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Debt Relief in Action: West Virginia

Over $16.6 million of debt resolved in the past two years

There is no shortage of challenges when it comes to personal debt for West Virginians. Although the state ranks 47th for average consumer credit card debt, student loan debt is higher than the national average. Residents also struggle with collections – in fact, two out of every five borrowers have at least one debt currently in collections. In addition, the most popular credit card in West Virginia is balance transfer, indicating that many residents are trying to eliminate their debt. These kinds of challenges can make it difficult to maintain stability even with a strict budget.

Luckily, there are ways to overcome challenges with debt when traditional payment methods fail to produce results. Many residents have regained financial control with the help of credit counseling services and programs that consolidate debt. If you’re struggling and need help achieving financial freedom, call Consolidated Credit at (844) 276-1544 or complete an online application to request a free debt analysis today.

Discover a debt solution that is right for you. If you are a West Virginia resident struggling with credit card debt, we can help you get the debt relief you need.

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Debt Statistics in West Virginia

The following statistics can help you understand the state of debt as it stands today in West Virginia. They show what situation the average borrower faces when it comes to household debt:

  • Average credit card debt per household: $7,090 [1]
  • Average available credit limit: $11,786 [2]
  • Credit utilization ratio (debt vs available limit): 36.03% [2]
  • Average number of cards: 2.76 [3]
  • % of accounts that are delinquent (at least 90 days past due): 8.11% [4]
  • Average credit score: 658 [3]
  • Most popular type of credit card: Balance transfer[5]

Debt Relief West Virginia: See our program in action

Case Study

Daniel from Fairmont, WV

“They were extremely helpful setting me up and they have been honest 100%. Consolidated Credit really helped me get my finances under control! ”

Where he started:
  • Total unsecured debt: $15,612.92
  • Estimated interest charges: $8,988.34
  • Time to payoff: 12 years, 1 month
  • Total monthly payments: $624.52
After DMP enrollment:
  • Average negotiated interest rate: 4.33%
  • Total interest charges: $1,489.86
  • Time to payoff: 3 years, 9 months
  • Total monthly payment: $380.00
Time Saved

8 years, 4 months

Monthly Savings

$244.52

Interest Saved

$7,498.48

Case Study

Kimberly from Morgantown, WV

“Consolidated Credit has been wonderful for our family. We are on our way to being debt free! ”

Where she started:
  • Total unsecured debt: $60,470.00
  • Estimated interest charges: $35,143.93
  • Time to payoff: 14 years, 6 months
  • Total monthly payments: $2,418.80
After DMP enrollment:
  • Average negotiated interest rate: 7.67%
  • Total interest charges: $15,399.88
  • Time to payoff: 4 years, 6 months
  • Total monthly payment: $1,390.00
Time Saved

10 years

Monthly Savings

$1,028.80

Interest Saved

$19,744.05

Find out if you qualify for a debt relief program. If you are ready to end your struggle with credit card debt, get a free debt and budget evaluation from a certified credit counselor today.

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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/