The Best California Debt Consolidation Companies of 2020

If you’re one of the many California residents struggling with student, auto, credit card, payday or other types of loans, you’re one of many. California ranks #27 in terms of GDP growth (2.7%), has an unemployment_rate of 5.3%, and a poverty rate of 16.40%.

The average Californian has $3,825 in personal debt, plus $363,537 of mortgage debt per capita. On average, residents have an open credit card balance of $6,481 and 50% of residents have a student loan, the average amount of which is $22,785 . Each year approximately 67,175 Californians declare bankruptcy Fortunately, there are plenty of California debt consolidation options to help you get back on track financially.

No matter whether you live in Los Angeles, San Diego, San Jose, or somewhere else in the great state of California, take charge of your financial situation and consider consolidating your debt load.

The Best Debt Consolidation Companies in California (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 California. 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 Solution, Inc.

261 E Rowland St
Covina, CA, 91723-3149
(844) 744-3393
http://www.truesolution.live

Rating: 8.38/10

Student Service Providers

8889 W Olympic Blvd
Beverly Hills, CA, 90211-3628
(877) 266-6691
http://studentserviceproviders.com/

Rating: 8.48/10

Student Refi-ce, Inc.

3500 W Olive Ave STE 550
Burbank, CA, 91505-5524
(800) 394-0900

Rating: 8.58/10

Persolve, LLC

9301 Corbin Ave #1600
Northridge, CA, 91324-2508
(818) 534-3100
http://www.persolve.com

Rating: 8.69/10

Nationwide Student Loan

20700 Ventura Blvd #302
Woodland Hills, CA, 91364-6272
(800) 672-7579
http://www.nationwidestudentloan.com

Rating: 8.79/10

Money Management International, Inc.

6080 Center Drive Suite 605
Westchester, CA, 90045
(800) 308-2227
http://www.moneymanagement.org

Rating: 8.9/10

Mediator Debt Solutions

6320 Canoga Ave Fl 15
Woodland Hills, CA, 91367-2563
(877) 915-5446
http://www.mediatordebtsolutions.com

Rating: 9.01/10

Glenmore Acquisitions

6 Centerpointe Dr Ste 700
La Palma, CA, 90623-2545
(855) 763-7680
http://gm-acquisitions.com/

Rating: 9.12/10

GA Group & Associates

6 Centerpointe Dr #700
La Palma, CA, 90623
(855) 902-9635
http://gagassociates.com

Rating: 9.23/10

Fidelity 1st Funding

67 E Live Oak Ave #103
Arcadia, CA, 91006-5256
(626) 254-8786
http://www.fidelity1stfunding.com

Rating: 9.34/10

Consolidebt LLC

505 N Euclid St #615
Anaheim, CA, 92801
(888) 777-6525

Rating: 9.45/10

Century First Credit Solutions

5670 Wilshire Blvd Suite 1800
Los Angeles, CA, 90036
(877) 218-9670
http://www.centuryfirst.net

Rating: 9.57/10

Association for Student Loan Relief

8889 W Olympic Blvd
Beverly Hills, CA, 90211-3628
(855) 788-5843
http://www.afslr.org/dar/

Rating: 9.68/10

ASLR Marketing, Inc.

140 E Commonwealth Ave Ste 103
Fullerton, CA, 92832-1905
(844) 499-5626
http://www.SquareoneFG.com

Rating: 9.8/10

California Debt Statistics

Total Debt$152,772,292
Debt Per Capita$3,825
Debt Per Capita Rank18

Source: World Population Review

California Credit Card Debt Statistics

Average Credit Card Balance680
Average Credit Score$6,481
Avg Credit Card Balance Rank (1 = Highest Balance)13
Avg Credit Score Rank (1=Highest Score)25

Source: Experian

Mortgage Debt in California

Mortgage Debt Per Capita$363,537
Avg 30 yr Mortgage Rate3.91%
Avg 15 yr Mortgage Rate3.41%
Median Home Value$550,800
Avg Outstanding Mortgage Debt$363,891
Difference Between Value and Mortgage Debt$186,909
Avg Homeowner FICO Score708

Source: Federal Reserve, Value Penguin, Experian

Payday Loan Debt in California

Payday Loan Legal StatusLegal
Max Payday Loan Amount300
Max Payday Loan Term31 days
Max Payday Loan APR460%

Source: California Government Website

Unemployment and the Economy of California

Poverty Rate – Population16.40%
Poverty Rate – Population – Rank19
Poverty Rate – Family12.30%
Poverty Rate – Family – Rank16
Unemployment Rate (March 2020)5.3
Unemployment Rank40
GDP Growth2.7
GDP Growth Rank27

Source: US Census, Bureau of Labor Statistics

Student Loan Debt in California

Percent of Population with Student Loans50%
Average Student Loan debt$22,785
Average Debt of New Graduates (2017-18)$22,585
Average Debt Ranknan
Percent of Graduates with Debt (2017-18)49%
Percent with Debt Ranknan
Usable Institutions (BA-Granting)61
Percent of Graduates at Schools with Usable Data77%
Nonfederal debt of graduates, as percent of total debt13%
Fall enrollment – Undergraduate total (IPEDS)2,462,911
Tuition and Fees (in-district/in-state)$10,411
Total Cost of Attendance (on-campus)$35,543
Percent of Institutional Grants that are Need-Based87%

Source: Value Penguin, TICAS

Cost of Living in California

Annual Mean Wage (All Occupations)$59,150
Median Monthly Rent$2,518
Value of a Dollar$0.87
Cost of Living151.7
Cost of Living Rank49
Grocery Cost Index121.4
Housing Cost Index227.3
Utilities Cost Index117.7
Transportation Cost Index138.9
Miscellaneous Cost Index114.5

Source: World Population Review