The Best Washington Debt Consolidation Companies of 2020

Many Washington residents wrestle with auto, medical, credit card, payday and other debt types. Washington ranks in the bottom half of the country in terms of unemployment, with a rate of 5.1%. Approximately 13.60% of the population and 9.10% of families live in poverty.

The average Washingtonian has $4,287 in personal debt, plus $262,641 of mortgage debt per capita. On average, residents have an open credit card balance of $6,592 and 52% of residents have a student loan, the average amount of which is $23,936 . Each year approximately 21,967 Washingtonians declare bankruptcy Fortunately, there are plenty of Washington debt consolidation options to help reduce your debt burden.

No matter whether you live in Seattle, Spokane, Tacoma, or somewhere else in the great state of Washington, take charge of your financial situation and consider consolidating your debt load.

The Best Debt Consolidation Companies in Washington (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 Washington. 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.

Strong, Jacob & Associates LLC

33530 1st Way S Ste 102
Federal Way, WA, 98003-7332
(844) 598-3328
http://www.strongjacob.com

Rating: 8.63/10

S & M Debt Management Services LLC

1103 134th St SW
Everett, WA, 98204-6333
(952) 388-3234

Rating: 8.73/10

Reed Consulting Inc

PO Box 13980
Mill Creek, WA, 98082-1980
(425) 357-9089
http://www.fi-cialaid4you.com

Rating: 8.84/10

Money Management International, Inc.

6100 219th St SW Ste 480
Mountlake Ter, WA, 98043-2222
(800) 308-2227
http://www.moneymanagement.org

Rating: 8.94/10

Ink’d Out Credit Solutions – Tacoma

1706 153rd St E
Tacoma, WA, 98445-2439
(253) 426-5019

Rating: 9.05/10

#REF!

11012 Canyon Rd E Ste 180
Puyallup, WA, 98373-4200
(253) 426-5019

Rating: 9.16/10

Debt Management Consultants of Washington

4630 200th St SW, Ste G-2
Lynnwood, WA, 98036
(425) 776-7050

Rating: 9.27/10

Credit Resources of WA

1801 West Bay Dr NW Ste 102B
Olympia, WA, 98502-4310
(360) 956-1014
http://www.crow4u.com

Rating: 9.39/10

Aegis Credit Systems, LLC

114 Alaskan Way S STE 403
Seattle, WA, 98104-2585
(888) 385-6742

Rating: 9.5/10

Washington Debt Statistics

Total Debt$33,427,752
Debt Per Capita$4,287
Debt Per Capita Rank13

Source: World Population Review

Washington Credit Card Debt Statistics

Average Credit Card Balance693
Average Credit Score$6,592
Avg Credit Card Balance Rank (1 = Highest Balance)11
Avg Credit Score Rank (1=Highest Score)10

Source: Experian

Mortgage Debt in Washington

Mortgage Debt Per Capita$262,641
Avg 30 yr Mortgage Rate3.99%
Avg 15 yr Mortgage Rate3.51%
Median Home Value$393,800
Avg Outstanding Mortgage Debt$263,681
Difference Between Value and Mortgage Debt$130,119
Avg Homeowner FICO Score723

Source: Federal Reserve, Value Penguin, Experian

Payday Loan Debt in Washington

Payday Loan Legal StatusLegal
Max Payday Loan Amount700 or 30% of gross monthly income
Max Payday Loan Term45 days
Max Payday Loan APR391%

Source: Washington Government Website

Unemployment and the Economy of Washington

Poverty Rate – Population13.60%
Poverty Rate – Population – Rank32
Poverty Rate – Family9.10%
Poverty Rate – Family – Rank34
Unemployment Rate (March 2020)5.1
Unemployment Rank38
GDP Growth3.1
GDP Growth Rank3

Source: US Census, Bureau of Labor Statistics

Student Loan Debt in Washington

Percent of Population with Student Loans52%
Average Student Loan debt$23,936
Average Debt of New Graduates (2017-18)$23,524
Average Debt Ranknan
Percent of Graduates with Debt (2017-18)48%
Percent with Debt Ranknan
Usable Institutions (BA-Granting)17
Percent of Graduates at Schools with Usable Data93%
Nonfederal debt of graduates, as percent of total debt15%
Fall enrollment – Undergraduate total (IPEDS)334,436
Tuition and Fees (in-district/in-state)$12,784
Total Cost of Attendance (on-campus)$30,133
Percent of Institutional Grants that are Need-Based70%

Source: Value Penguin, TICAS

Cost of Living in Washington

Annual Mean Wage (All Occupations)$59,410
Median Monthly Rent$1,838
Value of a Dollar$0.95
Cost of Living110.7
Cost of Living Rank38
Grocery Cost Index107.8
Housing Cost Index117.8
Utilities Cost Index88.7
Transportation Cost Index121.7
Miscellaneous Cost Index118.9

Source: World Population Review