Debt Consolidation in Action: District of Columbia

Residents in our nation’s capital face a tough battle with debt.

DC residents are faced with some major challenges when it comes to personal finance and debt. Home prices are higher, student debt is bigger and even average credit card debt levels put DC residents in the top five places for personal debt in the U.S. – so if you live in DC then chances are good that you may be facing at least a few challenges with debt in your life today.

The information below is designed to help you understand how debt affects residents in DC and how credit counseling has been shown to help some residents find relief from credit card debt. If you’re facing challenges with debt, call Consolidated Credit at or complete our online application to request a free, confidential debt evaluation from a certified credit counselor.

Debt Statistics in the District of Columbia

Here’s a quick look at the state of debt in DC today:

  • Average credit card debt: $5,499 [1]
  • Average student debt: $40,885 [2]
  • Average closed home loan amount: $393,453 [3]
  • Average monthly mortgage payment: $1,641 [4]
  • Average total debt: $65.532 [5]
  • % that is mortgage debt: 75.7% [5]
  • % of debt in collections: 41.8% [5]

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

[2] https://blogs.wsj.com/economics/2015/03/10/the-average-student-debt-load-in-d-c-is-a-whopping-40885/

[3] https://marketing.lendingtree.com/pr/average_closed_home_loan_amount.pdf

[4] https://www.bizjournals.com/seattle/news/2012/11/27/wash-state-ranks-9th-highest-average.html

[5] https://www.usatoday.com/story/money/personalfinance/2014/07/29/america-debt-loads/13152651/

Althea H. from Washington DC

My interest rates were too high – 16, 17, 18 percent. Consolidated Credit was able to lower my rates to a point where my payments now go toward the principal so I can finally get out of debt. My credit score is going up, too! It was around 650 before but now it’s close to 700.

Where she started:

  • Total unsecured debt: $18,601.00
  • Estimated interest charges: $10,654.62
  • Time to payoff: 13 years, 8 months
  • Total monthly payments: $744.04

After DMP enrollment:

  • Average negotiated interest rate: 8.50%
  • Total interest charges: $3,680.08
  • Time to payoff: 4 years, 9 months
  • Total monthly payment: $390.00
Time Saved:
8 years, 11 months
Monthly Savings:
$354.04
Interest Saved:
$6,974.54