The Best Pennsylvania Debt Consolidation Companies of 2020

If you’re one of the many Pennsylvanians struggling with student, medical, credit card, auto or other types of debt, you’re not alone. Pennsylvania ranks below average in unemployment (2.9%) and has a concerning poverty rate of 13.50%.

The average Pennsylvanian has $3,706 in personal debt, plus $145,206 of mortgage debt per capita. On average, residents have an open credit card balance of $6,012 and 67% of residents have a student loan, the average amount of which is $36,854 . Each year approximately 20,621 Pennsylvanians declare bankruptcy. Fortunately, there are plenty of Pennsylvania debt consolidation options to help you get back on track financially.

So whether you live in Philadelphia, Pittsburgh, Reading, or somewhere in-between, take charge of your financial situation and consider consolidating your debt load.

The Best Debt Consolidation Companies in Pennsylvania (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 Pennsylvania. 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.

Silco USA Debts Solution Corp

501 Spruce Street Apartment 1 R
Reading, PA, 19602
(757) 542-1785
http://www.silcousasolution.com

Rating: 8.79/10

New Vision PA Land Transfer

224 South 20th Street
Philadelphia, PA, 19103
(215) 751-0222

Rating: 8.9/10

Nationwide Credit, Inc. – Plymouth Meeting

620 West Germantown Pike, Suite 220
Plymouth Meeting, PA, 19462
(800) 456-4729
http://www.ncirm.com/

Rating: 9.01/10

Nationwide Credit, Inc.

P.O.Box 26314
Lehigh Valley, PA, 18002
(800) 564-2395
http://www.ncirm.com/

Rating: 9.12/10

Money Management International, Inc.

1 International Plz Ste 550
Philadelphia, PA, 19113-1528
(800) 308-2227
http://www.moneymanagement.org

Rating: 9.23/10

Home Investors, LLC

1233 Byberry Road
Bensalem, PA, 19020
(215) 253-4084
http://www.paymenteliminator.com

Rating: 9.34/10

First Step Consumer Credit Counseling

1444 Hamilton Street 502F
Allentown, PA, 18102
(610) 740-1550

Rating: 9.45/10

DebtQuest USA, LLC

3231 N 2nd St
Philadelphia, PA, 19140-5853
(800) 736-0660
http://debtquest.com

Rating: 9.57/10

Clearfield Mortgage Corporation, LLC

3070 Bristol Pike Building # 1 Suite 101
Bensalem, PA, 19020
(215) 244-0840

Rating: 9.68/10

Clarifi

1635 Market Street Floor 5
Philadelphia, PA, 19103-2224
(800) 989-2227
http://www.clarifi.org

Rating: 9.8/10

Pennsylvania Debt Statistics

Total Debt$47,519,575
Debt Per Capita$3,706
Debt Per Capita Rank20

Source: World Population Review

Pennsylvania Credit Card Debt Statistics

Average Credit Card Balance688
Average Credit Score$6,012
Avg Credit Card Balance Rank (1 = Highest Balance)29
Avg Credit Score Rank (1=Highest Score)15

Source: Experian

Mortgage Debt in Pennsylvania

Mortgage Debt Per Capita$145,206
Avg 30 yr Mortgage Rate3.90%
Avg 15 yr Mortgage Rate3.42%
Median Home Value$176,500
Avg Outstanding Mortgage Debt$145,358
Difference Between Value and Mortgage Debt$31,142
Avg Homeowner FICO Score713

Source: Federal Reserve, Value Penguin, Experian

Payday Loan Debt in Pennsylvania

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

Source: Pennsylvania Government Website

Unemployment and the Economy of Pennsylvania

Poverty Rate – Population13.50%
Poverty Rate – Population – Rank33
Poverty Rate – Family9.30%
Poverty Rate – Family – Rank32
Unemployment Rate (March 2020)6.0
Unemployment Rank47
GDP Growth2.9
GDP Growth Rank7

Source: US Census, Bureau of Labor Statistics

Student Loan Debt in Pennsylvania

Percent of Population with Student Loans67%
Average Student Loan debt$36,854
Average Debt of New Graduates (2017-18)$37,061
Average Debt Ranknan
Percent of Graduates with Debt (2017-18)65%
Percent with Debt Ranknan
Usable Institutions (BA-Granting)83
Percent of Graduates at Schools with Usable Data79%
Nonfederal debt of graduates, as percent of total debt33%
Fall enrollment – Undergraduate total (IPEDS)597,608
Tuition and Fees (in-district/in-state)$23,995
Total Cost of Attendance (on-campus)$42,887
Percent of Institutional Grants that are Need-Based82%

Source: Value Penguin, TICAS

Cost of Living in Pennsylvania

Annual Mean Wage (All Occupations)$50,030
Median Monthly Rent$1,242
Value of a Dollar$1.02
Cost of Living101.7
Cost of Living Rank32
Grocery Cost Index106.9
Housing Cost Index100.8
Utilities Cost Index106.0
Transportation Cost Index109.5
Miscellaneous Cost Index91.9

Source: World Population Review