The Best Alaska Debt Consolidation Companies of 2020

If you’re one of the many Alaskans stuck in payday, credit card, auto, medical or any other kind of personal debt, you’re not alone. Alaska ranks below average in unemployment (3.9%) and has a concerning poverty rate of 10.10%.

The average Alaskan has $8,068 in personal debt, plus $223,430 of mortgage debt per capita. On average, residents have an open credit card balance of $8,516 and 46% of residents have a student loan, the average amount of which is $25,682 . Each year approximately 384 Alaskans declare bankruptcy Fortunately for you, there are a number of Alaska debt consolidation options to help you get back on track financially.

No matter whether you live in Anchorage, Fairbanks, Wasilla, or somewhere else in the great state of Alaska, take charge of your financial situation and consider consolidating your debt load.

The Best Debt Consolidation Companies in Alaska (updated 2020)

Finding a legit debt consolidation firm can be tough. We’ve done the research and picked the [n] best debt consolidation firms in the state of Alaska. Our criteria includes online reputation, breadth of services offered, and demonstration of expertise. All have at least an A rating with the Better Business Bureau.

True North Federal Credit Union

341 W Tudor Rd Ste 100
Anchorage, AK, 99503-6639
(907) 771-4777
http://www.truenorthfcu.org

Rating: 9.58/10

Money Management International, Inc.

707 A Street Suite 120
Anchorage, AK, 99501
(800) 308-2227
http://www.moneymanagement.org

Rating: 9.7/10

Alaska Debt Statistics

Total Debt$5,921,713
Debt Per Capita$8,068
Debt Per Capita Rank4

Source: World Population Review

Alaska Credit Card Debt Statistics

Average Credit Card Balance668
Average Credit Score$8,516
Avg Credit Card Balance Rank (1 = Highest Balance)1
Avg Credit Score Rank (1=Highest Score)36

Source: Experian

Mortgage Debt in Alaska

Mortgage Debt Per Capita$223,430
Avg 30 yr Mortgage Rate3.94%
Avg 15 yr Mortgage Rate3.48%
Median Home Value$326,000
Avg Outstanding Mortgage Debt$223,167
Difference Between Value and Mortgage Debt$102,833
Avg Homeowner FICO Score707

Source: Federal Reserve, Value Penguin, Experian

Payday Loan Debt in Alaska

Payday Loan Legal StatusLegal
Max Payday Loan Amount500
Max Payday Loan Term14 days
Max Payday Loan APR435%

Source: Alaska Government Website

Unemployment and the Economy of Alaska

Poverty Rate – Population10.10%
Poverty Rate – Population – Rank49
Poverty Rate – Family7.00%
Poverty Rate – Family – Rank49
Unemployment Rate (March 2020)5.6
Unemployment Rank44
GDP Growth3.9
GDP Growth Rank6

Source: US Census, Bureau of Labor Statistics

Student Loan Debt in Alaska

Percent of Population with Student Loans46%
Average Student Loan debt$25,682
Average Debt of New Graduates (2017-18)nan
Average Debt Ranknan
Percent of Graduates with Debt (2017-18)nan
Percent with Debt Ranknan
Usable Institutions (BA-Granting)1
Percent of Graduates at Schools with Usable Data29%
Nonfederal debt of graduates, as percent of total debtnan
Fall enrollment – Undergraduate total (IPEDS)25,574
Tuition and Fees (in-district/in-state)$6,775
Total Cost of Attendance (on-campus)$24,397
Percent of Institutional Grants that are Need-Based74%

Source: Value Penguin, TICAS

Cost of Living in Alaska

Annual Mean Wage (All Occupations)$58,710
Median Monthly Rent$1,748
Value of a Dollar$0.95
Cost of Living129.9
Cost of Living Rank45
Grocery Cost Index134.2
Housing Cost Index133.9
Utilities Cost Index154.2
Transportation Cost Index130.8
Miscellaneous Cost Index150.9

Source: World Population Review