The Best New York Debt Consolidation Companies of 2020

Many New York residents wrestle with student, medical, auto, credit card and other debt types. Among the states, New York ranks below average in terms of unemployment, with 4.5% of the labor force unemployed. About 15.60% of the population and 12.00% of families live in poverty.

The average New Yorker has $7,162 in personal debt, plus $236,093 of mortgage debt for homeowners. On average, New York residents carry a credit cardd balance of $6,317 and 60% of New Yorkers have student loan debt – $30,931 worth to be precise. Every year approximately 33,097 New Yorkers declare bankruptcy. Fortunately, there are plenty of New York debt consolidation options to help you get back on track financially.

So whether you live in Brooklyn, New York, Bronx, or somewhere in-between, take charge of your financial situation and consider consolidating your debt load.

The Best Debt Consolidation Companies in New York (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 New York. 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.

Valer Enterprises, Inc.

1170 Lincoln Avenue, Ste 1
Holbrook, NY, 11741-2286
(631) 472-6300

Rating: 6.39/10

United Credit Solutions, Inc.

1375 Broadway, 6th Floor
New York, NY, 10018-7001
(877) 890-3135
http://www.ucsolutions.org

Rating: 6.47/10

Trust Tech Solution

100-A Walnut Street Suite 183
Champlain, NY, 12919
(888) 288-8013

Rating: 6.54/10

The Law Offices of Adam C. Gomerman

807 East Jericho Turnpike
Huntingtn Station, NY, 11746-7513
(631) 549-2070

Rating: 6.62/10

The Debt Relief Company

99 Wall Street # 725
New York, NY, 10005
(888) 344-0214
https://www.thedebtreliefcompany.com/

Rating: 6.7/10

The Debt Management Group

2653 Coney Island Ave Fl 2
Brooklyn, NY, 11223-5502
(800) 667-3328
http://www.thedebtmanagementgroup.com

Rating: 6.79/10

ProLine Mortgage Corporation – Clifton Park

661A Plank Road
Clifton Park, NY, 12065
(518) 885-8957

Rating: 6.87/10

ProLine Mortgage Corporation

20 Prospect Street Suite 302
Ballston Spa, NY, 12020
(518) 885-8957

Rating: 6.95/10

Northgate Funding Co.

Pinewest Plaza Building #3 Washington Avenue Ext.
Albany, NY, 12205
(518) 464-4448

Rating: 7.04/10

National Debt Relief, LLC

180 Maiden Lane, 30th Floor
New York, NY, 10038
(888) 502-6611
https://www.nationaldebtrelief.com/?src=BBB&placement=profile

Rating: 7.12/10

Money Management International, Inc. – New York

1501 Broadway 12th Floor, Ste. 12021
New York, NY, 10036
(800) 308-2227
http://www.moneymanagement.org

Rating: 7.21/10

Money Management International, Inc.

903 Sheridan Ave 2nd Floor, Ste. 1
Bronx, NY, 10451
(800) 308-2227
http://www.moneymanagement.org

Rating: 7.29/10

MEM Fi-cial Solutions, Inc. – Schenectady

202 State Street
Schenectady, NY, 12305
(518) 348-1096

Rating: 7.38/10

MEM Fi-cial Solutions, Inc.

150 Warren Street
Glens Falls, NY, 12801
(518) 348-1096

Rating: 7.47/10

Law Offices of Crystal Moroney, P.C. – New City

17 Squadron Blvd Ste 305
New City, NY, 10956-5214
(888) 223-0010
http://www.crystalmoroneylaw.com/

Rating: 7.56/10

Law Offices of Crystal Moroney, P.C.

119 Rockland Ctr Ste 390
-uet, NY, 10954-2956
(888) 223-0010
http://www.crystalmoroneylaw.com/

Rating: 7.66/10

JXD Fi-cial

34-18 Northern Blvd, 4th Floor
Long Island City, NY, 11101
(877) 332-8311
http://www.jxdfi-cial.com/

Rating: 7.75/10

Imperial Advance LLC

247 W 36th St Fl 2
New York, NY, 10018
(888) 633-2083
http://www.imperialadvance.com/

Rating: 7.84/10

Guardian Debt Relief

68 Jay Street, Suite 720
Brooklyn, NY, 11201
(888) 210-0699
https://www.guardiandebtrelief.com

Rating: 7.94/10

Grayson Fi-cial Services, Inc.

