For the past few years, California has run into its share of financial problems, including unemployment funds owing the federal government, unfulfilled pension promises, and expensive public works projects. A task force estimated that California’s debt ranged anywhere from $167 billion to $335 billion, and the strain on the state’s finances is symbolic of the struggles that its residents face every day.
For those living in Los Angeles, these struggles are all too real. The median rent for a studio apartment in Santa Monica is a whopping $2,010 a month. The average cost of living in LA is 27 percent higher than the national average, while the minimum wage in California is currently only $8 an hour. This puts a major strain on residents, who may need the help of a credit advisor or debt management program.
American Consumer Credit Counseling is a nonprofit organization that offers consumer credit counseling services, debt management, and financial management education to consumers nationwide. With branches in various parts of the country, as well as certification to do business in all 50 states, ACCC aims to help Los Angeles residents manage their credit card debt and gain financial peace of mind.
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