Debt Consolidation in Action: Virgin Islands

Overcoming challenges with debt in spite of limited income.

Residents in the U.S. Virgin Islands have no shortage of challenges when it comes to debt. Unemployment rates are high and even for those who have a job, median earnings and household income levels are significantly lower than in the continental United States. Yet residents still face the same problems with debt that other U.S. citizens face, so as a result nearly one in three families is living in poverty.

The information below is designed to help you understand the average financial situation in the U.S., as well as how some residents are using credit counseling to overcome their personal challenges with debt. If you’re struggling to eliminate debt and you need help, call Consolidated Credit at or fill out an online application to request a free, confidential debt evaluation from a certified credit counselor.

Personal Finance Statistics for the U.S. Virgin Islands

Here’s a quick look at the state of debt in Virgin Islands today:

  • Average student debt: $31,844 [1]†
  • Unemployment rate: 8.6% [2]
  • Median earnings: $27,408 (male), $22,081 (female) [2]
  • Median household income: $24,704 [2]
  • Poverty rate: 32.5% [2]

[1] http://blogs.wsj.com/economics/2015/03/10/the-average-student-debt-load-in-d-c-is-a-whopping-40885/

[2] https://www.census.gov/prod/cen2000/phc-4-vi.pdf

† Combined with other U.S. territories

Janet G. from St. Thomas, VI

I am very satisfied with the services that Consolidated Credit provided. In fact in some ways you saved my finances and I’m very grateful!

Where she started:

  • Total unsecured debt: $18,636.00
  • Estimated interest charges: $11,055.04
  • Time to payoff: 15 years, 6 months
  • Total monthly payments: $745.44

After DMP enrollment:

  • Average negotiated interest rate: 9.90%
  • Total interest charges: $4,493.81
  • Time to payoff: 4 years, 6 months
  • Total monthly payment: $432.00
Time Saved:
11 years
Monthly Savings:
$313.44
Interest Saved:
$6,561.23
Lorien P. from St. Croix, VI

The program has mostly been a hit. It was easy to set up and you have great communication! Friendly and helpful.

Where she started:

  • Total unsecured debt: $42,999.00
  • Estimated interest charges: $25,419.84
  • Time to payoff: 15 years, 11 months
  • Total monthly payments: $1,719.96

After DMP enrollment:

  • Average negotiated interest rate: 3.00%
  • Total interest charges: $1,395.16
  • Time to payoff: 5 years, 6 months
  • Total monthly payment: $618.00
Time Saved:
10 years, 5 months
Monthly Savings:
$1,038.96
Interest Saved:
$24,024.68