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DebtValley helps consumers step out of the shadow of the valley of debt by providing a platform for consumers and industry experts to connect and discuss various debt management alternatives to help consumers understand the advantages and disadvantages of each option.
According to the Federal Reserve report the total amount of consumer debt decreased at an annual rate of 7.5%, wherein revolving credit decreased at annual rate of 11 percent and non-revolving credit decreased at an annual rate of 5.25 %. This seems like good news, however, the real numbers showed that consumer debt is still over $2.5 trillion.If you compare this staggering number to the estimated population of the United States, each individual, woman, man and child in this country owes at least $8300. That overall debt is nearly twice the overall GDP of France in 2008. Uncontrolled debt is pushing millions of Americans down the poverty line. San Francisco Chronicle reports that “Four million Americans would fall below the federal poverty line if the interest they pay on their credit cards and other consumer debt were subtracted from their incomes, say two economics professors who call these people the ‘debt poor.’” (Source: Tom Abate, San Francisco Chronicle, 18 June, 2009).
DebtValley was established by Maceo Group, LLC to provide an online community that is dedicated in providing resources and information to consumers looking into alleviating and/or managing their debt.
Consumers currently facing financial difficulties in paying down their debt typically have 6 options:
- Bankruptcy
- Debt Consolidation
- Credit Counseling
- Debt Settlement / Debt Negotiation
- Continue Paying Minimum Amount Due
- Do Nothing
The overall objective of the site is to help consumers make an informed decision in selecting the right debt management or debt relief solution that will work for them.
