Debt Consolidation in Action: New York

Learn how we’ve helped your fellow New Yorkers overcome debt problems.

No two people have the same experience with debt, but where you live DOES have an impact on your ability to manage your money and address challenges you may face every day. From the income you’re able to earn where you live to the state of the real estate market around you, there are plenty of factors that affect your ability to manage debt based on your state or region.

The information below is designed to help you understand what situation New Yorkers are facing with debt today. We’ve helped thousands of your neighbors get the help they need. Now we’re here to help you. Call or ask for help now through our online application.

Debt statistics in New York

The following statistics can give you a better idea of how New Yorkers are handling debt in today’s economy:

  • Average credit card debt: $4,952 per borrower[1]
  • 90-day credit card delinquency rate: 1.45%
  • Average student debt: $26,381
  • Student loan default rate: 10.10%
  • % of homes underwater (mortgage more than value): 11.47%
  • Mortgage delinquency rate for underwater homes: 13.53%
  • Average debt in collections: $5,147

[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)

Carole from Esperance, NY

A close family member highly recommended your services, and now so would I. You helped to make going through an unpleasant financial situation less embarrassing.

Where she started:

  • Total unsecured debt: $16,500.00
  • Estimated interest charges: $9,141.04
  • Time to payoff: 11 years, 11 months
  • Total monthly payments: $660.00

After DMP enrollment:

  • Average negotiated interest rate: 9.33%
  • Total interest charges: $2,818.04
  • Time to payoff: 4 years, 3 months
  • Total monthly payment: $375.00
Time Saved:
7 years, 8 months
Monthly Savings:
$285.00
Interest Saved:
$6,323.00
Christopher from New York , NY

Consolidated Credit helped me get out of debt fast. Their customer service reps are very friendly and understanding. Their debt management program is the best.

Where he started:

  • Total unsecured debt: $26,505.00
  • Estimated interest charges: $15,396.98
  • Time to payoff: 13 years, 10 months
  • Total monthly payments: $1,060.20

After DMP enrollment:

  • Average negotiated interest rate: 7.50%
  • Total interest charges: $4,592.62
  • Time to payoff: 4 years, 2 months
  • Total monthly payment: $607.00
Time Saved:
9 years, 6 months
Monthly Savings:
$677.48
Interest Saved:
$16,901.60
Kevin from Montgomery, NY

I’ve been very satisfied with Consolidated Credit. The representatives are very professional every time I call. I would strongly recommend them to anyone with substantial debt.

Where he started:

  • Total unsecured debt: $12,385.00
  • Estimated interest charges: $6,798.39
  • Time to payoff: 11 years
  • Total monthly payments: $495.40

After DMP enrollment:

  • Average negotiated interest rate: 4.20%
  • Total interest charges: $667.44
  • Time to payoff: 2 years 6 months
  • Total monthly payment: $440.00
Time Saved:
8 years, 6 months
Monthly Savings:
$55.40
Interest Saved:
$6,130.95