451 Sunrise Hwy Ste 2B
Lynbrook, NY, 11563-3037
(718) 322-7220
http://www.990club.com

Rating: 8.03/10

Fi-ce Solutions

132 E 43rd St # 237
New York, NY, 10017-4019
(855) 331-4852
http://www.fi-cesolutions.org

Rating: 8.13/10

Debt Reduction Services

4170 Veterans Memorial Hwy Ste 203
Bohemia, NY, 11716
(631) 473-7500
http://www.debtreductionservices.org

Rating: 8.23/10

Consumers Credit Bureaus

225 West 34th Street, Ste. 806
New York, NY, 10122
(212) 695-5579

Rating: 8.33/10

Consumer Debt Counselors Inc.

989 Jerusalem Ave
Merrick, NY, 11566-1853
(800) 359-3163
http://www.consumerdebtcounselors.org

Rating: 8.43/10

Colonial Home Fi-ce Inc.

58 Clifton Country Road Suite 203
Clifton Park, NY, 12065
(518) 469-7014

Rating: 8.53/10

Churchill Credit Solutions

115 Broadway, 3rd Fl.
New York, NY, 10006
(800) 265-1276
http://www.churchillcreditsolutions.com

Rating: 8.64/10

Century First Credit Solutions

230 Park Avenue, 3rd Floor West (Entrance On 71 Vanderbilt Ave)
New York, NY, 10169
(877) 218-9670
http://www.centuryfirst.net

Rating: 8.74/10

Apex Credit Solutions Inc.

1110 South Ave Ste 3
Staten Island, NY, 10314
(718) 701-2252
https://www.apexcreditsolutions.com/

Rating: 8.85/10

American Homes Solutions Group

174 Post Avenue
Westbury, NY, 11590
(800) 333-1116

Rating: 8.96/10

American Homes Solution Group Inc.

162 Post Ave
Westbury, NY, 11590-3391
(516) 333-1116
http://www.librededeuda.com/

Rating: 9.07/10

American Debt Resources

248-C Larkfield Road
East Northport, NY, 11731
(800) 498-0766
http://www.AmericanDebtResources.com

Rating: 9.18/10

Alumni Funding, LLC – Saratoga Springs

75 Railroad Place
Saratoga Springs, NY, 12866
(518) 452-9040

Rating: 9.29/10

Alumni Funding, LLC

Pine West Plaza Building #2 Washington Avenue Ext.
Albany, NY, 12205
(518) 452-9040

Rating: 9.4/10

New York Debt Statistics

Total Debt$139,234,923
Debt Per Capita$7,162
Debt Per Capita Rank6

Source: World Population Review

New York Credit Card Debt Statistics

Average Credit Card Balance659
Average Credit Score$6,317
Avg Credit Card Balance Rank (1 = Highest Balance)21
Avg Credit Score Rank (1=Highest Score)41

Source: Experian

Mortgage Debt in New York

Mortgage Debt Per Capita$236,093
Avg 30 yr Mortgage Rate3.91%
Avg 15 yr Mortgage Rate3.44%
Median Home Value$305,300
Avg Outstanding Mortgage Debt$237,610
Difference Between Value and Mortgage Debt$67,690
Avg Homeowner FICO Score712

Source: Federal Reserve, Value Penguin, Experian

Payday Loan Debt in New York

Payday Loan Legal StatusLegal
Max Payday Loan Amountnan
Max Payday Loan Termnan
Max Payday Loan APRnan

Source: New York Government Website

Unemployment and the Economy of New York

Poverty Rate – Population15.60%
Poverty Rate – Population – Rank21
Poverty Rate – Family12.00%
Poverty Rate – Family – Rank19
Unemployment Rate (March 2020)4.5
Unemployment Rank31
GDP Growth3.8
GDP Growth Rank6

Source: US Census, Bureau of Labor Statistics

Student Loan Debt in New York

Percent of Population with Student Loans60%
Average Student Loan debt$30,931
Average Debt of New Graduates (2017-18)$31,127
Average Debt Ranknan
Percent of Graduates with Debt (2017-18)59%
Percent with Debt Ranknan
Usable Institutions (BA-Granting)81
Percent of Graduates at Schools with Usable Data69%
Nonfederal debt of graduates, as percent of total debt25%
Fall enrollment – Undergraduate total (IPEDS)1,044,146
Tuition and Fees (in-district/in-state)$20,003
Total Cost of Attendance (on-campus)$41,446
Percent of Institutional Grants that are Need-Based80%

Source: Value Penguin, TICAS

Cost of Living in New York

Annual Mean Wage (All Occupations)$61,870
Median Monthly Rent$2,050
Value of a Dollar$0.87
Cost of Living139.1
Cost of Living Rank48
Grocery Cost Index114.8
Housing Cost Index204.4
Utilities Cost Index108.7
Transportation Cost Index116.6
Miscellaneous Cost Index104.8

Source: World Population Review