The Best Louisiana Debt Consolidation Companies of 2020

Many Louisiana residents wrestle with payday, medical, auto, student and other debt types. Among the states, Louisiana ranks below average in terms of unemployment, with 6.9% of the labor force unemployed. About 19.60% of the population and 15.10% of families live in poverty.

The average Louisianian has $3,895 in personal debt, plus $151,763 of mortgage debt per capita. On average, residents have an open credit card balance of $5,555 and 48% of residents have a student loan, the average amount of which is $27,210 . Each year approximately 9,299 Louisianians declare bankruptcy If this is you, there are Louisiana debt consolidation options to help you get back on track financially.

No matter whether you live in Baton Rouge, New Orleans, Shreveport, or somewhere else in the great state of Louisiana, take charge of your financial situation and consider consolidating your debt load.

The Best Debt Consolidation Companies in Louisiana (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 Louisiana. 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.

Money Management International, Inc. – New Orleans

1215 Prytania St Suite 424
New Orleans, LA, 70130
(800) 308-2227
http://www.moneymanagement.org

Rating: 8.82/10

Money Management International, Inc.

615 Chevelle Ct
Baton Rouge, LA, 70806-6502
(800) 308-2227
http://www.moneymanagement.org

Rating: 8.93/10

Mark Credit Corporation

3816 W Congress St STE 1
Lafayette, LA, 70506-8706
(337) 889-3730

Rating: 9.04/10

Consumer Debt Counselors, Inc.

3925 N 1-10 Service Rd West Suite 222
Metairie, LA, 70002
(800) 820-9232
http://www.consumerdebtcounselors.org

Rating: 9.15/10

Consumer Debt Counselors – Metairie

3925 N I 10 Service Rd W Ste 222 Suite 222
Metairie, LA, 70002-6858
(504) 454-3120
http://www.consumerdebtcounselors.org

Rating: 9.26/10

Consumer Debt Counselors – Lafayette

106 Oil Center Dr STE 102M
Lafayette, LA, 70503-2482
(337) 266-9501
http://www.consumerdebtcounselors.org

Rating: 9.37/10

Consumer Debt Counselors

13001 Justice Ave
Baton Rouge, LA, 70816-5330
(225) 295-0212
http://www.consumerdebtcounselors.org

Rating: 9.48/10

Acadia Bureau of Debt Adjusters

607 N Parkerson Ave
Crowley, LA, 70526-4305
(337) 783-7316

Rating: 9.6/10

Louisiana Debt Statistics

Total Debt$18,092,508
Debt Per Capita$3,895
Debt Per Capita Rank17

Source: World Population Review

Louisiana Credit Card Debt Statistics

Average Credit Card Balance663
Average Credit Score$5,555
Avg Credit Card Balance Rank (1 = Highest Balance)45
Avg Credit Score Rank (1=Highest Score)39

Source: Experian

Mortgage Debt in Louisiana

Mortgage Debt Per Capita$151,763
Avg 30 yr Mortgage Rate3.95%
Avg 15 yr Mortgage Rate3.49%
Median Home Value$147,600
Avg Outstanding Mortgage Debt$151,851
Difference Between Value and Mortgage Debt($4,251)
Avg Homeowner FICO Score677

Source: Federal Reserve, Value Penguin, Experian

Payday Loan Debt in Louisiana

Payday Loan Legal StatusLegal
Max Payday Loan Amount350
Max Payday Loan Term30 days
Max Payday Loan APR391%

Source: Louisiana Government Website

Unemployment and the Economy of Louisiana

Poverty Rate – Population19.60%
Poverty Rate – Population – Rank3
Poverty Rate – Family15.10%
Poverty Rate – Family – Rank3
Unemployment Rate (March 2020)6.9
Unemployment Rank51
GDP Growth3.8
GDP Growth Rank8

Source: US Census, Bureau of Labor Statistics

Student Loan Debt in Louisiana

Percent of Population with Student Loans48%
Average Student Loan debt$27,210
Average Debt of New Graduates (2017-18)$27,151
Average Debt Ranknan
Percent of Graduates with Debt (2017-18)49%
Percent with Debt Ranknan
Usable Institutions (BA-Granting)9
Percent of Graduates at Schools with Usable Data53%
Nonfederal debt of graduates, as percent of total debt16%
Fall enrollment – Undergraduate total (IPEDS)218,752
Tuition and Fees (in-district/in-state)$11,683
Total Cost of Attendance (on-campus)$29,193
Percent of Institutional Grants that are Need-Based61%

Source: Value Penguin, TICAS

Cost of Living in Louisiana

Annual Mean Wage (All Occupations)$42,660
Median Monthly Rent$1,245
Value of a Dollar$1.11
Cost of Living93.9
Cost of Living Rank20
Grocery Cost Index99.9
Housing Cost Index86.6
Utilities Cost Index89.3
Transportation Cost Index98.5
Miscellaneous Cost Index98.8

Source: World Population Review