If you’re one of the many Ohioans struggling with credit card, student, payday, auto or other types of loans, you’re not alone. Ohio ranks below average in unemployment (3.5%) and has a concerning poverty rate of 15.90%.
The average Ohioan has $2,851 in personal debt, plus $122,765 of mortgage debt for homeowners. On average, Ohio residents carry a credit cardd balance of $5,511 and 62% of Ohioans have student loan debt – $30,629 worth to be precise. Every year approximately 37,102 Ohioans declare bankruptcy. Fortunately, there are plenty of Ohio debt consolidation options to get you to where you need to be financially.
So whether you live in Columbus, Cincinnati, Cleveland, or somewhere in-between, take charge of your financial situation and consider consolidating your debt load.
Table of Contents
The Best Debt Consolidation Companies in Ohio (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 Ohio. 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.
World Marketing Alliance
11421 Chester Rd
Cincinnati, OH, 45246
(513) 326-7000
–
Rating: 7.48/10
Sycamore Creek Fi-cial Services
1209 Hill Rd N RTS 07.22.08 Insuff Address
Pickerington, OH, 43147-8888
(614) 833-0405
–
Rating: 7.57/10
Steiden Law Offices – West Chester
8050 Becket Center Drive #131
West Chester, OH, 45069
(513) 888-8888
http://www.steidenlaw.com
Rating: 7.67/10
Steiden Law Offices – Maineville
2263 W US 22 and 3
Maineville, OH, 45039
(513) 888-8888
http://www.steidenlaw.com
Rating: 7.76/10
Steiden Law Offices
260 Northland Blvd Ste 129
Cincinnati, OH, 45246-4908
(513) 888-8888
http://www.steidenlaw.com
Rating: 7.85/10
Smart Money Management, LLC
5577 Airport Hwy STE 200
Toledo, OH, 43615-7364
(419) 830-4104
http://smartmoneyforlife.com
Rating: 7.95/10
Riley & Associates, LLC
145 Warner Dr
Englewood, OH, 45322
(937) 270-1732
–
Rating: 8.05/10
Realistic Fi-cial
5757 Spring Hill Rd
Newark, OH, 43056-8023
(740) 323-0096
–
Rating: 8.14/10
R. Dean Snyder Attorney at Law
5127 Pleasant Avenue
Fairfield, OH, 45014-2622
(513) 868-1500
http://www.deansnyderattorney.com
Rating: 8.24/10
National Association of Credit Management-OH
PO Box 29192
Columbus, OH, 43229-0192
(614) 882-8201
–
Rating: 8.34/10
KTL Performance Mortgage, Ltd.
700 Wayne St.
Greenville, OH, 45331
(937) 548-8222
http://www.performancemortgageone.com
Rating: 8.44/10
Knight Credit Consultants, LLC
175 S 3rd St Ste 200
Columbus, OH, 43215-5194
(888) 512-5221
http://www.knightcreditconsultants.com/
Rating: 8.55/10
Hawthorne Fi-cial Group, The
7550 Slate Ridge Blvd
Reynoldsburg, OH, 43068-3156
(614) 864-0662
–
Rating: 8.65/10
First Action Services – Zanesville
PO Box 812
Zanesville, OH, 43702-0812
(740) 450-4617
–
Rating: 8.76/10
First Action Services
171 East King St
South Zanesville, OH, 43701-4621
(740) 450-4617
–
Rating: 8.86/10
Explore Debt Solutions
1720 Schrock Rd.
Columbus, OH, 43229
(614) 372-6873
–
Rating: 8.97/10
DebtHelp Inc.
1103 Schrock Rd Ste 106
Columbus, OH, 43229-1179
(888) 254-4516
http://www.debthelpcc.com
Rating: 9.08/10
Debt Management Consultants
P.O. Box 83452
Columbus, OH, 43203
(614) 221-4040
http://www.debtmanagementconsultants.org
Rating: 9.19/10
Budget Media Group
750 W Rich St
Columbus, OH, 43222-1691
(614) 429-3756
–
Rating: 9.3/10
Ohio Debt Statistics
| Total Debt | $33,493,235 |
| Debt Per Capita | $2,851 |
| Debt Per Capita Rank | 32 |
Source: World Population Review
Ohio Credit Card Debt Statistics
| Average Credit Card Balance | 697 |
| Average Credit Score | $5,511 |
| Avg Credit Card Balance Rank (1 = Highest Balance) | 47 |
| Avg Credit Score Rank (1=Highest Score) | 6 |
Source: Experian
Mortgage Debt in Ohio
| Mortgage Debt Per Capita | $122,765 |
| Avg 30 yr Mortgage Rate | 3.95% |
| Avg 15 yr Mortgage Rate | 3.53% |
| Median Home Value | $142,600 |
| Avg Outstanding Mortgage Debt | $122,939 |
| Difference Between Value and Mortgage Debt | $19,661 |
| Avg Homeowner FICO Score | 705 |
Source: Federal Reserve, Value Penguin, Experian
Payday Loan Debt in Ohio
| Payday Loan Legal Status | Legal |
| Max Payday Loan Amount | 1000 |
| Max Payday Loan Term | 1 year |
| Max Payday Loan APR | 28% |
Source: Ohio Government Website
Unemployment and the Economy of Ohio
| Poverty Rate – Population | 15.90% |
| Poverty Rate – Population – Rank | 20 |
| Poverty Rate – Family | 11.70% |
| Poverty Rate – Family – Rank | 20 |
| Unemployment Rate (March 2020) | 5.5 |
| Unemployment Rank | 42 |
| GDP Growth | 3.5 |
| GDP Growth Rank | 6 |
Source: US Census, Bureau of Labor Statistics
Student Loan Debt in Ohio
| Percent of Population with Student Loans | 62% |
| Average Student Loan debt | $30,629 |
| Average Debt of New Graduates (2017-18) | $30,323 |
| Average Debt Rank | nan |
| Percent of Graduates with Debt (2017-18) | 60% |
| Percent with Debt Rank | nan |
| Usable Institutions (BA-Granting) | 33 |
| Percent of Graduates at Schools with Usable Data | 71% |
| Nonfederal debt of graduates, as percent of total debt | 21% |
| Fall enrollment – Undergraduate total (IPEDS) | 576,136 |
| Tuition and Fees (in-district/in-state) | $15,272 |
| Total Cost of Attendance (on-campus) | $33,440 |
| Percent of Institutional Grants that are Need-Based | 65% |
Source: Value Penguin, TICAS
Cost of Living in Ohio
| Annual Mean Wage (All Occupations) | $48,220 |
| Median Monthly Rent | $1,113 |
| Value of a Dollar | $1.12 |
| Cost of Living | 90.8 |
| Cost of Living Rank | 15 |
| Grocery Cost Index | 98.7 |
| Housing Cost Index | 73.6 |
| Utilities Cost Index | 91.8 |
| Transportation Cost Index | 96.7 |
| Miscellaneous Cost Index | 97.6 |
Source: World Population Review