Debt Consolidation in Action: Missouri

Take a look at the state of debt in Missouri and the impact of credit counseling.

Missourians have an interesting relationship with debt following the Great Recession. For instance, the real estate market collapse left one in five homeowners with an underwater mortgage – where the home is worth less than the balance owed to the lender – but 97% of those homeowners have still managed to stay ahead of their payments. The situation is similar with student loans and credit card debt – Missouri borrowers showing great resilience in the face of incredible odds.

The information on this page is designed to help you understand the state of debt in Missouri and how some residents are using credit counseling to find the solutions they need. If you’re working to regain financial control and need some help, call Consolidated Credit today at or complete an online application to request a free debt and budget evaluation from a certified credit counselor.

Debt Statistics in Missouri

The following stats can help you understand the situation people in Missouri currently face when it comes to personal debt:

  • Average credit card debt: $4,796 per borrower [1]
  • 90-day credit card delinquency rate: 1.32%
  • Average student debt: $25,375
  • Student loan default rate: 12.60%
  • % of homes underwater (mortgage more than value): 20.24%
  • Mortgage delinquency rate for underwater homes: 3.31%
  • Average debt in collections: $5,805

[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)

Cheryl from Fallon, MO

Consolidated Credit has helped me get rid of all the bills that have accumulated over the years. I can’t thank you enough!

Where she started:

  • Total unsecured debt: $99,162.00
  • Estimated interest charges: $58,738.00
  • Time to payoff: 17 years
  • Total monthly payments: $3,966.48

After DMP enrollment:

  • Average negotiated interest rate: 5.18%
  • Total interest charges: $16,348.07
  • Time to payoff: 4 years, 5 months
  • Total monthly payment: $2,084.00
Time Saved:
12 years, 7 months
Monthly Savings:
$1,882.48
Interest Saved:
$42,390.17
Gerald from Fallon, MO

This program has reduced my interest rate and I can already see my payments making an impact.

Where he started:

  • Total unsecured debt: $29,318.00
  • Estimated interest charges: $17,211.27
  • Time to payoff: 15 years, 1 month
  • Total monthly payments: $1,172.72

After DMP enrollment:

  • Average negotiated interest rate: 7.33%
  • Total interest charges: $4,970.42
  • Time to payoff: 4 years, 2 months
  • Total monthly payment: $645.00
Time Saved:
10 years, 11 months
Monthly Savings:
$527.72
Interest Saved:
$12,240.85
Linda from Kansas City, MO

Consolidated Credit has been awesome! No worries, no fret. Thank you so much for being there for my family!

Where she started:

  • Total unsecured debt: $41,689.00
  • Estimated interest charges: $24,381.00
  • Time to payoff: 14 years, 7 months
  • Total monthly payments: $1,667.56

After DMP enrollment:

  • Average negotiated interest rate: 5.46%
  • Total interest charges: $3,258.75
  • Time to payoff: 4 years
  • Total monthly payment: $892.00
Time Saved:
10 years, 7 months
Monthly Savings:
$775.56
Interest Saved:
$21,122.25