Debt Consolidation in Action: Alaska

High-balance debt presents challenges for financial stability.

You might not expect it, but Alaska residents face some of worst situations with personal debt than residents of any other state in the nation. At last count according to the most recent data, Alaskans have the highest credit card balances in the country. They also have higher the average student loan debt and more debt in collections. All of these debts present a significant challenge to maintaining financial stability.

In spite of these challenges, Alaskans are finding ways to overcome and achieve success. Many have found relief by exploring alternative options for debt elimination, such as debt consolidation with the help of a certified credit counselor. If you’re working to eliminate debt and need help, call Consolidated Credit today at or fill out an online application to request a free and confidential debt analysis to explore your options.

Debt Statistics in Alaska

These statistics can provide some perspective on the situation Alaskans currently face when it comes to credit cards and other types of personal debt:

  • Average credit card debt: $6,910 [1]
  • 90-day credit card delinquency rate: 1.21%
  • Average student debt: $28,570
  • Student loan default rate: 13.60%
  • % of homes underwater (mortgage more than value): 13.73%
  • Mortgage delinquency rate for underwater homes: 1.61%
  • % with past due debt (late, but not in default): 5.40%
  • % with some type of debt in collections: 33.10%
  • Average debt in collections: $6,443

[1] https://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)

Bobby from Pangburn, AK

This has been a very good, professional solution to our problem. Everything was handled in a timely fashion and the results have been outstanding. I sincerely believe you cannot find any service that can compare with them.

Where he started:

  • Total unsecured debt: $28,814.34
  • Estimated interest charges: $16,023.73
  • Time to payoff: 14 years, 1 month
  • Total monthly payments: $1,152.57

After DMP enrollment:

  • Average negotiated interest rate: 11.28%
  • Total interest charges: $3,745.65
  • Time to payoff: 2 years, 9 months
  • Total monthly payment: $992.00
Time Saved:
11 years, 4 months
Monthly Savings:
$106.57
Interest Saved:
$12,278.08
Christopher from Palmer, AK

The service has been great so far. Thanks!

Where he started:

  • Total unsecured debt: $24,111.00
  • Estimated interest charges: $13,201.86
  • Time to payoff: 12 years, 6 months
  • Total monthly payments: $964.44

After DMP enrollment:

  • Average negotiated interest rate: 7.93%
  • Total interest charges: $4,675.67
  • Time to payoff: 4 years, 6 months
  • Total monthly payment: $540.00
Time Saved:
8 years
Monthly Savings:
$424.44
Interest Saved:
$8,526.19
Lacey from North Pole, AK

My husband and I only have 2 more payments and we’ll be debt free! Best decision ever! Thank you!

Where she started:

  • Total unsecured debt: $12,787.00
  • Estimated interest charges: $6,786.92
  • Time to payoff: 10 years, 9 months
  • Total monthly payments: $511.48

After DMP enrollment:

  • Average negotiated interest rate: 9.83%
  • Total interest charges: $3,128.92
  • Time to payoff: 3 years, 6 months
  • Total monthly payment: $367.00
Time Saved:
7 years, 3 months
Monthly Savings:
$144.48
Interest Saved:
$3,658.00