Many Wisconsinites wrestle with payday, student, auto, credit card and other debt types. Even though The Badger State has a reasonably strong economy with 2.9% GDP growth, and a fairly low unemployment rate of 3.4%, 13.30% of residents live below the poverty line. Many have trouble with debt.
The average Wisconsinite has $3,974 in personal debt, plus $138,935 of mortgage debt per capita. On average, residents have an open credit card balance of $5,363 and 64% of residents have a student loan, the average amount of which is $29,569 . Each year approximately 16,353 Wisconsinites declare bankruptcy. If this is you, there are Wisconsin debt consolidation options to help you reach your financial goals.
So whether you live in Milwaukee, Madison, Green Bay, or somewhere in-between, take charge of your financial situation and consider consolidating your debt load.
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The Best Debt Consolidation Companies in Wisconsin (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 Wisconsin. 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.
United Credit Service, Inc.
PO Box 740
Elkhorn, WI, 53121-0740
(262) 743-2902
https://www.aalliancecollects.com
Rating: 8.58/10
Summit Credit Union – West Milwaukee
2159 Miller Park Way
West Milwaukee, WI, 53219-5003
(414) 778-1000
http://www.summitcreditunion.com
Rating: 8.69/10
Summit Credit Union – Waukesha
1103 Spring City Lane
Waukesha, WI, 53186-5946
(414) 778-1000
http://www.summitcreditunion.com
Rating: 8.79/10
Summit Credit Union – Milwaukee
10015 W Greenfield Ave
Milwaukee, WI, 53214-3907
(414) 778-1000
http://www.summitcreditunion.com
Rating: 8.9/10
Summit Credit Union
7750 S Lovers Lane Rd
Franklin, WI, 53132-2289
(608) 243-5000
http://www.summitcreditunion.com
Rating: 9.01/10
Providence Home Lending
200 S Executive Dr Ste 120
Brookfield, WI, 53005-4216
(262) 255-2000
http://www.providencehomelending.com
Rating: 9.12/10
GreenPath Debt Solutions – West Allis
10101 W. Greenfield Ave, Ste 101
West Allis, WI, 53214-3953
(888) 776-6735
http://www.greenpath.com
Rating: 9.23/10
GreenPath Debt Solutions
5409 N Green Bay Ave
Milwaukee, WI, 53209-5006
(888) 776-6735
http://www.greenpath.com
Rating: 9.34/10
DeLadurantey Law Office, LLC
330 S Executive Dr Ste 109
Brookfield, WI, 53005-4215
(414) 377-0515
http://www.dela-law.com
Rating: 9.45/10
Debt Advisors Law Offices – Milwaukee
250 E Wisconsin Ave
Milwaukee, WI, 53202-4232
(414) 510-0743
http://www.mydebtadvisors.com
Rating: 9.57/10
Debt Advisors Law Offices
1025 56th St
Kenosha, WI, 53140-3737
(414) 755-2400
http://www.mydebtadvisors.com
Rating: 9.68/10
A Better Mortgage Company, Inc.
4379 S Howell Ave Ste 22
Milwaukee, WI, 53207-5053
(414) 486-7929
http://www.abettermortgageco.com
Rating: 9.8/10
Wisconsin Debt Statistics
| Total Debt | $23,252,381 |
| Debt Per Capita | $3,974 |
| Debt Per Capita Rank | 15 |
Source: World Population Review
Wisconsin Credit Card Debt Statistics
| Average Credit Card Balance | 696 |
| Average Credit Score | $5,363 |
| Avg Credit Card Balance Rank (1 = Highest Balance) | 49 |
| Avg Credit Score Rank (1=Highest Score) | 7 |
Source: Experian
Mortgage Debt in Wisconsin
| Mortgage Debt Per Capita | $138,935 |
| Avg 30 yr Mortgage Rate | 3.91% |
| Avg 15 yr Mortgage Rate | 3.39% |
| Median Home Value | $191,600 |
| Avg Outstanding Mortgage Debt | $138,789 |
| Difference Between Value and Mortgage Debt | $52,811 |
| Avg Homeowner FICO Score | 725 |
Source: Federal Reserve, Value Penguin, Experian
Payday Loan Debt in Wisconsin
| Payday Loan Legal Status | Legal |
| Max Payday Loan Amount | 1500 or 35% of gross monthly income |
| Max Payday Loan Term | 90 days |
| Max Payday Loan APR | 547% |
Source: Wisconsin Government Website
Unemployment and the Economy of Wisconsin
| Poverty Rate – Population | 13.30% |
| Poverty Rate – Population – Rank | 34 |
| Poverty Rate – Family | 9.00% |
| Poverty Rate – Family – Rank | 35 |
| Unemployment Rate (March 2020) | 3.4 |
| Unemployment Rank | 17 |
| GDP Growth | 2.9 |
| GDP Growth Rank | 2 |
Source: US Census, Bureau of Labor Statistics
Student Loan Debt in Wisconsin
| Percent of Population with Student Loans | 64% |
| Average Student Loan debt | $29,569 |
| Average Debt of New Graduates (2017-18) | $31,705 |
| Average Debt Rank | nan |
| Percent of Graduates with Debt (2017-18) | 64% |
| Percent with Debt Rank | nan |
| Usable Institutions (BA-Granting) | 21 |
| Percent of Graduates at Schools with Usable Data | 72% |
| Nonfederal debt of graduates, as percent of total debt | 23% |
| Fall enrollment – Undergraduate total (IPEDS) | 302,682 |
| Tuition and Fees (in-district/in-state) | $13,383 |
| Total Cost of Attendance (on-campus) | $27,926 |
| Percent of Institutional Grants that are Need-Based | 73% |
Source: Value Penguin, TICAS
Cost of Living in Wisconsin
| Annual Mean Wage (All Occupations) | $47,350 |
| Median Monthly Rent | $1,141 |
| Value of a Dollar | $1.08 |
| Cost of Living | 97.3 |
| Cost of Living Rank | 25 |
| Grocery Cost Index | 100.7 |
| Housing Cost Index | 91.4 |
| Utilities Cost Index | 98.9 |
| Transportation Cost Index | 98.1 |
| Miscellaneous Cost Index | 115.2 |
Source: World Population Review