Debt Consolidation in Action: Arizona
The state of debt in Arizona and how residents are taking control.
Challenges with personal debt are hitting Arizonans where it hurts – the bottom line of their budgets. Nearly one in five residents are facing federal student loan default and another 19% are struggling to overcome underwater mortgages where the home is worth less than the remaining balance owed. In spite of that uphill battle though, Arizona borrowers are fighting back and taking control.
The information below is designed to help you understand how debt is impacting you and your neighbors in Arizona. If you’re facing your own personal battle with debt, we can help. Call Consolidated Credit today at or complete an online application to request a free debt and budget evaluation with a certified credit counselor.
Debt Statistics in Arizona
Below is a quick look at how debt is affecting borrowers in Arizona. It’s good to note that the credit card debt balance below puts Arizona 19th for high balances in the U.S. and is over the national average of $4,965.
- Average credit card debt per household: $7,100 [1]
- Average available credit limit: $16,366 [2]
- Credit utilization ratio (debt vs available limit): 35.64% [2]
- Average number of cards: 3.04 [3]
- % of accounts that are delinquent (at least 90 days past due): 9.54% [4]
- Average credit score: 669 [3]
- Most popular type of credit card: Balance transfer [5]
Michelle from Chandler, AZThe customer service agents are SOOO helpful and professional. Thanks so much for all your help!
Where she started:
- Total unsecured debt: $25,685.00
- Estimated interest charges: $14,652.28
- Time to payoff: 12 years, 7 months
- Total monthly payments: $1,027.40
After DMP enrollment:
- Average negotiated interest rate: 6.83%
- Total interest charges: $2,805.79
- Time to payoff: 3 years, 4 months
- Total monthly payment: $651.00
Patricia from Tuscon, AZEveryone has been understanding, compassionate, professional, accommodating… just amazingly helpful.
Where she started:
- Total unsecured debt: $21,019.00
- Estimated interest charges: $11,599.74
- Time to payoff: 11 years, 2 months
- Total monthly payments: $840.76
After DMP enrollment:
- Average negotiated interest rate: 5.00%
- Total interest charges: $2,510.55
- Time to payoff: 3 years, 6 months
- Total monthly payment: $513.00
Teresita from San Luis, AZAfter a couple of weeks the calls from my creditors stopped. I have been in peace for the last two years thanks to this. I recommend it 100%.
Where she started:
- Total unsecured debt: $14,216.00
- Estimated interest charges: $7,644.24
- Time to payoff: 11 years
- Total monthly payments: $361.92
After DMP enrollment:
- Average negotiated interest rate: 7.29%
- Total interest charges: $1,616.21
- Time to payoff: 4 years
- Total monthly payment: $309.00
