The Best Ohio Debt Consolidation Companies of 2020

If you’re one of the many Ohioans struggling with credit card, student, payday, auto or other types of loans, you’re not alone. Ohio ranks below average in unemployment (3.5%) and has a concerning poverty rate of 15.90%.

The average Ohioan has $2,851 in personal debt, plus $122,765 of mortgage debt for homeowners. On average, Ohio residents carry a credit cardd balance of $5,511 and 62% of Ohioans have student loan debt – $30,629 worth to be precise. Every year approximately 37,102 Ohioans declare bankruptcy. Fortunately, there are plenty of Ohio debt consolidation options to get you to where you need to be financially.

So whether you live in Columbus, Cincinnati, Cleveland, or somewhere in-between, take charge of your financial situation and consider consolidating your debt load.

The Best Debt Consolidation Companies in Ohio (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 Ohio. 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.

World Marketing Alliance

11421 Chester Rd
Cincinnati, OH, 45246
(513) 326-7000

Rating: 7.48/10

Sycamore Creek Fi-cial Services

1209 Hill Rd N RTS 07.22.08 Insuff Address
Pickerington, OH, 43147-8888
(614) 833-0405

Rating: 7.57/10

Steiden Law Offices – West Chester

8050 Becket Center Drive #131
West Chester, OH, 45069
(513) 888-8888
http://www.steidenlaw.com

Rating: 7.67/10

Steiden Law Offices – Maineville

2263 W US 22 and 3
Maineville, OH, 45039
(513) 888-8888
http://www.steidenlaw.com

Rating: 7.76/10

Steiden Law Offices

260 Northland Blvd Ste 129
Cincinnati, OH, 45246-4908
(513) 888-8888
http://www.steidenlaw.com

Rating: 7.85/10

Smart Money Management, LLC

5577 Airport Hwy STE 200
Toledo, OH, 43615-7364
(419) 830-4104
http://smartmoneyforlife.com

Rating: 7.95/10

Riley & Associates, LLC

145 Warner Dr
Englewood, OH, 45322
(937) 270-1732

Rating: 8.05/10

Realistic Fi-cial

5757 Spring Hill Rd
Newark, OH, 43056-8023
(740) 323-0096

Rating: 8.14/10

R. Dean Snyder Attorney at Law

5127 Pleasant Avenue
Fairfield, OH, 45014-2622
(513) 868-1500
http://www.deansnyderattorney.com

Rating: 8.24/10

National Association of Credit Management-OH

PO Box 29192
Columbus, OH, 43229-0192
(614) 882-8201

Rating: 8.34/10

KTL Performance Mortgage, Ltd.

700 Wayne St.
Greenville, OH, 45331
(937) 548-8222
http://www.performancemortgageone.com

Rating: 8.44/10

Knight Credit Consultants, LLC

175 S 3rd St Ste 200
Columbus, OH, 43215-5194
(888) 512-5221
http://www.knightcreditconsultants.com/

Rating: 8.55/10

Hawthorne Fi-cial Group, The

7550 Slate Ridge Blvd
Reynoldsburg, OH, 43068-3156
(614) 864-0662

Rating: 8.65/10

First Action Services – Zanesville

PO Box 812
Zanesville, OH, 43702-0812
(740) 450-4617

Rating: 8.76/10

First Action Services

171 East King St
South Zanesville, OH, 43701-4621
(740) 450-4617

Rating: 8.86/10

Explore Debt Solutions

1720 Schrock Rd.
Columbus, OH, 43229
(614) 372-6873

Rating: 8.97/10

DebtHelp Inc.

1103 Schrock Rd Ste 106
Columbus, OH, 43229-1179
(888) 254-4516
http://www.debthelpcc.com

Rating: 9.08/10

Debt Management Consultants

P.O. Box 83452
Columbus, OH, 43203
(614) 221-4040
http://www.debtmanagementconsultants.org

Rating: 9.19/10

Budget Media Group

750 W Rich St
Columbus, OH, 43222-1691
(614) 429-3756

Rating: 9.3/10

Ohio Debt Statistics

Total Debt$33,493,235
Debt Per Capita$2,851
Debt Per Capita Rank32

Source: World Population Review

Ohio Credit Card Debt Statistics

Average Credit Card Balance697
Average Credit Score$5,511
Avg Credit Card Balance Rank (1 = Highest Balance)47
Avg Credit Score Rank (1=Highest Score)6

Source: Experian

Mortgage Debt in Ohio

Mortgage Debt Per Capita$122,765
Avg 30 yr Mortgage Rate3.95%
Avg 15 yr Mortgage Rate3.53%
Median Home Value$142,600
Avg Outstanding Mortgage Debt$122,939
Difference Between Value and Mortgage Debt$19,661
Avg Homeowner FICO Score705

Source: Federal Reserve, Value Penguin, Experian

Payday Loan Debt in Ohio

Payday Loan Legal StatusLegal
Max Payday Loan Amount1000
Max Payday Loan Term1 year
Max Payday Loan APR28%

Source: Ohio Government Website

Unemployment and the Economy of Ohio

Poverty Rate – Population15.90%
Poverty Rate – Population – Rank20
Poverty Rate – Family11.70%
Poverty Rate – Family – Rank20
Unemployment Rate (March 2020)5.5
Unemployment Rank42
GDP Growth3.5
GDP Growth Rank6

Source: US Census, Bureau of Labor Statistics

Student Loan Debt in Ohio

Percent of Population with Student Loans62%
Average Student Loan debt$30,629
Average Debt of New Graduates (2017-18)$30,323
Average Debt Ranknan
Percent of Graduates with Debt (2017-18)60%
Percent with Debt Ranknan
Usable Institutions (BA-Granting)33
Percent of Graduates at Schools with Usable Data71%
Nonfederal debt of graduates, as percent of total debt21%
Fall enrollment – Undergraduate total (IPEDS)576,136
Tuition and Fees (in-district/in-state)$15,272
Total Cost of Attendance (on-campus)$33,440
Percent of Institutional Grants that are Need-Based65%

Source: Value Penguin, TICAS

Cost of Living in Ohio

Annual Mean Wage (All Occupations)$48,220
Median Monthly Rent$1,113
Value of a Dollar$1.12
Cost of Living90.8
Cost of Living Rank15
Grocery Cost Index98.7
Housing Cost Index73.6
Utilities Cost Index91.8
Transportation Cost Index96.7
Miscellaneous Cost Index97.6

Source: World Population Review