The Best West Virginia Debt Consolidation Companies of 2020

Many West Virginia residents wrestle with credit card, student, payday, medical and other debt types. West Virginia ranks below average in unemployment (5.2%) and has a concerning poverty rate of 18.10%.

The average West Virginian has $4,244 in personal debt, plus $110,729 of mortgage debt per capita. On average, residents have an open credit card balance of $5,547 and 74% of residents have a student loan, the average amount of which is $27,505 . Each year approximately 2,730 West Virginians declare bankruptcy If this is you, there are West Virginia debt consolidation options to help you reach your financial goals.

No matter whether you live in Charleston, Morgantown, Martinsburg, or somewhere else in the great state of West Virginia, take charge of your financial situation and consider consolidating your debt load.

The Best Debt Consolidation Companies in West Virginia (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 West Virginia. 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.

Consumer Debt Solutions

106 Patrick St.
Fairlea, WV, 24902
(954) 301-6724
http://www.leaddepot.org/

Rating: 9.6/10

West Virginia Debt Statistics

Total Debt$7,547,010
Debt Per Capita$4,244
Debt Per Capita Rank14

Source: World Population Review

West Virginia Credit Card Debt Statistics

Average Credit Card Balance658
Average Credit Score$5,547
Avg Credit Card Balance Rank (1 = Highest Balance)46
Avg Credit Score Rank (1=Highest Score)42

Source: Experian

Mortgage Debt in West Virginia

Mortgage Debt Per Capita$110,729
Avg 30 yr Mortgage Rate4.21%
Avg 15 yr Mortgage Rate3.75%
Median Home Value$99,000
Avg Outstanding Mortgage Debt$110,464
Difference Between Value and Mortgage Debt($11,464)
Avg Homeowner FICO Score687

Source: Federal Reserve, Value Penguin, Experian

Payday Loan Debt in West Virginia

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

Source: West Virginia Government Website

Unemployment and the Economy of West Virginia

Poverty Rate – Population18.10%
Poverty Rate – Population – Rank11
Poverty Rate – Family13.10%
Poverty Rate – Family – Rank13
Unemployment Rate (March 2020)6.1
Unemployment Rank49
GDP Growth5.2
GDP Growth Rank1

Source: US Census, Bureau of Labor Statistics

Student Loan Debt in West Virginia

Percent of Population with Student Loans74%
Average Student Loan debt$27,505
Average Debt of New Graduates (2017-18)$30,014
Average Debt Ranknan
Percent of Graduates with Debt (2017-18)65%
Percent with Debt Ranknan
Usable Institutions (BA-Granting)10
Percent of Graduates at Schools with Usable Data74%
Nonfederal debt of graduates, as percent of total debt19%
Fall enrollment – Undergraduate total (IPEDS)122,980
Tuition and Fees (in-district/in-state)$9,629
Total Cost of Attendance (on-campus)$24,268
Percent of Institutional Grants that are Need-Based33%

Source: Value Penguin, TICAS

Cost of Living in West Virginia

Annual Mean Wage (All Occupations)$42,370
Median Monthly Rent$888
Value of a Dollar$1.14
Cost of Living91.1
Cost of Living Rank17
Grocery Cost Index92.9
Housing Cost Index79.6
Utilities Cost Index89.0
Transportation Cost Index93.5
Miscellaneous Cost Index89.1

Source: World Population Review