Debt Consolidation in Action: West Virginia

Achieving stability in spite of debt challenges with credit counseling.

There is no shortage of challenges when it comes to personal debt for West Virginians. Although the state ranks 47th for average consumer credit card debt, student loan debt is higher than the national average. Residents also struggle with collections – in fact, two out of every five borrowers has at least one debt currently in collections. These kinds of challenges can make it difficult to maintain stability even with a strict budget.

Luckily, there are ways to overcome challenges with debt when traditional payment methods fail to produce results. Many residents have regained financial control with the help of credit counseling services and programs that consolidate debt. If you’re struggling and need help achieving financial freedom, call Consolidated Credit at or complete an online application to request a free debt analysis today.

Debt Statistics in West Virginia

The following statistics can help you understand the state of debt as it stands today in West Virginia. They show what situation the average borrower faces when it comes to household debt:

  • Average credit card debt: $4,315 per borrower [1]
  • 90-day credit card delinquency rate: 1.49%
  • Average student debt: $27,320
  • Student loan default rate: 18.20%
  • % of homes underwater (mortgage more than value): 10.01%
  • Mortgage delinquency rate for underwater homes: 2.84%
  • % with past due debt (late, but not in default): 5.40%
  • % with some type of debt in collections: 41.50%
  • Average debt in collections: $4,697

[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)

Daniel from Fairmont, WV

They were extremely helpful setting me up and they have been honest 100%. Consolidated Credit really helped me get my finances under control!

Where he started:

  • Total unsecured debt: $15,612.92
  • Estimated interest charges: $8,988.34
  • Time to payoff: 12 years, 1 month
  • Total monthly payments: $624.52

After DMP enrollment:

  • Average negotiated interest rate: 4.33%
  • Total interest charges: $1,489.86
  • Time to payoff: 3 years, 9 months
  • Total monthly payment: $380.00
Time Saved:
8 years, 4 months
Monthly Savings:
$244.52
Interest Saved:
$7,498.48
Kimberly from Morgantown, WV

Consolidated Credit has been wonderful for our family. We are on our way to being debt free!

Where she started:

  • Total unsecured debt: $60,470.00
  • Estimated interest charges: $35,143.93
  • Time to payoff: 14 years, 6 months
  • Total monthly payments: $2,418.80

After DMP enrollment:

  • Average negotiated interest rate: 7.67%
  • Total interest charges: $15,399.88
  • Time to payoff: 4 years, 6 months
  • Total monthly payment: $1,390.00
Time Saved:
10 years
Monthly Savings:
$1,028.80
Interest Saved:
$19,744.05