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Debt consolidation one option chosen as Americans spend hours every day troubled by bills
By Oscar Monfort on Jul 1st, 2010
Worrying about debt can end up making it even more difficult for people to deal with their problems, and a recent survey shows many Americans spend hours a day with bills on their minds.
According to the poll conducted by Survey Sampling International for a debt-related website, 10 percent of respondents said they spend 10 or more hours a day worrying about how to pay off their bills. On average, the results show people spend about 3.5 hours every day concentrating on these concerns.
The survey also showed consumers choose a variety of options when it comes to trying to deal with what they owe. Forty-seven percent said they have worked with a financial advisor, developed a household budget or joined a program that aims to reduce their debts.
One of the options they may have chosen is debt consolidation, which offers a number of benefits. For example, this approach may lead to lower interest rates than people currently face on their credit cards.
Debt consolidation can also make bills easier to keep track of, as it reduces multiple statements into one document.
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