Debt Consolidation in Action: Vermont

Vermonters use consolidation to overcome challenges with debt.

When it comes to personal debt, by and large residents of Vermont take the action they need to meet challenges head-on. So for instance, while Vermonters have student debt loads higher than the national average, they default at a much lower rate than the rest of the country. Residents also have lower rates of debts that lapse into delinquency with late payments, as well as debts that go into collections.

One of the ways Vermonters with credit card debt have found to eliminate it is through credit counseling. The information below can help you understand how debt is impacting residents currently and how some have used credit counseling to find debt relief. If you’re facing your own challenges and need help, call us at or complete an online application to request a confidential debt and budget analysis from a certified credit counselor at no charge.

Debt Statistics in Vermont

The statistics below can help you understand the current state of consumer debt in Vermont:

  • Average credit card debt: $4,693 per borrower [1]
  • 90-day credit card delinquency rate: 1.03%
  • Average student debt: $27,318
  • Student loan default rate: 8.60%
  • % with past due debt (late, but not in default): 4.50%
  • % with some type of debt in collections: 23.70%
  • Average debt in collections: $4,658

[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)

Carrie from St. Johnsbury, VT

Consolidated Credit has helped me pay off my credit card debt much quicker than I had imagined. I am SO happy with the services I have received and all pleased with the way all of my questions were answered.

Where she started:

  • Total unsecured debt: $37,571.00
  • Estimated interest charges: $21,404.39
  • Time to payoff: 13 years, 5 months
  • Total monthly payments: $1,503.52

After DMP enrollment:

  • Average negotiated interest rate: 8.17%
  • Total interest charges: $6,728.90
  • Time to payoff: 4 years, 4 months
  • Total monthly payment: $857.00
Time Saved:
9 years, 1 month
Monthly Savings:
$646.52
Interest Saved:
$14,675.49