The Best West Virginia Debt Consolidation Companies [Updated 2023]

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 16.3%.

The average West Virginian has $5,719 in credit card debt, but the state is among the lowest in the U.S. for per capita mortgage debt, at $$40,731. On average, 15% of residents have a student loan, the average amount of which is $31,690. In 2021, approximately 2,729 West Virginians declared bankruptcy. If you’re struggling with debt, 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

Finding a legitimate debt consolidation firm can be tough. We’ve done the research and picked the best debt consolidation firms in the state of West Virginia. Our criteria includes online reputation, breadth of services offered, and demonstration of expertise.

A American Debt Consolidation

  • Wheeling, WV 26003
  • (304) 232-1198
  • Rating: 5/5

Hinkle Law PLLC

  • 232 Capitol St Suite 208, Charleston, WV 25301
  • (304) 836-3471
  • Rating 5/5

West Virginia Debt Statistics

Total Debt$7,123,763,000
Debt Per Capita$3,869
Debt Per Capita Rank2

Source: World Population Review

West Virginia Credit Card Debt Statistics

Average Credit Card Balance$5,719
Average Credit Score679
Avg Credit Card Balance Rank (1 = Highest Balance)39
Avg Credit Score Rank (1=Highest Score)48

Source: Experian

Mortgage Debt in West Virginia

Mortgage Debt Per Capita$40,731
Avg 30 yr Mortgage Rate7%
Avg 15 yr Mortgage Rate6.2%
Median Home Value$146,997
Avg Outstanding Mortgage Debt$110,464,
Difference Between Value and Mortgage Debt36,533
Avg Homeowner FICO Score679

Source: Federal Reserve, Value Penguin, Experian

Payday Loan Debt in West Virginia

Payday Loan Legal StatusNot legal
Max Payday Loan AmountN/A
Max Payday Loan TermN/A
Max Payday Loan APRN/A

Source: West Virginia Government Website

Unemployment and the Economy of West Virginia

Poverty Rate – Population16.3%
Poverty Rate – Population – Rank7
Poverty Rate – Family11.8%
Poverty Rate – Family – Rank19
Unemployment Rate (as of December 2022)4.1
Unemployment Rank36
GDP Growth5.1
GDP Growth Rank7

Source: US Census, Bureau of Labor Statistics

Student Loan Debt in West Virginia

Percent of Population with Student Loans12.7%
Average Student Loan debt$33,012
Average Debt of New Graduates (2020-2021)$30,014
Average Debt RankN/A
Percent of Graduates with Debt (2020-2021)60%
Percent with Debt RankN/A
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)$44,330
Median Monthly Rent$747
Value of a Dollar$1.14
Cost of Living90.5
Cost of Living Rank45
Grocery Cost Index96.5
Housing Cost Index78.6
Utilities Cost Index89.4
Transportation Cost Index92.2
Miscellaneous Cost Index102.9

Source: World Population Review

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