The Best Idaho Debt Consolidation Companies of 2020

Many Idahoans wrestle with auto, credit card, payday, medical and other debt types. Even though The Gem State has a rapidly growing economy with 2.7% GDP growth, and a extremely low unemployment rate of 2.6% (#2 of all states), 15.60% of residents live below the poverty line. Many struggle with debt.

The average Idahoan has $1,845 in personal debt, plus $169,603 of mortgage debt for homeowners. On average, Idaho residents carry a credit cardd balance of $6,981 and 61% of Idahoans have student loan debt – $26,675 worth to be precise. Every year approximately 3,806 Idahoans declare bankruptcy. Fortunately, there are plenty of Idaho debt consolidation options to get you to where you need to be financially.

So whether you live in Boise, Nampa, Idaho Falls, or somewhere in-between, take charge of your financial situation and consider consolidating your debt load.

The Best Debt Consolidation Companies in Idaho (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 Idaho. 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.

Debt Reduction Services

6213 N Cloverdale Rd Ste 100
Boise, ID, 83713-4912
(208) 378-0200
http://www.debtreductionservices.org

Rating: 9.6/10

Idaho Debt Statistics

Total Debt$3,369,178
Debt Per Capita$1,845
Debt Per Capita Rank40

Source: World Population Review

Idaho Credit Card Debt Statistics

Average Credit Card Balance693
Average Credit Score$6,981
Avg Credit Card Balance Rank (1 = Highest Balance)6
Avg Credit Score Rank (1=Highest Score)10

Source: Experian

Mortgage Debt in Idaho

Mortgage Debt Per Capita$169,603
Avg 30 yr Mortgage Rate3.89%
Avg 15 yr Mortgage Rate3.40%
Median Home Value$274,200
Avg Outstanding Mortgage Debt$171,193
Difference Between Value and Mortgage Debt$103,007
Avg Homeowner FICO Score711

Source: Federal Reserve, Value Penguin, Experian

Payday Loan Debt in Idaho

Payday Loan Legal StatusLegal
Max Payday Loan Amount1000
Max Payday Loan TermUnspecified
Max Payday Loan APR652%

Source: Idaho Government Website

Unemployment and the Economy of Idaho

Poverty Rate – Population15.60%
Poverty Rate – Population – Rank22
Poverty Rate – Family11.00%
Poverty Rate – Family – Rank25
Unemployment Rate (March 2020)2.6
Unemployment Rank2
GDP Growth2.7
GDP Growth Rank23

Source: US Census, Bureau of Labor Statistics

Student Loan Debt in Idaho

Percent of Population with Student Loans61%
Average Student Loan debt$26,675
Average Debt of New Graduates (2017-18)$27,682
Average Debt Ranknan
Percent of Graduates with Debt (2017-18)62%
Percent with Debt Ranknan
Usable Institutions (BA-Granting)6
Percent of Graduates at Schools with Usable Data61%
Nonfederal debt of graduates, as percent of total debt7%
Fall enrollment – Undergraduate total (IPEDS)125,100
Tuition and Fees (in-district/in-state)$6,578
Total Cost of Attendance (on-campus)$18,352
Percent of Institutional Grants that are Need-Based29%

Source: Value Penguin, TICAS

Cost of Living in Idaho

Annual Mean Wage (All Occupations)$43,480
Median Monthly Rent$1,238
Value of a Dollar$1.08
Cost of Living92.3
Cost of Living Rank19
Grocery Cost Index92.2
Housing Cost Index87.1
Utilities Cost Index82.9
Transportation Cost Index106.7
Miscellaneous Cost Index97.3

Source: World Population Review