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Debt Relief Kentucky

Finding solutions to avoid or overcome default and avoid bankruptcy.

Credit users in Kentucky don’t have the highest debt levels of any state in the nation, but that doesn’t mean that they’re short on challenges with debt. The average household owes $5,266 in credit card debt, and the total credit card debt in the state adds up to a whopping $14,581,019,098. The credit card delinquency rate, which denotes the rate of people falling behind on required monthly payments, is 9.52. Missing payments leads to owing more money without gaining anything in return, making it a slippery slope to descend.

The good news is that even if DIY debt solutions don’t work, there are still options that can help you get out of debt without credit damage. The information below can help you understand how Consolidated Credit has helped other credit users in Kentucky to find debt relief. If you’re struggling in a similar situation, call Consolidated Credit at (877) 649-0099 to review your debt and budget. One of our certified credit counselors will help you find the best solution for your situation.

Don’t keep struggling to pay off high interest rate credit card debt on your own. Talk to a certified credit counselor to find the best way to get out of debt for your needs.

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Kentucky credit card debt statistics

The following statistics can help you understand the current situation Kentucky residents face when it comes to personal debt:

  • Average credit card debt per household: $5,266
  • Average available credit limit: $25,962
  • Average credit score: 692
  • Total credit card debt in the state: $14,581,019,098
  • Average number of cards per user: 2.78
  • Average credit card debt per user: $5,471
  • Credit card delinquency rate: 9.52
  • Average credit card late fee: $23
  • Credit card fraud reports per capita: 4.3

This chart shows a breakdown of average consumer debt in Kentucky, based on the latest report of Household Debt report from the Federal Reserve.

2023 household debt in Kentucky from Fed Reserve

Debt relief Kentucky: See our program in action!

The following case studies come from real clients of Consolidated Credit who live in Kentucky. This can help you get an idea of how we may be able to help you, too.

Case Study

Elizabeth from Lexington, KY

“I contacted Consolidated Credit to help with paying off my credit cards. The rep that helped me was absolutely amazing – so helpful and very understanding. ”

Where she started:
  • Total unsecured debt: $4,740.00
  • Estimated interest charges: $2,464.58
  • Time to payoff: 8 years, 4 months
  • Total monthly payments: $189.60
After DMP enrollment:
  • Average negotiated interest rate: 1.93%
  • Total interest charges: $222.56
  • Time to payoff: 4 years, 11 months
  • Total monthly payment: $88.00
Time Saved

3 years, 5 months

Monthly Savings

$101.60

Interest Saved

$2,242.02

Case Study

Jared from Lexington, KY

“Thank you for helping me see it was possible to climb out of such a bad situation. ”

Where he started:
  • Total unsecured debt: $10,016.00
  • Estimated interest charges: $5,503.89
  • Time to payoff: 11 years, 5 months
  • Total monthly payments: $400.64
After DMP enrollment:
  • Average negotiated interest rate: 8.37%
  • Total interest charges: $1,221.17
  • Time to payoff: 4 years, 2 months
  • Total monthly payment: $220.00
Time Saved

7 years, 3 months

Monthly Savings

$180.64

Interest Saved

$4,282.72

Case Study

Regina from Magnolia, KY

“This is such a great service! I’d recommend it to anyone. ”

Where she started:
  • Total unsecured debt: $17,850.00
  • Estimated interest charges: $10,330.64
  • Time to payoff: 12 years, 6 months
  • Total monthly payments: $714.00
After DMP enrollment:
  • Average negotiated interest rate: 8.67%
  • Total interest charges: $5,805.11
  • Time to payoff: 5 years, 6 months
  • Total monthly payment: $357.00
Time Saved

7 years

Monthly Savings

$357.00

Interest Saved

$4,525.53

Ready to see if Consolidated Credit’s debt relief program can help you, too? Talk to a certified credit counselor now for a free evaluation.

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