| Statistic |
Data |
| Number of individuals in debt |
Over 80% of Americans have some form of debt |
| Average credit card debt |
The average credit card debt per household is $6,270 |
| Percentage of debtors seeking help |
Only 30% of individuals in debt seek professional help |
These statistics highlight the widespread issue of consumer debt and the urgent need for financial professionals who are equipped to help individuals in financial distress. By obtaining the Level 3 Award in Financial Hardship, you can position yourself as a trusted advisor and expert in the field of debt management.
This certification covers a wide range of topics, including budgeting, debt consolidation, negotiation with creditors, and financial planning. With this knowledge, you can create personalized debt repayment plans for your clients, help them lower their interest rates, and guide them towards long-term financial success.
In conclusion, mastering the art of helping consumer debtors with the Level 3 Award in Financial Hardship is a game-changer for both you and your clients. By obtaining this certification, you can make a real difference in the lives of individuals struggling with debt and empower them to take control of their financial future.
Remember, the key to success in this field is continuous learning and growth. Stay updated on the latest trends and strategies in debt management, and always strive to provide the best possible solutions for your clients. With the Level 3 Award in Financial Hardship, you can truly make a positive impact and help consumer debtors achieve a debt-free life.
Source of data: National Foundation for Credit Counseling