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Consoladation Debt

Consoladation Debt
Daniel Cohen
UpdatedApr 10, 2024
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    1 min read

Consoladation Debt

When you typed "consoladation debt," did you mean "consolidation debt?" Many of us occasionally misspell words when we're in rush to find information online. "Consoladation debt" is a very common misspelling.

No matter how you spelled it, has the information, advice, and resources you need to consolidate your debts or decide which debt consolidation option is best for you. Once you've chosen a debt consolidation method, the Savings Center can help you apply for a loan from a member of our family of lenders.

Conquer Your Debt Today

Your debt doesn't have to weigh you down anymore. has everything you need to reduce your expenses, pay down your debt, and restore your credit rating. You'll find articles on a variety of debt-related topics, including:

The first step to getting out of debt is learning that you control your debt, not the other way around. can help you come out on top.

Dealing with debt

Mortgages, credit cards, student loans, personal loans, and auto loans are common types of debts. According to the NY Federal Reserve total household debt as of Q4 2023 was $17.503 trillion. Housing debt totaled $12.612 trillion and non-housing debt was $4.891 trillion.

According to data gathered by from a sample of credit reports, about 26% of people in the US have some kind of debt in collections. The median debt in collections is $1,739. Student loans and auto loans are common types of debt. Of people holding student debt, approximately 8% had student loans in collections. The national Auto/Retail debt delinquency rate was 4%.

The amount of debt and debt in collections vary by state. For example, in South Carolina, 37% have any kind of debt in collections and the median debt in collections is $2026. Medical debt is common and 22% have that in collections. The median medical debt in collections is $860.

Avoiding collections isn’t always possible. A sudden loss of employment, death in the family, or sickness can lead to financial hardship. Fortunately, there are many ways to deal with debt including an aggressive payment plan, debt consolidation loan, or a negotiated settlement.