The Best Delaware Debt Consolidation Companies of 2020

If you’re one of the many Delaware residents struggling with student, auto, credit card, payday or other types of loans, you’re one of many. Delaware ranks below average in unemployment (3.9%) and has a concerning poverty rate of 12.00%.

The average Delawarean has $4,641 in personal debt, plus $185,452 of mortgage debt per capita. On average, residents have an open credit card balance of $6,963 and 62% of residents have a student loan, the average amount of which is $34,144 . Each year approximately 2,265 Delawareans declare bankruptcy. If this is you, there are Delaware debt consolidation options to help you get back on track financially.

So whether you live in Wilmington, Newark, Dover, or somewhere in-between, take charge of your financial situation and consider consolidating your debt load.

The Best Debt Consolidation Companies in Delaware (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 Delaware. 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.

Best Egg

1523 Concord Pike Ste 302
Wilmington, DE, 19803-3654
(800) 711-8198
https://www.mybestegg.com/?cpid=4246ac

Rating: 9.6/10

Delaware Debt Statistics

Total Debt$4,561,576
Debt Per Capita$4,641
Debt Per Capita Rank11

Source: World Population Review

Delaware Credit Card Debt Statistics

Average Credit Card Balance670
Average Credit Score$6,963
Avg Credit Card Balance Rank (1 = Highest Balance)7
Avg Credit Score Rank (1=Highest Score)34

Source: Experian

Mortgage Debt in Delaware

Mortgage Debt Per Capita$185,452
Avg 30 yr Mortgage Rate3.87%
Avg 15 yr Mortgage Rate3.33%
Median Home Value$236,300
Avg Outstanding Mortgage Debt$185,527
Difference Between Value and Mortgage Debt$50,773
Avg Homeowner FICO Score701

Source: Federal Reserve, Value Penguin, Experian

Payday Loan Debt in Delaware

Payday Loan Legal StatusLegal
Max Payday Loan Amount1000
Max Payday Loan Term60 days
Max Payday Loan APR521%

Source: Delaware Government Website

Unemployment and the Economy of Delaware

Poverty Rate – Population12.00%
Poverty Rate – Population – Rank39
Poverty Rate – Family8.20%
Poverty Rate – Family – Rank40
Unemployment Rate (March 2020)5.1
Unemployment Rank38
GDP Growth3.9
GDP Growth Rank6

Source: US Census, Bureau of Labor Statistics

Student Loan Debt in Delaware

Percent of Population with Student Loans62%
Average Student Loan debt$34,144
Average Debt of New Graduates (2017-18)$34,144
Average Debt Ranknan
Percent of Graduates with Debt (2017-18)62%
Percent with Debt Ranknan
Usable Institutions (BA-Granting)1
Percent of Graduates at Schools with Usable Data58%
Nonfederal debt of graduates, as percent of total debt34%
Fall enrollment – Undergraduate total (IPEDS)50,083
Tuition and Fees (in-district/in-state)$11,567
Total Cost of Attendance (on-campus)$28,497
Percent of Institutional Grants that are Need-Based64%

Source: Value Penguin, TICAS

Cost of Living in Delaware

Annual Mean Wage (All Occupations)$53,320
Median Monthly Rent$1,435
Value of a Dollar$1.00
Cost of Living108.1
Cost of Living Rank35
Grocery Cost Index113.4
Housing Cost Index98.2
Utilities Cost Index96.5
Transportation Cost Index107.0
Miscellaneous Cost Index101.6

Source: World Population Review