Debt Consolidation in Action: Virginia

Credit counseling helps Virginians overcome credit card debt challenges.

Virginians have an interesting relationship with debt. Statistically, Virginians have higher than average student loan debt, rank tenth in high credit card balances, and have more homes that are underwater because the mortgage balances are higher than home values. Yet in spite of these challenges, they have lower percentages of debts that are past due and in collections.

The information below can help you understand the financial impact of debt on Virginia residents and how some are using credit counseling to find solutions. If you’re facing your own issues, call us at or complete an online application to request a free debt and budget analysis from a certified credit counselor.

Debt Statistics in Virginia

The following statistics provide a snapshot of the current state of debt in Virginia:

  • Average credit card debt: $5,329 per borrower [1]
  • 90-day credit card delinquency rate: 1.33%
  • Average student debt: $25,780
  • Student loan default rate: 10.00%
  • % of homes underwater (mortgage more than value): 16.74%
  • Mortgage delinquency rate for underwater homes: 3.66%
  • % with past due debt (late, but not in default): 4.40%
  • % with some type of debt in collections: 31.70%
  • Average debt in collections: $4,976

[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)

Justin from Charlottesville, VA

Consolidated Credit has been instrumental in my recovery from debt and mistakes I made in the past. These folks are helpful and now my debt is almost gone!

Where he started:

  • Total unsecured debt: $15,578.00
  • Estimated interest charges: $8,467.97
  • Time to payoff: 12 years, 9 months
  • Total monthly payments: $626.28

After DMP enrollment:

  • Average negotiated interest rate: 9.20%
  • Total interest charges: $2,944.22
  • Time to payoff: 3 years, 10 months
  • Total monthly payment: $402.00
Time Saved:
8 years, 11 months
Monthly Savings:
$224.28
Interest Saved:
$5,523.75
Maria from Lorton, VA

If not for your persistence, I probably still wouldn’t be sleeping at night. It was hard at first, but when 2 or 3 of my credit cards were paid off it was an awesome feeling. Quick response and always there to assist. Thanks!

Where she started:

  • Total unsecured debt: $39,179.00
  • Estimated interest charges: $22,369.05
  • Time to payoff: 14 years, 3 months
  • Total monthly payments: $1,567.16

After DMP enrollment:

  • Average negotiated interest rate: 5.11%
  • Total interest charges: $1,920.78
  • Time to payoff: 4 years, 4 months
  • Total monthly payment: $798.00
Time Saved:
9 years, 11 months
Monthly Savings:
$769.16
Interest Saved:
$20,448.27
Patricia from Virginia Beach, VA

It feels so good to have someone here to help me get my credit and my life back on track.

Where she started:

  • Total unsecured debt: $14,931.00
  • Estimated interest charges: $8,062.30
  • Time to payoff: 10 years, 6 months
  • Total monthly payments: $596.52

After DMP enrollment:

  • Average negotiated interest rate: 4.79%
  • Total interest charges: $1,990.03
  • Time to payoff: 4 years, 7 months
  • Total monthly payment: $309.00
Time Saved:
5 years, 11 months
Monthly Savings:
$287.52
Interest Saved:
$6,072.27