Debt Consolidation in Action: Delaware

Residents find solutions to overcome challenges with credit card debt.

Delawareans aren’t short on challenges when it comes to debt. Residents have more student debt, more homes underwater with negative equity, more delinquent credit cards, and more debts in collections than national averages, meaning they’re at higher risk for financial distress than people in other parts of the country.

The information below can help you understand how debt is currently impacting residents in Delaware, and how some are using credit counseling to find the relief they need from credit card debt. If you’re struggling, we may be able to help you find the solutions you need to regain control. Call us at or complete an online application to request a confidential debt analysis from a certified credit counselor at no charge.

Debt Statistics in Delaware

The statistics below can provide you with a general snapshot of the situation residents are currently facing with debt.

  • Average credit card debt: $5,234 per borrower [1]
  • 90-day credit card delinquency rate: 1.52%
  • Average student debt: $32,571
  • Student loan default rate: 11.50%
  • % of homes underwater (mortgage more than value): 17.75%
  • Mortgage delinquency rate for underwater homes: 8.94%
  • % with past due debt (late, but not in default): 5.30%
  • % with some type of debt in collections: 37.80%
  • Average debt in collections: $5,133

[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 Delaware residents

We’ve put together the following case study and testimonial from a real client in Delaware. If you’re facing your own challenges with debt, this can help you understand how a debt management program may be able to help you find the relief you need.

Barbara from Newark, DE

I am so happy I found Consolidated Credit! It has finally given me peace about my finances.

Where she started:

  • Total unsecured debt: $23,983.49
  • Estimated interest charges: $13,606.96
  • Time to payoff: 13 years, 5 months
  • Total monthly payments: $993.08

After DMP enrollment:

  • Average negotiated interest rate: 7.48%
  • Total interest charges: $4,260.84
  • Time to payoff: 4 years
  • Total monthly payment: $589.00
Time Saved:
9 years, 5 months
Monthly Savings:
$404.08
Interest Saved:
$9,346.12