San Francisco, CA -- (SBWire) -- 04/27/2015 --BestDebtCompanys.com (BDC) released a new survey concerning the amount of debt people accumulate before seeking professional help. This is first survey released this year for BestDebtCompanys.com.
The BDC team wanted to gain insight regarding the amount of debt people had and whether or not they were seeking professional help. BestDebtCompanys.com wanted to better gage consumers' thoughts about debt.
"Debt can be a scary thing to face alone," BDC PR Director Kate Ward said. "It is important to see where consumers' heads are regarding these issues."
The survey asked the following question to 1,000 participants: "How much debt would you have to accumulate before you reached out to a professional for help?"
These are the responses with their percentages:
- Over $25,000-37.6 percent
- $20,000-$25,000-20.3 percent
- $10,000-$15,000-11.9 percent
- $5,000-$10,000 – 12.4percent
- Under $5,000 – 17.9 percent
The majority response that consumers chose was that they needed to accumulate over $25,000 in debt before they sought out a professional for help. It had 37.6 percent of the responses. The next closest was for those who had between $20,000-$25,000 in debt with 20.3 percent.
This survey sheds some light on the debt industry as whole and the types of clients they deal daily. It shows how the majority of customers only seek help with a large sum of unsecured debt. This type of debt include credit cards bills, medical bills or other expenses without collateral.
In other words, student loans, mortgages and auto loans are not included in the debt amount. People are seeking for professional help if they have over $25,000 in unsecured debt.
"We assumed that the majority of people seeking professional help would have high debt amounts," Ward said. "But we didn't expect almost half to have over $25,000 in debt."
This survey provides insight into what kinds of debt people are willing to have, but also provides valuable information to the debt industry as a whole.
The high amount of debt combined with the large majority of responses indicates that the debt industry is here to stay.
About BestDebtCompanys.com
BestDebtCompanys.com provide unbiased reviews of debt consolidation, debt settlement, tax relief and student debt companies. The BDC team believes in the customer's voices. The more real reviews, the more informed potential customers are about debt services.
For more information about this survey, visit BestDebtCompanys.com.
Media Contact
Kate Ward
investigate@thebestcompanys.com
