Debt Consolidation in Action: Louisiana

Residents find relief from credit card debt through consolidation.

When it comes to personal debt, statistics show that Louisianans tend to have the most problems with credit cards and other unsecured debts. While residents have lower balances and default rates on student loan debt than national averages, and less issues with underwater homes and delinquent mortgages, they have more credit cards that are past-due and debts in collections than residents in other states.

Luckily residents are finding other means of eliminating debt when traditional payment methods don’t work. Many have found relief through credit counseling and consolidation with a debt management program. If you’re working to eliminate debt and need help, call us at or complete an online application to get a confidential debt and budget evaluation from a certified credit counselor at no charge.

Debt Statistics in Louisiana

The statistics below can help you understand the financial situation the average family in Louisiana faces with debt today.

  • Average credit card debt per household: $7,260 [1]
  • Average available credit limit: $11,224 [2]
  • Credit utilization ratio (debt vs available limit): 35.25% [2]
  • Average number of cards: 2.77 [3]
  • % of accounts that are delinquent (at least 90 days past due): 7.78% [4]
  • Average credit score: 650 [3]
  • Most popular type of credit card: Balance transfer [5]

 

Deborah from La Place, LA

We’re very happy with the service and to be on our way to being debt free.

Where she started:

  • Total unsecured debt: $17,158.16
  • Estimated interest charges: $9,409.35
  • Time to payoff: 11 years
  • Total monthly payments: $686.33

After DMP enrollment:

  • Average negotiated interest rate: 4.87%
  • Total interest charges: $1,985.35
  • Time to payoff: 4 years, 3 months
  • Total monthly payment: $380.00
Time Saved:
6 years, 9 months
Monthly Savings:
$306.33
Interest Saved:
$7,424.00
Donald from Montegut, LA

A very painless and satisfying experience. :) Very professional attitude from all.

Where they started:

  • Total unsecured debt: $24,165.00
  • Estimated interest charges: $13,740.14
  • Time to payoff: 12 years, 6 months
  • Total monthly payments: $966.60

After DMP enrollment:

  • Average negotiated interest rate: 5.13%
  • Total interest charges: $3,004.55
  • Time to payoff: 4 years, 7 months
  • Total monthly payment: $498.00
Time Saved:
7 years, 11 months
Monthly Savings:
$468.60
Interest Saved:
$10,735.59
Wanda from North Farmerville, LA

It’s a great service that consolidated my bills into one monthly payment and lowered my interest rates. Try it! This program is for anyone that is serious about getting out of debt. They are serious about helping you. I’m so glad I called.

Where she started:

  • Total unsecured debt: $12,892.00
  • Estimated interest charges: $7,102.91
  • Time to payoff: 10 years, 4 months
  • Total monthly payments: $515.68

After DMP enrollment:

  • Average negotiated interest rate: 8.30%
  • Total interest charges: $1,920.15
  • Time to payoff: 2 years, 7 months
  • Total monthly payment: $476.00
Time Saved:
7 years, 9 months
Monthly Savings:
$39.68
Interest Saved:
$5,182.76