show how unexpected life events can come at any time and make a challenging financial situation even tougher,” says Gary Herman, President of Consolidated Credit. “In times like these, you can see the importance of keeping your finances in the best possible shape. And that starts with paying down credit card debt.”