Debt Consolidation in Action: Massachusetts

Learn how debt is impacting your state and how your neighbors are fighting back.

Personal credit card debt problems aren’t unique to Massachusetts, but residents do face an uphill battle when it comes to debt elimination. Recent data ranks Masschusetts 16th for the highest balances per borrower in the nation, which means residents have some work to do if they want to achieve and maintain financial stability.

The information below can help you understand how debt is impacting people in your state, as well as how credit counseling has helped some to overcome those challenges. If you’re facing an uphill battle with high-balance debt, call us at or complete an online application to request a free confidential debt evaluation from a certified credit counselor.

Debt statistics in Massachusetts

The data below can help you understand the big picture Massachusetts residents face with debt in today’s economy.

  • Average credit card debt: $5,142 per borrower[1]
  • 90-day credit card delinquency rate: 1.20%
  • Average student debt: $28,565
  • Student loan default rate: 8.10%
  • % of homes underwater (mortgage more than value): 9.95%
  • Mortgage delinquency rate for underwater homes: 8.25%
  • Average debt in collections: $4,602

[1] https://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)

Anthony from Charlton, MA

Any issue that has come up has been taken care of ASAP. It’s amazing that we’ve paid of $70,000 of our debt in 4 years! Thanks for the help!

Where he started:

  • Total unsecured debt: $99,753.00
  • Estimated interest charges: $58,713.66
  • Time to payoff: 15 years, 9 months
  • Total monthly payments: $3,990.12

After DMP enrollment:

  • Average negotiated interest rate: 7.20%
  • Total interest charges: $14,997.58
  • Time to payoff: 4 years, 7 months
  • Total monthly payment: $2,089.00
Time Saved:
11 years, 2 months
Monthly Savings:
$1,901.12
Interest Saved:
$43,716.08
Kelly from Worcester, MA

Consolidated Credit has turned my life around!!! With one last payment left, I will finally be debt free!!

Where she started:

  • Total unsecured debt: $21,094.00
  • Estimated interest charges: $11,897.64
  • Time to payoff: 12 years
  • Total monthly payments: $843.76

After DMP enrollment:

  • Average negotiated interest rate: 3.32%
  • Total interest charges: $1,347.91
  • Time to payoff: 4 years, 7 months
  • Total monthly payment: $408.00
Time Saved:
7 years, 5 months
Monthly Savings:
$435.76
Interest Saved:
$10,549.73
Lyle from Wilbraham, MA

Consolidated Credit has been very helpful to us. It’s a great feeling paying down our debt.

Where he started:

  • Total unsecured debt: $30,053.00
  • Estimated interest charges: $17,297.09
  • Time to payoff: 15 years, 1 month
  • Total monthly payments: $1,208.24

After DMP enrollment:

  • Total interest charges: $8,906.05
  • Time to payoff: 4 years, 5 months
  • Total monthly payment: $746.00
Time Saved:
10 years, 8 months
Monthly Savings:
$462.24
Interest Saved:
$8,391.04