Debt Consolidation in Action: Kentucky

Finding solutions to avoid or overcome default and avoid bankruptcy.

Kentuckians have no shortage of challenges when it comes to personal debt. Statistics show almost one in every five borrowers is facing student loan default. Over 40 percent of borrowers have at least one debt in collections. And while the real estate market has recovered better in Kentucky than other parts of the country, roughly 14 out of every 100 homes has a mortgage balance that’s higher than the value of the actual property.

In spite of these challenges, many Kentuckians have found ways to overcome in order achieve financial stability and success. The information below paints a picture of debt in Kentucky and shows how some have found a way to financial freedom with the help of a credit counselor. If you’re struggling in a similar situation, call Consolidated Credit at or complete an online application to learn if a debt management program may be the solution you need, too.

Debt Statistics in Kentucky

The following statistics can help you understand the current situation Kentucky residents face when it comes to personal 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 Kentucky residents

Although every situation with debt is unique, the following success stories and case studies can help you understand how a debt management program may be able to help you overcome your own challenges with debt.

Thank you for helping me see it was possible to climb out of such a bad situation.

Where he started:

  • Total unsecured debt: $10,016.00
  • Estimated interest charges: $5,503.89
  • Time to payoff: 11 years, 5 months
  • Total monthly payments: $400.64

After DMP enrollment:

  • Average negotiated interest rate: 8.37%
  • Total interest charges: $1,221.17
  • Time to payoff: 4 years, 2 months
  • Total monthly payment: $220.00
Time Saved:
7 years, 3 months
Monthly Savings:
$180.64
Interest Saved:
$4,282.72
This is such a great service! I’d recommend it to anyone.

Where she started:

  • Total unsecured debt: $17,850.00
  • Estimated interest charges: $10,330.64
  • Time to payoff: 12 years, 6 months
  • Total monthly payments: $714.00

After DMP enrollment:

  • Average negotiated interest rate: 8.67%
  • Total interest charges: $5,805.11
  • Time to payoff: 5 years, 6 months
  • Total monthly payment: $357.00
Time Saved:
7 years
Monthly Savings:
$357.00
Interest Saved:
$4,525.53
I contacted Consolidated Credit to help with paying off my credit cards. The rep that helped me was absolutely amazing – so helpful and very understanding.

Where she started:

  • Total unsecured debt: $4,740.00
  • Estimated interest charges: $2,464.58
  • Time to payoff: 8 years, 4 months
  • Total monthly payments: $189.60

After DMP enrollment:

  • Average negotiated interest rate: 1.93%
  • Total interest charges: $222.56
  • Time to payoff: 4 years, 11 months
  • Total monthly payment: $88.00
Time Saved:
3 years, 5 months
Monthly Savings:
$101.60
Interest Saved:
$2,242.02

"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.
Click here to learn more.

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.

View the Consolidatedcredit.org review status

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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