The Best Utah Debt Consolidation Companies of 2020

Many Utah residents wrestle with medical, student, payday, credit card and other debt types. Even though The Beehive State has a growing economy with 4.2% GDP growth, and a fairly low unemployment rate of 3.6%, 12.80% of residents live below the poverty line. Many have trouble with debt.

The average Utahn has $2,271 in personal debt, plus $213,771 of mortgage debt for homeowners. On average, Utah residents carry a credit cardd balance of $5,960 and 38% of Utahns have student loan debt – $18,838 worth to be precise. Every year approximately 9,980 Utahns declare bankruptcy. If this is you, there are Utah debt consolidation options to help you reach your financial goals.

So whether you live in Salt Lake City, Ogden, West Jordan, or somewhere in-between, take charge of your financial situation and consider consolidating your debt load.

The Best Debt Consolidation Companies in Utah (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 Utah. 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.

White Pine Funding, LLC

7836 Danish Point Pl
Cottonwood Heights, UT, 84121-5781
(801) 365-8180
http://www.whitepinefunding.com

Rating: 8.7/10

Wasatch Credit Consulting, LLC

8819 S Redwood Rd Ste B1
West Jordan, UT, 84088-9278
(801) 615-0910
https://wasatchcredco.com/

Rating: 8.81/10

Vannova Legal, PLLC – Taylor

221 25th St
Taylor, UT, 84401-2301
(801) 210-7980
http://www.vannovalegal.com

Rating: 8.91/10

Vannova Legal, PLLC – Sandy

49 W 9000 S
Sandy, UT, 84070-2008
(801) 210-7980
http://www.vannovalegal.com

Rating: 9.02/10

Vannova Legal, PLLC

221 25th St
Ogden, UT, 84401-2301
(801) 210-7980
http://www.vannovalegal.com

Rating: 9.13/10

NO MORE Mortgage

2343 Deer Creek Way
Springville, UT, 84663
(801) 376-2788
http://cfo.nomoremortgage.com

Rating: 9.24/10

Murphy & Page Family Fi-cial

890 Heritage Park Blvd Ste 104
Layton, UT, 84041-5622
(801) 823-1212

Rating: 9.35/10

Money Management International, Inc.

2825 E. Cottonwood Parkway Ste. 500, Off. 570A
Salt Lake City, UT, 84121
(800) 308-2227
http://www.moneymanagement.org

Rating: 9.47/10

American Credit Foundation, Inc.

7720 S 700 E
Midvale, UT, 84047-2852
(801) 208-1000
http://www.debtguru.com

Rating: 9.58/10

AAA Fair Credit Foundation

230 W 200 S Ste 3104
Salt Lake City, UT, 84101-3428
(801) 483-0999
http://www.faircredit.org

Rating: 9.7/10

Utah Debt Statistics

Total Debt$7,453,346
Debt Per Capita$2,271
Debt Per Capita Rank36

Source: World Population Review

Utah Credit Card Debt Statistics

Average Credit Card Balance683
Average Credit Score$5,960
Avg Credit Card Balance Rank (1 = Highest Balance)32
Avg Credit Score Rank (1=Highest Score)22

Source: Experian

Mortgage Debt in Utah

Mortgage Debt Per Capita$213,771
Avg 30 yr Mortgage Rate3.88%
Avg 15 yr Mortgage Rate3.36%
Median Home Value$351,100
Avg Outstanding Mortgage Debt$216,213
Difference Between Value and Mortgage Debt$134,887
Avg Homeowner FICO Score716

Source: Federal Reserve, Value Penguin, Experian

Payday Loan Debt in Utah

Payday Loan Legal StatusLegal
Max Payday Loan AmountNo limit
Max Payday Loan Term70 days
Max Payday Loan APR658%

Source: Utah Government Website

Unemployment and the Economy of Utah

Poverty Rate – Population12.80%
Poverty Rate – Population – Rank37
Poverty Rate – Family9.40%
Poverty Rate – Family – Rank29
Unemployment Rate (March 2020)3.6
Unemployment Rank21
GDP Growth4.2
GDP Growth Rank2

Source: US Census, Bureau of Labor Statistics

Student Loan Debt in Utah

Percent of Population with Student Loans38%
Average Student Loan debt$18,838
Average Debt of New Graduates (2017-18)$19,728
Average Debt Ranknan
Percent of Graduates with Debt (2017-18)36%
Percent with Debt Ranknan
Usable Institutions (BA-Granting)8
Percent of Graduates at Schools with Usable Data63%
Nonfederal debt of graduates, as percent of total debt7%
Fall enrollment – Undergraduate total (IPEDS)302,216
Tuition and Fees (in-district/in-state)$7,524
Total Cost of Attendance (on-campus)$20,413
Percent of Institutional Grants that are Need-Based21%

Source: Value Penguin, TICAS

Cost of Living in Utah

Annual Mean Wage (All Occupations)$47,920
Median Monthly Rent$1,526
Value of a Dollar$1.03
Cost of Living98.4
Cost of Living Rank27
Grocery Cost Index98.5
Housing Cost Index93.6
Utilities Cost Index89.4
Transportation Cost Index108.6
Miscellaneous Cost Index96.0

Source: World Population Review