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Debt Consol can be Short for Debt Consolidation

Debt Consol can be Short for Debt Consolidation
Daniel Cohen
UpdatedDec 2, 2022
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    1 min read

Debt Consol can be Short for Debt Consolidation

Were not able to find what you were looking for when you searched for debt consolidation? Sometime people search for the abbreviation debt consol to see if they can get better results. Sometimes you are in such a hurry that you hit enter and search for debt consol before you were able to complete your thought. Debt consol may be a shorter version of consolidation, but that does not mean that you need less information regarding options for your finances.

You have found the best information on debt consolidation.

Find out more about consolidating your debt and other options at Bills.com. With guides and articles on financial solutions, we have all the information that you will need to make good decisions. Visit our Debt Consolidation Savings Center to find out more about the services available to you.

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Bills.com brings you the information relevant to your finances and can help you find lenders to consolidate.

Debt statistics

If you are struggling with debt, you are not alone. According to the NY Federal Reserve total household debt as of Quarter Q2 2022 was $16.15 trillion. Student loan debt was $1.59 trillion and credit card debt was $0.89 trillion.

A significant percentage of people in the US are struggling with monthly payments and about 26% of households in the United States have debt in collections. According to data gathered by Urban.org from a sample of credit reports, the median debt in collections is $1,739. Credit card debt is prevalent and 3% have delinquent or derogatory card debt. The median debt in collections is $422.

Each state has its rate of delinquency and share of debts in collections. For example, in Louisiana credit card delinquency rate was 5%, and the median credit card debt was $355.

To maintain an excellent credit score it is vital to make timely payments. However, there are many circumstances that lead to late payments or debt in collections. The good news is that there are a lot of ways to deal with debt including debt consolidation and debt relief solutions.

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