Debt Consolidation in Action: South Carolina

South Carolinians use credit counseling to address challenges with credit card debt.

Debt problems aren’t isolated to South Carolina, but residents are definitely having a harder time when it comes to certain types of debt than consumers in other parts of the country – particularly when it comes to credit card debt. South Carolinians have the 7th highest credit card debt levels in the U.S. and more past due debt and debts in collections that the national average.

As a result, many residents of South Carolina have sought solutions that will help them regain control faster than traditional payment means, including credit counseling. The information below can help you understand the state of debt in South Carolina and how some residents have used a debt management program to overcome those challenges. If you’re struggling, call us at or complete an online application to get a free debt and budget analysis from a certified credit counselor.

Debt Statistics in South Carolina

The following statistics can provide some perspective on how debt is currently impacting residents of the state:

  • Average credit card debt: $5,389 per borrower [1]
  • 90-day credit card delinquency rate: 1.58%
  • Average student debt: $29,092
  • Student loan default rate: 13.70%
  • % of homes underwater (mortgage more than value): 14.45%
  • Mortgage delinquency rate for underwater homes: 6.28%
  • % with past due debt (late, but not in default): 6.50%
  • % with some type of debt in collections: 46.20%
  • Average debt in collections: $5,606

[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)

Andres from Liberty, SC

I have peace of mind not having to worry about making all of those payments every month. Consolidated Credit takes care of all of it for me.

Where she started:

  • Total unsecured debt: $27,050.00
  • Estimated interest charges: $14,965.31
  • Time to payoff: 12 years
  • Total monthly payments: $1,082.00

After DMP enrollment:

  • Average negotiated interest rate: 5.51%
  • Total interest charges: $5,005.04
  • Time to payoff: 3 years
  • Total monthly payment: $837.00
Time Saved:
9 years
Monthly Savings:
$245.00
Interest Saved:
$9,960.27
Ara from Bishopville, SC

I have had nothing but excellent service from Consolidated Credit. Thanks for all your help.

Where she started:

  • Total unsecured debt: $21,026.00
  • Estimated interest charges: $12,109.83
  • Time to payoff: 12 years, 10 months
  • Total monthly payments: $841.04

After DMP enrollment:

  • Average negotiated interest rate: 8.05%
  • Total interest charges: $3,208.41
  • Time to payoff: 4 years, 9 months
  • Total monthly payment: $425.00
Time Saved:
8 years, 1 month
Monthly Savings:
$416.04
Interest Saved:
$8,901.42
Jonathan from Duncan, SC

Consolidated Credit has been extremely helpful in our efforts to get out of debt! Awesome help with interest rates and creating an affordable monthly payment. Startup was simple and the whole process was easy to follow through the website.

Where he started:

  • Total unsecured debt: $16,438.00
  • Estimated interest charges: $9,356.80
  • Time to payoff: 12 years, 8 months
  • Total monthly payments: $657.56

After DMP enrollment:

  • Average negotiated interest rate: 3.75%
  • Total interest charges: $1,362.43
  • Time to payoff: 4 years, 5 months
  • Total monthly payment: $341.00
Time Saved:
8 years, 3 months
Monthly Savings:
$316.56
Interest Saved:
$7,994.37