Debt Relief in Action: Virginia
Credit counseling helps Virginians find credit card debt relief
Virginians have an interesting relationship with debt. Statistically, Virginians have higher than average student loan debt, rank tenth in high credit card balances, and have more homes that are underwater because the mortgage balances are higher than home values. Their average credit utilization ratio is over 30%, and anything over 30% can hurt credit scores. Yet in spite of these challenges, they have lower percentages of debts that are past due and in collections.
The information below can help you understand the financial impact of debt on Virginia residents and how some are using credit counseling to find solutions. If you’re facing your own credit card debt issues, call us at or complete an online application to request a free debt and budget analysis from a certified credit counselor.
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Debt Statistics in Virginia
The following statistics provide a snapshot of the current state of debt in Virginia:
- Average credit card debt per household: $7,867 [1]
- Average available credit limit: $17,967 [2]
- Credit utilization ratio (debt vs available limit): 30.58% [2]
- Average number of cards: 3.08 [3]
- % of accounts that are delinquent (at least 90 days past due): 6.1% [4]
- Average credit score: 680 [3]
- Most popular type of credit card: Travel rewards [5]
Debt Relief Virginia: See our program in action
Justin from Charlottesville, VAConsolidated Credit has been instrumental in my recovery from debt and mistakes I made in the past. These folks are helpful and now my debt is almost gone!
Where he started:
- Total unsecured debt: $15,578.00
- Estimated interest charges: $8,467.97
- Time to payoff: 12 years, 9 months
- Total monthly payments: $626.28
After DMP enrollment:
- Average negotiated interest rate: 9.20%
- Total interest charges: $2,944.22
- Time to payoff: 3 years, 10 months
- Total monthly payment: $402.00
Maria from Lorton, VAIf not for your persistence, I probably still wouldn’t be sleeping at night. It was hard at first, but when 2 or 3 of my credit cards were paid off it was an awesome feeling. Quick response and always there to assist. Thanks!
Where she started:
- Total unsecured debt: $39,179.00
- Estimated interest charges: $22,369.05
- Time to payoff: 14 years, 3 months
- Total monthly payments: $1,567.16
After DMP enrollment:
- Average negotiated interest rate: 5.11%
- Total interest charges: $1,920.78
- Time to payoff: 4 years, 4 months
- Total monthly payment: $798.00
Patricia from Virginia Beach, VAIt feels so good to have someone here to help me get my credit and my life back on track.
Where she started:
- Total unsecured debt: $14,931.00
- Estimated interest charges: $8,062.30
- Time to payoff: 10 years, 6 months
- Total monthly payments: $596.52
After DMP enrollment:
- Average negotiated interest rate: 4.79%
- Total interest charges: $1,990.03
- Time to payoff: 4 years, 7 months
- Total monthly payment: $309.00
Join other Virginians finding tax relief. We can help you find the right solution for your credit card debt, and you can get a free debt and budget evaluation from a certified credit counselor today. Get Help Now |
