The Best Idaho Debt Consolidation Companies [Updated 2023]

Many Idahoans wrestle with auto, credit card, payday, medical and other debt types. Even though The Gem State has a rapidly growing economy with 4.4% GDP growth, and a extremely low unemployment rate of 2.6% (#3 of all states), 10.1% of residents live below the poverty line. Many struggle with debt.

The average Idahoan has $2,621 in credit card debt, plus $202,278 of mortgage debt for homeowners. On average, 13% of Idahoans have student loan debt – $26,228 worth, to be precise. In 2021, approximately 2,118 Idahoans declared bankruptcy. Fortunately, there are plenty of Idaho debt consolidation options to get you to where you need to be financially.

So whether you live in Boise, Nampa, Idaho Falls, or somewhere in-between, take charge of your financial situation and consider consolidating your debt load.

The Best Debt Consolidation Company in Idaho

Finding a legit debt consolidation firm can be tough. We’ve done the research and picked the best debt consolidation firm in the state of Idaho. 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.

Debt Reduction Services

6213 N Cloverdale Rd Ste 100
Boise, ID, 83713-4912
(208) 378-0200

Rating: 4.9/5

Idaho Debt Statistics

Total Debt$33.5 billion
Debt Per Capita$18,611
Debt Per Capita Rank33

Source: World Population Review

Idaho Credit Card Debt Statistics

Average Credit Card Balance$2,621
Average Credit Score727
Avg Credit Card Balance Rank (1 = Highest Balance)42
Avg Credit Score Rank (1=Highest Score)11

Source: Experian

Mortgage Debt in Idaho

Mortgage Debt Per Capita$202,278
Avg 30 yr Mortgage Rate6.5%
Avg 15 yr Mortgage Rate6%
Median Home Value$465,160
Avg Outstanding Mortgage Debt$203,956
Difference Between Value and Mortgage Debt$261,204
Avg Homeowner FICO Score727

Source: Federal Reserve, Value Penguin, Experian

Payday Loan Debt in Idaho

Payday Loan Legal StatusLegal
Max Payday Loan Amount1,000
Max Payday Loan TermUnspecified
Max Payday Loan APR652%

Source: Idaho Government Website

Unemployment and the Economy of Idaho

Poverty Rate – Population10.9%
Poverty Rate – Population – Rank28
Poverty Rate – Family7.5%
Poverty Rate – Family – Rank17
Unemployment Rate (February 2023)2.6
Unemployment Rank3
GDP Growth4.4
GDP Growth Rank12

Source: US Census, Bureau of Labor Statistics

Student Loan Debt in Idaho

Percent of Population with Student Loans11.9%
Average Student Loan debt$33,012
Average Debt of New Graduates (2020-2021)$28,075
Average Debt RankN/A
Percent of Graduates with Debt (2020-2021)57%
Percent with Debt Ranknan
Usable Institutions (BA-Granting)6
Percent of Graduates at Schools with Usable Data61%
Nonfederal debt of graduates, as percent of total debt7%
Fall enrollment – Undergraduate total (IPEDS)125,100
Tuition and Fees (in-district/in-state)$6,578
Total Cost of Attendance (on-campus)$18,352
Percent of Institutional Grants that are Need-Based29%

Source: Value Penguin, TICAS

Cost of Living in Idaho

Annual Mean Wage (All Occupations)$47,580
Median Monthly Rent$894
Value of a Dollar$1.08
Cost of Living102.1
Cost of Living Rank12
Grocery Cost Index93.8
Housing Cost Index110.4
Utilities Cost Index82.3
Transportation Cost Index111.7
Miscellaneous Cost Index100.9

Source: World Population Review

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