Debt Consolidation in Action: Connecticut

How Connecticuters are cutting through problems with debt.

Challenges with debt aren’t unique to Connecticut, but residents of any state often find themselves facing a similar set of challenges and financial circumstances. By and large, Connecticut borrowers are being proactive and facing these challenges head-on, so even though the average Connecticuter has student loan debt that’s higher than the national average (over $30,000 versus the national average of $26,529), they have default rate that’s lower than the national average (just over 10% versus the national average of 13%).

The information below is designed to help you understand the situation borrowers in Connecticut are currently facing with debt and how some are using credit counseling to overcome challenges with credit card debt. If you’re facing your own personal battle with debt, we can help. Call or complete an online application to request a free consultation with a certified credit counselor

Debt Statistics in Connecticut

It’s good to note that the average credit card debt balance below puts Connecticut third in the country for high credit card balances. Only Alaskans and Coloradans have more debt.

[1] http://www.washingtonpost.com/blogs/govbeat/wp/2013/08/20/ranking-the-states-credit-card-debt/

All other statistics brought to you by America’s Voice on Debt (AVOD)

Credit Counseling in Action for Connecticut residents

The following case studies are from real Consolidated Credit clients who live in Connecticut. This can help you get a better picture of what you can expect if you are eligible to consolidate debt through a debt management program.

My credit cards were out of control and I was having trouble keeping up with the payments. Consolidated Credit put me on a plan that made it easy. Without their help I would have ruined my credit.

Where he started:

  • Total unsecured debt: $24,249.00
  • Estimated interest charges: $14,053.59
  • Time to payoff: 14 years
  • Total monthly payments: $969.96

After DMP enrollment:

  • Average negotiated interest rate: 8.95%
  • Total interest charges: $4,566.57
  • Time to payoff: 4 years, 5 months
  • Total monthly payment: $552.00
Time Saved:
9 years, 7 months
Monthly Savings:
$417.96
Interest Saved:
$9,477.02
We are grateful to be working with an honest, reliable, and effective debt reduction company like Consolidated Credit. Their program is really working for us!

Where they started:

  • Total unsecured debt: $20,798.00
  • Estimated interest charges: $12,099.42
  • Time to payoff: 14 years, 1 months
  • Total monthly payments: $831.92

After DMP enrollment:

  • Average negotiated interest rate: 6.67%
  • Total interest charges: $2,419.63
  • Time to payoff: 4 years, 4 months
  • Total monthly payment: $453.00
Time Saved:
9 years. 9 months
Monthly Savings:
$378.92
Interest Saved:
$9,679.79
Consolidated Credit is fantastic and always makes me feel comfortable on the phone.

Where she started:

  • Total unsecured debt: $39,340.00
  • Estimated interest charges: $22,845.07
  • Time to payoff: 14 years
  • Total monthly payments: $1,573.60

After DMP enrollment:

  • Average negotiated interest rate: 8.97%
  • Total interest charges: $10,803.58
  • Time to payoff: 5 years, 5 months
  • Total monthly payment: $759.00
Time Saved:
8 years, 7 months
Monthly Savings:
$814.60
Interest Saved:
$12,041.49

"We are really proud to recommend Consolidated Credit" Kathleen Cannon, President & CEO of United Way of Broward County. Consolidated Credit Counseling Services, Inc. is pleased to announce our partnership with the United Way as a United Way Chairman’s Circle Organization.

"We are really proud to recommend Consolidated Credit" Kathleen Cannon, President & CEO of United Way of Broward County. Consolidated Credit Counseling Services, Inc. is pleased to announce our partnership with the United Way as a United Way Chairman’s Circle Organization.

All Consolidated Credit counselors are certified personal financial counselors (CFC) We've helped 5 million people get out of debt! Call us today and see what we can do for you.

Consolidated Credit is honored to receive the 2012 Excellence in Financial Literacy Education (EIFLE) Nonprofit Organization of the Year award. The EIFLE awards acknowledge innovation, dedication and the commitment of organizations that support financial literacy education worldwide. See what Consolidated Credit can do for you.

Consolidated Credit is honored to receive the 2012 Excellence in Financial Literacy Education (EIFLE) Nonprofit Organization of the Year award. The EIFLE awards acknowledge innovation, dedication and the commitment of organizations that support financial literacy education worldwide. See what Consolidated Credit can do for you.

The National Industry Standards for Homeownership Education and Counseling are a set of guidelines for quality homeownership and counseling services. Industry professionals who adopt these standards can be trusted to provide consistent, high quality advice.
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Consolidated Credit Consulting Services, Inc. has been verified as the owner or operator of the Web site located at www.consolidatedcredit.org. Official records confirm Consolidated Credit Consulting Services, Inc. as a valid business. Call us today and see what we can do for you.

Consolidated Credit is a Certified ISO 9001 company, as verified through Bureau Veritas Certification.

Time tested and customer trusted. Consolidated Credit Counseling Services has been a BBB Accredited Business since 1998 and has a current A+ rating. Call us today and see what we can do for you.

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Time tested and customer trusted. Consolidated Credit Counseling Services has been a BBB Accredited Business since 1998 and has a current A+ rating. Call us today and see what we can do for you.

View the Consolidatedcredit.org review status

Consolidated Credit is proud to be an ANAB accredited member. Accreditation by a recognized and respected body such as ANAB ensures the impartiality and competence of our company. To see what we can do for you, give us a call.

U.S. Department of Housing and Urban Development - HUD's mission is to create strong, sustainable, inclusive communities and quality affordable homes for all. Consolidated Credit is proud to be a member of HUD and also part of the Hope Now Alliance.

You can save!

With this amount of debt, you'd pay around $xx.xx on a DMP.

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