Debt Consolidation in Action: Minnesota

Learn how debt is affecting Minnesotans and how credit counseling may help you find relief.

Although Minnesotans face similar challenges with debt that consumers face in other parts of the country, by and large they’re facing those challenges head-on to successfully overcome problems with debt. For example, statistics show less than one percent of credit card users are behind on payments, even though Minnesotans’ debt levels are close to the national average of $4,965 per borrower. And even though almost 14 percent of homeowners face challenges with underwater homes and negative equity, only 3 percent of those owners are behind on their mortgage payments.

If you’re struggling with debt and working to regain control, we may be able to help. Call Consolidated Credit at or complete an online application to request a free confidential debt evaluation from a certified credit counselor. With the right plan, you can face financial adversity, too, and regain control.

Debt statistics in Minnesota

Here’s a quick look at how debt is affecting you and your neighbors in Minnesota.

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

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

Credit Counseling in Action for Minnesota residents

Want to know what you can expect if you qualify for enrollment in a debt management program to consolidate your debt? Below are three success stories from real clients from Minnesota who we’ve been able to help.

This program has been such a great help. Thanks Consolidated!

Where she started:

  • Total unsecured debt: $18,090.00
  • Estimated interest charges: $9,867.62
  • Time to payoff: 11 years, 2 months
  • Total monthly payments: $732.00

After DMP enrollment:

  • Average negotiated interest rate: 5.05%
  • Total interest charges: $1,049.95
  • Time to payoff: 4 years, 2 months
  • Total monthly payment: $383.00
Time Saved:
7 years
Monthly Savings:
$349.20
Interest Saved:
$8,817.67
Consolidated Credit helped us to see a light at the end of the tunnel, when we had no hope left. Thank you!

Where they started:

  • Total unsecured debt: $48,498.00
  • Estimated interest charges: $27,960.42
  • Time to payoff: 14 years, 7 months
  • Total monthly payments: $1,939.92

After DMP enrollment:

  • Average negotiated interest rate: 3.58%
  • Total interest charges: $5,996.46
  • Time to payoff: 4 years, 4 months
  • Total monthly payment: $1,042.00
Time Saved:
10 years, 3 months
Monthly Savings:
$897.92
Interest Saved:
$21,963.96
I called customer service and within minutes all of my questions were answered. I feel so much better now knowing I have a plan to get out of debt.

Where she started:

  • Total unsecured debt: $32,456.00
  • Estimated interest charges: $18,967.65
  • Time to payoff: 16 years
  • Total monthly payments: $1,298.24

After DMP enrollment:

  • Average negotiated interest rate: 7.29%
  • Total interest charges: $6,729.64
  • Time to payoff: 4 years, 5 months
  • Total monthly payment: $738.00
Time Saved:
11 years, 7 months
Monthly Savings:
$560.24
Interest Saved:
$12,238.01

"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.

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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