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Debt Relief in Action: Virgin Islands

Finding debt relief in spite of limited income.

Residents in the U.S. Virgin Islands have no shortage of challenges when it comes to debt. Unemployment rates are high and even for those who have a job, median earnings and household income levels are significantly lower than in the continental United States. For women, median earnings are even lower. Yet residents of the U.S. Virgin Islands still face the same problems with debt that other U.S. citizens face, so as a result nearly one in three families is living in poverty.

The information below is designed to help you understand the average financial situation in the U.S., as well as how some residents are using credit counseling to overcome their personal challenges with debt. If you’re struggling to eliminate debt and you need help, call Consolidated Credit at (844) 276-1544 or fill out an online application to request a free, confidential debt evaluation from a certified credit counselor.

Join your neighbors in the Virgin Islands who have found debt relief. We can help you find the best solution for your needs.

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Personal Finance Statistics for the U.S. Virgin Islands

Here’s a quick look at the state of debt in Virgin Islands today:

  • Average student debt: $31,844 [1]†
  • Unemployment rate: 8.6% [2]
  • Median earnings: $27,408 (male), $22,081 (female) [2]
  • Median household income: $24,704 [2]
  • Poverty rate: 32.5% [2]

Debt Relief Virgin Islands: See our program in action

Case Study

Janet G. from St. Thomas, VI

“I am very satisfied with the services that Consolidated Credit provided. In fact in some ways you saved my finances and I’m very grateful! ”

Where she started:
  • Total unsecured debt: $18,636.00
  • Estimated interest charges: $11,055.04
  • Time to payoff: 15 years, 6 months
  • Total monthly payments: $745.44
After DMP enrollment:
  • Average negotiated interest rate: 9.90%
  • Total interest charges: $4,493.81
  • Time to payoff: 4 years, 6 months
  • Total monthly payment: $432.00
Time Saved

11 years

Monthly Savings

$313.44

Interest Saved

$6,561.23

Case Study

Lorien P. from St. Croix, VI

“The program has mostly been a hit. It was easy to set up and you have great communication! Friendly and helpful. ”

Where she started:
  • Total unsecured debt: $42,999.00
  • Estimated interest charges: $25,419.84
  • Time to payoff: 15 years, 11 months
  • Total monthly payments: $1,719.96
After DMP enrollment:
  • Average negotiated interest rate: 3.00%
  • Total interest charges: $1,395.16
  • Time to payoff: 5 years, 6 months
  • Total monthly payment: $618.00
Time Saved

10 years, 5 months

Monthly Savings

$1,038.96

Interest Saved

$24,024.68

If you live in the Virgin Islands and struggle with credit card debt, we can help. Get a free debt and budget evaluation from a certified credit counselor to see if you qualify for a debt relief program.

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[1] https://blogs.wsj.com/economics/2015/03/10/the-average-student-debt-load-in-d-c-is-a-whopping-40885/

[2] 

† Combined with other U.S. territories