Debt Consolidation in Action: Indiana

See how other Indianans are overcoming challenges with debt.

Indianans aren’t short on challenges when it comes to debt. They have higher than average student loan debt loads, as well as a higher rate of credit card delinquency and a greater percentage of debts in collections. Still many residents are finding ways to overcome these issues, including with the use of debt management programs through a credit counseling agency.

The information below can help give you a big-picture view of debt in Indiana. We’ve also provided some case studies from clients we’ve helped who live in your state. If you’re struggling with debt, see how we’ve helped your neighbors to help you decide if you could use our help. If so, call Consolidated Credit today at or complete an online application to request a free debt analysis from a certified credit counselor.

Debt Statistics in Indiana

We’ve compiled the following statistics to help you understand the state of debt in Indiana today:

  • Average credit card debt: $4,577 per borrower [1]
  • 90-day credit card delinquency rate: 1.31%
  • Average student debt: $28,466
  • Student loan default rate: 15.50%
  • % of homes underwater (mortgage more than value): 17.54%
  • Mortgage delinquency rate for underwater homes: 4.64%
  • % with past due debt (late, but not in default): 4.90%
  • % with some type of debt in collections: 35.50%
  • Average debt in collections: $4,846

[1] http://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)

Misty from Oolitic, IN

I absolutely LOVE Consolidated Credit! They have helped me dig out of a debt hole!! Thank you!!!

Where he started:

  • Total unsecured debt: $10,585.00
  • Estimated interest charges: $5,500.56
  • Time to payoff: 9 years, 4 months
  • Total monthly payments: $430.80

After DMP enrollment:

  • Average negotiated interest rate: 1.41%
  • Total interest charges: $48.69
  • Time to payoff: 4 years, 4 months
  • Total monthly payment: $205.00
Time Saved:
5 years
Monthly Savings:
$225.80
Interest Saved:
$5,451.87
Patricia from Wadesville, IN

Very knowledgeable and helpful. Excellent team! Creative with solutions. Thank you, thank you, thank you!!!

Where she started:

  • Total unsecured debt: $45,630.00
  • Estimated interest charges: $26,919.11
  • Time to payoff: 14 years, 11 months
  • Total monthly payments: $1,825.20

After DMP enrollment:

  • Average negotiated interest rate: 6.27%
  • Total interest charges: $3,650.30
  • Time to payoff: 4 years, 1 months
  • Total monthly payment: $1,006.00
Time Saved:
10 years, 10 months
Monthly Savings:
$819.20
Interest Saved:
$22,968.81
Sherron from Indianapolis, IN

My experience with Consolidated Credit was wonderful. They were always helpful when I called and accommodated me if there was an issue. I would and have recommended them to my family and friends.

Where she started:

  • Total unsecured debt: $50,839.00
  • Estimated interest charges: $29,618.18
  • Time to payoff: 14 years, 6 months
  • Total monthly payments: $2,033.56

After DMP enrollment:

  • Average negotiated interest rate: 8.20%
  • Total interest charges: $7,513.52
  • Time to payoff: 4 years
  • Total monthly payment: $1,219.00
Time Saved:
10 years, 6 months
Monthly Savings:
$814.56
Interest Saved:
$22,104.66