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Debt Relief in Action: Tennessee

Finding a path forward from debt problems to achieve debt relief and financial freedom

Personal debt affects every family and household differently, but there are often similar stories for people who live in the same area – they share challenges with unemployment and face the same circumstances when it comes to the real estate market. Their most popular type of credit card is balance transfer, which means there are many Tennesseans trying to escape debt. Many have overcome these issues by being proactive to find solutions that allow them to regain control.

The information is designed to help you understand the general state of debt in Tennessee today. You’ll also find helpful case studies of real clients from Tennessee who’ve found relief through credit counseling. If you’re struggling with credit card debt and need help, give us a call at (844) 276-1544 or complete an online application to schedule a debt and budget analysis with a certified credit counselor. It’s free and confidential, so you have nothing to lose but your debt.

Start getting rid of your debt! We’ll find the right debt relief solution for your situation, just like we have for many other Tennessee residents.

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Debt Statistics in Tennessee

These statistics can help you understand the situation residents of Tennessee currently face with various types of personal debt:

  • Average credit card debt per household: $6,217 [1]
  • Average available credit limit: $12,557 [2]
  • Credit utilization ratio (debt vs available limit): 33.11% [2]
  • Average number of cards: 2.77 [3]
  • % of accounts that are delinquent (at least 90 days past due): 7.09% [4]
  • Average credit score: 662 [3]
  • Most popular type of credit card: Balance transfer  [5]

Debt Relief Tennessee: See our program in action

Case Study

Denise from Memphis, TN

“This is a wonderful service! You’ve been dependable and very helpful anytime I have a question. ”

Where she started:
  • Total unsecured debt: $22,041.00
  • Estimated interest charges: $12,845.21
  • Time to payoff: 14 years, 6 months
  • Total monthly payments: $881.64
After DMP enrollment:
  • Average negotiated interest rate: 10.00%
  • Total interest charges: $5,519.54
  • Time to payoff: 5 years, 3 months
  • Total monthly payment: $432.00
Time Saved

9 years, 3 months

Monthly Savings

$449.64

Interest Saved

$7,325.67

Case Study

Kathy from Lewisburg, TN

“Everyone has been nice and very helpful. ”

Where she started:
  • Total unsecured debt: $13,988.00
  • Estimated interest charges: $7,767.32
  • Time to payoff: 12 years, 2 months
  • Total monthly payments: $562.76
After DMP enrollment:
  • Average negotiated interest rate: 0.80%
  • Total interest charges: $352.10
  • Time to payoff: 3 years, 6 months
  • Total monthly payment: $342.00
Time Saved

8 years, 8 months

Monthly Savings

$220.76

Interest Saved

$7,415.22

Case Study

Terry from Nashville, TN

“Consolidated Credit has been a great help and it’s a top notch service. They’ve been very professional and I would recommend this service to anyone. ”

Where he started:
  • Total unsecured debt: $13,019.00
  • Estimated interest charges: $6,799.43
  • Time to payoff: 12 years, 3 months
  • Total monthly payments: $520.76
After DMP enrollment:
  • Average negotiated interest rate: 5.32%
  • Total interest charges: $1,905.38
  • Time to payoff: 4 years, 6 months
  • Total monthly payment: $277.00
Time Saved

7 years, 9 months

Monthly Savings

$243.76

Interest Saved

$4,894.05

It’s time for you to get rid of your debt. Get a free debt and budget evaluation from a certified credit counselor today to find out if you qualify for a debt relief program!

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Sources:
[1] https://www.valuepenguin.com/average-credit-card-debt#by-region
[2] https://www.creditsesame.com/blog/credit-cards/states-maxing-out-their-credit-cards/
[3] https://www.experian.com/blogs/ask-experian/state-of-credit/
[4] https://www.creditsesame.com/blog/debt/states-that-dont-pay-bill-on-time/
[5] https://www.nerdwallet.com/blog/credit-cards/most-popular-credit-cards-state-map-2015/