Debt Consolidation in Action: Arizona

The state of debt in Arizona and how residents are taking control.

Challenges with personal debt are hitting Arizonans where it hurts – the bottom line of their budgets. Nearly one in five residents are facing federal student loan default and another 19% are struggling to overcome underwater mortgages where the home is worth less than the remaining balance owed. In spite of that uphill battle though, Arizona borrowers are fighting back and taking control.

The information below is designed to help you understand how debt is impacting you and your neighbors in Arizona. If you’re facing your own personal battle with debt, we can help. Call Consolidated Credit today at or complete an online application to request a free debt and budget evaluation with a certified credit counselor.

Debt Statistics in Arizona

Below is a quick look at how debt is affecting borrowers in Arizona. It’s good to note that the credit card debt balance below puts Arizona 19th for high balances in the U.S. and is over the national average of $4,965.

  • Average credit card debt: $5,011 per borrower [1]
  • 90-day credit card delinquency rate: 1.48%
  • Average student debt: $22,253
  • Student loan default rate: 18.40%
  • % of homes underwater (mortgage more than value): 19.97%
  • Mortgage delinquency rate for underwater homes: 3.35%
  • Average debt in collections: $6,224

[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)

Michelle from Chandler, AZ

The customer service agents are SOOO helpful and professional. Thanks so much for all your help!

Where she started:

  • Total unsecured debt: $25,685.00
  • Estimated interest charges: $14,652.28
  • Time to payoff: 12 years, 7 months
  • Total monthly payments: $1,027.40

After DMP enrollment:

  • Average negotiated interest rate: 6.83%
  • Total interest charges: $2,805.79
  • Time to payoff: 3 years, 4 months
  • Total monthly payment: $651.00
Time Saved:
9 years, 3 months
Monthly Savings:
$376.40
Interest Saved:
$11,846.49
Patricia from Tuscon, AZ

Everyone has been understanding, compassionate, professional, accommodating… just amazingly helpful.

Where she started:

  • Total unsecured debt: $21,019.00
  • Estimated interest charges: $11,599.74
  • Time to payoff: 11 years, 2 months
  • Total monthly payments: $840.76

After DMP enrollment:

  • Average negotiated interest rate: 5.00%
  • Total interest charges: $2,510.55
  • Time to payoff: 3 years, 6 months
  • Total monthly payment: $513.00
Time Saved:
7 years, 8 months
Monthly Savings:
$327.76
Interest Saved:
$9,089.19
Teresita from San Luis, AZ

After a couple of weeks the calls from my creditors stopped. I have been in peace for the last two years thanks to this. I recommend it 100%.

Where she started:

  • Total unsecured debt: $14,216.00
  • Estimated interest charges: $7,644.24
  • Time to payoff: 11 years
  • Total monthly payments: $361.92

After DMP enrollment:

  • Average negotiated interest rate: 7.29%
  • Total interest charges: $1,616.21
  • Time to payoff: 4 years
  • Total monthly payment: $309.00
Time Saved:
7 years
Monthly Savings:
$52.92
Interest Saved:
$6,028.02