Debt Consolidation in Action: Mississippi

Finding solutions to avoid delinquency, debt collections and bankruptcy.

Residents in Mississippi have no shortage of challenges when it comes to debt. Student loan balances are higher than the national average with a default rate over 16 percent. Almost half of residents have at least one debt in collections, and one in every fifty borrowers has a credit card that’s gone more than three months without a payment.

It’s a tough situation, but savvy borrowers are finding ways to overcome these challenges, such as using debt consolidation to solve issues with credit card debt. If you’re struggling to overcome your own challenges with debt, we can help.  Call Consolidated Credit today at or fill out an online application to request a free debt and budget analysis.

Debt Statistics in Mississippi

The statistics below can help you understand the current situation with household debt that families in Mississippi face today.

  • Average credit card debt: $4,594 per borrower [1]
  • 90-day credit card delinquency rate: 1.96%
  • Average student debt: $27,571
  • Student loan default rate: 16.30%
  • % of homes underwater (mortgage more than value): 17.25%
  • Mortgage delinquency rate for underwater homes: 4.95%
  • % with past due debt (late, but not in default): 7.20%
  • % with some type of debt in collections: 44.70%
  • Average debt in collections: $4,413

[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)

Shawn from Biloxi, MS

Excellent customer service. They really work to help you and when asked questions customer service takes time to explain.

Where he started:

  • Total unsecured debt: $23,544.00
  • Estimated interest charges: $13,620.85
  • Time to payoff: 14 years, 3 months
  • Total monthly payments: $941.76

After DMP enrollment:

  • Average negotiated interest rate: 10.63%
  • Total interest charges: $3,578.86
  • Time to payoff: 3 years, 9 months
  • Total monthly payment: $600.00
Time Saved:
10 years, 6 months
Monthly Savings:
$341.76
Interest Saved:
$10,041.69
Thomas from Verona, MS

We wished we had found your company and done this years ago! It’s a great service and we can’t say Thank You enough.

Where they started:

  • Total unsecured debt: $16,600.00
  • Estimated interest charges: $9,580.53
  • Time to payoff: 12 years, 1 month
  • Total monthly payments: $664.00

After DMP enrollment:

  • Average negotiated interest rate: 10.43%
  • Total interest charges: $4,194.84
  • Time to payoff: 4 years, 2 months
  • Total monthly payment: $418.00
Time Saved:
7 years, 11 months
Monthly Savings:
$246.00
Interest Saved:
$5,385.69
Verna from Olive Branch, MS

We could have never gotten out of debt without Consolidated Credit. Our monthly income is still tight, but now we’ll be able to breathe and even retire. They gave us excellent service and saved us thousands.

Where they started:

  • Total unsecured debt: $55,785.00
  • Estimated interest charges: $32,712.16
  • Time to payoff: 14 years, 7 months
  • Total monthly payments: $2,231.40

After DMP enrollment:

  • Average negotiated interest rate: 8.55%
  • Total interest charges: $10,175.19
  • Time to payoff: 4 years, 4 months
  • Total monthly payment: $1,272.00
Time Saved:
8 years, 4 months
Monthly Savings:
$959.40
Interest Saved:
$22,536.97