Debt Relief Kentucky

Finding solutions to avoid or overcome default and avoid bankruptcy.

Kentuckians have no shortage of challenges when it comes to personal debt. The average credit user currently carries a balance of more than $7,000. Cardholders have a average credit utilization ratio of over 31%; anything higher than 30% is bad for your credit score. The most popular credit card is a balance transfer card, which means residents are least focused on eliminating debt. But with balances that high, do-it-yourself debt consolidation doesn’t always work.

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 1-888-294-3130 to review your debt and budget. One of our certified credit counselors will help you find the best solution for your situation.

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: $7,190 [1]
  • Average available credit limit: $11,908 [2]
  • Credit utilization ratio (debt vs available limit): 33.41% [2]
  • Average number of cards: 2.78 [3]
  • % of accounts that are delinquent (at least 90 days past due): 7.09% [4]
  • Average credit score: 663 [3]
  • Most popular type of credit card: Cash back rewards [5]

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.

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
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
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