TULSA, Okla. — Tulsa residents drowning in high interest credit card, student loan, and medical debt have free resources available to help them get back on track — and financial experts say the strategies to pay it down may be simpler than many people think.
Kennedy Dixon, of the Financial Empowerment Center, said: “1 in 3 Tulsans has a debt that goes to collection, so that just tells us folks are really struggling to pay down debt.”
The Financial Empowerment Center offers free, one-on-one financial counseling to Tulsa residents through the Tulsa Responds storefront on Sheridan.
“Folks are really experiencing a lot of problems when it comes to debt management. It’s like a, a dark cloud over folks to try and manage those payments and by yourself it’s, it’s even scarier. So, our counselors provide not just financial advice but some support along the way,” Dixon said.
For those looking to tackle high interest debt on their own, LendingTree has outlined several strategies. One option for those who qualify is to transfer a balance to a zero percent interest card to prevent additional interest from accruing.
Debt consolidation through a personal loan is another avenue worth considering, according to Matt Schulz of LendingTree…