Debt Consolidation in Action: North Carolina

Using credit counseling to find relief from credit card debt.

Statically, North Carolinas have maintained a good handle on personal debt during the years following the Great Recession. Residents have lower than average student loan balances, fewer homes in foreclosure and less debt in collections than what can be found in other parts of country. That’s not to say North Carolinians don’t have problems with debt, but they tend to be highly proactive about finding solutions before things get completely out of control.

The information helps paint a picture of debt today in North Carolina and provides real stories of how some residents have found relief with the help of Consolidated Credit. If you’re faced with your own challenges and need help, call Consolidated Credit at or complete an online application to request a free, confidential debt analysis from a certified credit counselor.

Debt Statistics in North Carolina

These statistics can help you understand the bigger picture when it comes to household debt for the average North Carolina family:

  • Average credit card debt: $5,548 per borrower [1]
  • 90-day credit card delinquency rate: 1.60%
  • Average student debt: $24,319
  • Student loan default rate: 12.40%
  • % of homes underwater (mortgage more than value): 14.86%
  • Mortgage delinquency rate for underwater homes: 4.85%
  • % with past due debt (late, but not in default): 4.00%
  • % with some type of debt in collections: 40.30%
  • Average debt in collections: $4,280

[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)

Ray from Greensboro, NC

Keep up the good work! Consolidated Credit has been very helpful in helping get my balances down. They were there for me when I need help.

Where he started:

  • Total unsecured debt: $5,617.39
  • Estimated interest charges: $2,737.78
  • Time to payoff: 8 years, 5 months
  • Total monthly payments: $224.70

After DMP enrollment:

  • Average negotiated interest rate: 4.80%
  • Total interest charges: $156.61
  • Time to payoff: 2 years, 7 months
  • Total monthly payment: $187.00
Time Saved:
5 years, 10 months
Monthly Savings:
$37.70
Interest Saved:
$2,581.17
Shirley from Mooresville, NC

They are wonderful people to deal with, always helpful.

Where she started:

  • Total unsecured debt: $15,725.00
  • Estimated interest charges: $8,423.33
  • Time to payoff: 10 years, 9 months
  • Total monthly payments: $629.00

After DMP enrollment:

  • Average negotiated interest rate: 5.85%
  • Total interest charges: $1,697.27
  • Time to payoff: 4 years, 2 months
  • Total monthly payment: $348.00
Time Saved:
6 years, 7 months
Monthly Savings:
$281.00
Interest Saved:
$6,726.06
Suzanne from Charlotte, NC

Consolidated Credit has helped me get my credit card debt under control. They’ve been professional and easy to work with from the first call. I high recommend them to anyone needing help and relief from debt.

Where she started:

  • Total unsecured debt: $25,781.00
  • Estimated interest charges: $15,215.62
  • Time to payoff: 15 years, 3 months
  • Total monthly payments: $1,031.24

After DMP enrollment:

  • Average negotiated interest rate: 5.00%
  • Total interest charges: $2,828.02
  • Time to payoff: 4 years, 10 months
  • Total monthly payment: $494.00
Time Saved:
10 years, 5 months
Monthly Savings:
$537.24
Interest Saved:
$12,387.60