If you’re one of the many Wyomingites stuck in student, payday, auto, credit card or any other kind of personal debt, you’re not alone. Though The Equality State has a fairly strong economy with 3.3% GDP growth, and a reasonably low unemployment rate of 3.7%, many Wyoming residents struggle financially. In fact, 11.60% of residents live in poverty, and many struggle with debt
The average Wyomingite has $1,357 in personal debt, plus $184,625 of mortgage debt per capita. On average, residents have an open credit card balance of $6,245 and 47% of residents have a student loan, the average amount of which is $22,524 . Each year approximately 825 Wyomingites declare bankruptcy. Fortunately, there are plenty of Wyoming debt consolidation options to help you get back on track financially.
So whether you live in Cheyenne, Casper, Gillette, 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 Wyoming (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 Wyoming. 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.
No companies found that meet criteria
Wyoming Debt Statistics
| Total Debt | $769,721 |
| Debt Per Capita | $1,357 |
| Debt Per Capita Rank | 45 |
Source: World Population Review
Wyoming Credit Card Debt Statistics
| Average Credit Card Balance | 678 |
| Average Credit Score | $6,245 |
| Avg Credit Card Balance Rank (1 = Highest Balance) | 23 |
| Avg Credit Score Rank (1=Highest Score) | 28 |
Source: Experian
Mortgage Debt in Wyoming
| Mortgage Debt Per Capita | $184,625 |
| Avg 30 yr Mortgage Rate | 4.10% |
| Avg 15 yr Mortgage Rate | 3.61% |
| Median Home Value | $236,100 |
| Avg Outstanding Mortgage Debt | $185,414 |
| Difference Between Value and Mortgage Debt | $50,686 |
| Avg Homeowner FICO Score | 712 |
Source: Federal Reserve, Value Penguin, Experian
Payday Loan Debt in Wyoming
| Payday Loan Legal Status | Legal |
| Max Payday Loan Amount | Not specified |
| Max Payday Loan Term | 1 month |
| Max Payday Loan APR | 261% |
Source: Wyoming Government Website
Unemployment and the Economy of Wyoming
| Poverty Rate – Population | 11.60% |
| Poverty Rate – Population – Rank | 42 |
| Poverty Rate – Family | 8.00% |
| Poverty Rate – Family – Rank | 43 |
| Unemployment Rate (March 2020) | 3.7 |
| Unemployment Rank | 22 |
| GDP Growth | 3.3 |
| GDP Growth Rank | 1 |
Source: US Census, Bureau of Labor Statistics
Student Loan Debt in Wyoming
| Percent of Population with Student Loans | 47% |
| Average Student Loan debt | $22,524 |
| Average Debt of New Graduates (2017-18) | $24,474 |
| Average Debt Rank | nan |
| Percent of Graduates with Debt (2017-18) | 46% |
| Percent with Debt Rank | nan |
| Usable Institutions (BA-Granting) | 1 |
| Percent of Graduates at Schools with Usable Data | 100% |
| Nonfederal debt of graduates, as percent of total debt | 18% |
| Fall enrollment – Undergraduate total (IPEDS) | 30,459 |
| Tuition and Fees (in-district/in-state) | $4,001 |
| Total Cost of Attendance (on-campus) | $16,086 |
| Percent of Institutional Grants that are Need-Based | 10% |
Source: Value Penguin, TICAS
Cost of Living in Wyoming
| Annual Mean Wage (All Occupations) | $48,630 |
| Median Monthly Rent | $1,149 |
| Value of a Dollar | $1.03 |
| Cost of Living | 89.3 |
| Cost of Living Rank | 10 |
| Grocery Cost Index | 98.7 |
| Housing Cost Index | 72.3 |
| Utilities Cost Index | 87.3 |
| Transportation Cost Index | 99.3 |
| Miscellaneous Cost Index | 94.9 |
Source: World Population Review