If you’re one of the many Florida residents struggling with student, payday, credit card, auto or other types of loans, you’re one of many. Among the states, Florida ranks below average in terms of unemployment, with 4.3% of the labor force unemployed. About 16.70% of the population and 12.20% of families live in poverty.
The average Floridian has $1,311 in personal debt, plus $187,440 of mortgage debt per capita. On average, residents have an open credit card balance of $6,336 and 50% of residents have a student loan, the average amount of which is $24,041 . Each year approximately 45,992 Floridians declare bankruptcy If this is you, there are Florida debt consolidation options to help you get back on track financially.
No matter whether you live in Miami, Orlando, Jacksonville, or somewhere else in the great state of Florida, take charge of your financial situation and consider consolidating your debt load.
The Best Debt Consolidation Companies in Florida (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 Florida. 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.
Premier Consumer Credit Counseling, Inc.
5201 Blue Lagoon Dr STE 800
Miami, FL, 33126-7050
(305) 827-9080
http://www.premierconsumer.org
Rating: 8.03/10
One Focus Fi-cial LLC
3837 Hollywood Blvd STE A
Hollywood, FL, 33021-1243
(877) 972-9228
–
Rating: 8.13/10
National Debt Adjusters, Inc.
4301 South Flamingo Rd., #106-173
Davie, FL, 33330
(888) 782-3328
–
Rating: 8.23/10
Money Management International, Inc.
7200 Corporate Center Dr Ste. 200
Miami, FL, 33126
(800) 308-2227
http://www.moneymanagement.org
Rating: 8.33/10
McKenzie Fi-cial, Inc.
11 NW 36th Ave
Fort Lauderdale, FL, 33311-8330
(800) 262-5012
http://www.mckenziefi-cialinc.com
Rating: 8.43/10
Make a Way Ministries, Inc.
12030 SW 129th Court Suite 104
Miami, FL, 33186
(305) 271-5094
http://makeaway.net/
Rating: 8.53/10
First Choice Debt Resolution, LLC
1940 Harrison St., Suite 100-C
Hollywood, FL, 33020
(786) 581-4000
http://www.1debtres.com
Rating: 8.64/10
Encompass Recovery Group, LLC
2450 Hollywood Blvd STE 401
Hollywood, FL, 33020-6625
7542084081ext561
http://encompassrecoverygroup.com
Rating: 8.74/10
DebtServe
1104 Sunset Strip
Sunrise, FL, 33313
(954) 792-6799
http://www.debtserve.org
Rating: 8.85/10
Consolidated Credit Counseling Services, Inc.
5701 W Sunrise Blvd STE 200
Plantation, FL, 33313-6269
(800) 596-4680
http://www.consolidatedcredit.org/?partnerid=1424#back
Rating: 8.96/10
Brite Solutions, Inc.
3440 Hollywood Blvd STE 415
Hollywood, FL, 33021-6933
(877) 302-7483
http://www.britesolutionsinc.com
Rating: 9.07/10
Assurance Management, LLC
7955 NW 12th Street Suite 416
Doral, FL, 33126-1823
(800) 670-1015
http://www.pdlda.com
Rating: 9.18/10
Assurance Consumer Services LLC
3390 Mary St STE 305
Coconut Grove, FL, 33133-5258
(800) 670-1015
http://www.pdlda.com
Rating: 9.29/10
Apple Debt Care
7925 NW 12th St Ste 407
Doral, FL, 33126-1822
(888) 687-8872
http://www.appledebtcare.com
Rating: 9.4/10
Florida Debt Statistics
| Total Debt | $28,823,847 |
| Debt Per Capita | $1,311 |
| Debt Per Capita Rank | 46 |
Source: World Population Review
Florida Credit Card Debt Statistics
| Average Credit Card Balance | 672 |
| Average Credit Score | $6,336 |
| Avg Credit Card Balance Rank (1 = Highest Balance) | 19 |
| Avg Credit Score Rank (1=Highest Score) | 32 |
Source: Experian
Mortgage Debt in Florida
| Mortgage Debt Per Capita | $187,440 |
| Avg 30 yr Mortgage Rate | 3.97% |
| Avg 15 yr Mortgage Rate | 3.45% |
| Median Home Value | $237,900 |
| Avg Outstanding Mortgage Debt | $188,223 |
| Difference Between Value and Mortgage Debt | $49,677 |
| Avg Homeowner FICO Score | 694 |
Source: Federal Reserve, Value Penguin, Experian
Payday Loan Debt in Florida
| Payday Loan Legal Status | Legal |
| Max Payday Loan Amount | 500 |
| Max Payday Loan Term | 31 days |
| Max Payday Loan APR | 304% |
Source: Florida Government Website
Unemployment and the Economy of Florida
| Poverty Rate – Population | 16.70% |
| Poverty Rate – Population – Rank | 18 |
| Poverty Rate – Family | 12.20% |
| Poverty Rate – Family – Rank | 17 |
| Unemployment Rate (March 2020) | 4.3 |
| Unemployment Rank | 29 |
| GDP Growth | 2.9 |
| GDP Growth Rank | 19 |
Source: US Census, Bureau of Labor Statistics
Student Loan Debt in Florida
| Percent of Population with Student Loans | 50% |
| Average Student Loan debt | $24,041 |
| Average Debt of New Graduates (2017-18) | $24,428 |
| Average Debt Rank | nan |
| Percent of Graduates with Debt (2017-18) | 44% |
| Percent with Debt Rank | nan |
| Usable Institutions (BA-Granting) | 30 |
| Percent of Graduates at Schools with Usable Data | 69% |
| Nonfederal debt of graduates, as percent of total debt | 11% |
| Fall enrollment – Undergraduate total (IPEDS) | 996,282 |
| Tuition and Fees (in-district/in-state) | $10,013 |
| Total Cost of Attendance (on-campus) | $29,254 |
| Percent of Institutional Grants that are Need-Based | 64% |
Source: Value Penguin, TICAS
Cost of Living in Florida
| Annual Mean Wage (All Occupations) | $46,010 |
| Median Monthly Rent | $1,590 |
| Value of a Dollar | $1.00 |
| Cost of Living | 97.9 |
| Cost of Living Rank | 26 |
| Grocery Cost Index | 104.0 |
| Housing Cost Index | 95.4 |
| Utilities Cost Index | 102.2 |
| Transportation Cost Index | 96.7 |
| Miscellaneous Cost Index | 96.9 |
Source: World Population Review