The Best Missouri Debt Consolidation Companies of 2020

Many Missourians struggle with auto, credit card, medical, payday and other types of debt, so if that’s you, you’re not alone. Among the states, Missouri ranks below average in terms of unemployment, with 4.5% of the labor force unemployed. About 15.60% of the population and 11.10% of families live in poverty.

The average Missourian has $2,986 in personal debt, plus $139,320 of mortgage debt per capita. On average, residents have an open credit card balance of $5,421 and 58% of residents have a student loan, the average amount of which is $27,108 . Each year approximately 16,916 Missourians declare bankruptcy Fortunately for you, there are a number of Missouri debt consolidation options to help you get free from debt.

No matter whether you live in Saint Louis, Kansas City, Saint Louis, or somewhere else in the great state of Missouri, take charge of your financial situation and consider consolidating your debt load.

The Best Debt Consolidation Companies in Missouri (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 Missouri. 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.

Money Management International, Inc.

3636 S Geyer Rd Ste 100
Saint Louis, MO, 63127-1237
(800) 308-2227

Rating: 9.48/10

Alorica Inc

4315 Pickett Rd
Saint Joseph, MO, 64503-1600
(866) 256-7422

Rating: 9.6/10

Missouri Debt Statistics

Total Debt$18,419,751
Debt Per Capita$2,986
Debt Per Capita Rank28

Source: World Population Review

Missouri Credit Card Debt Statistics

Average Credit Card Balance647
Average Credit Score$5,421
Avg Credit Card Balance Rank (1 = Highest Balance)48
Avg Credit Score Rank (1=Highest Score)50

Source: Experian

Mortgage Debt in Missouri

Mortgage Debt Per Capita$139,320
Avg 30 yr Mortgage Rate4.03%
Avg 15 yr Mortgage Rate3.54%
Median Home Value$163,700
Avg Outstanding Mortgage Debt$139,545
Difference Between Value and Mortgage Debt$24,155
Avg Homeowner FICO Score701

Source: Federal Reserve, Value Penguin, Experian

Payday Loan Debt in Missouri

Payday Loan Legal StatusLegal
Max Payday Loan Amount500
Max Payday Loan Term31 days
Max Payday Loan APR443%

Source: Missouri Government Website

Unemployment and the Economy of Missouri

Poverty Rate – Population15.60%
Poverty Rate – Population – Rank22
Poverty Rate – Family11.10%
Poverty Rate – Family – Rank24
Unemployment Rate (March 2020)4.5
Unemployment Rank31
GDP Growth2.3
GDP Growth Rank24

Source: US Census, Bureau of Labor Statistics

Student Loan Debt in Missouri

Percent of Population with Student Loans58%
Average Student Loan debt$27,108
Average Debt of New Graduates (2017-18)$29,224
Average Debt Ranknan
Percent of Graduates with Debt (2017-18)58%
Percent with Debt Ranknan
Usable Institutions (BA-Granting)24
Percent of Graduates at Schools with Usable Data53%
Nonfederal debt of graduates, as percent of total debt14%
Fall enrollment – Undergraduate total (IPEDS)312,471
Tuition and Fees (in-district/in-state)$12,328
Total Cost of Attendance (on-campus)$27,858
Percent of Institutional Grants that are Need-Based73%

Source: Value Penguin, TICAS

Cost of Living in Missouri

Annual Mean Wage (All Occupations)$46,460
Median Monthly Rent$1,047
Value of a Dollar$1.12
Cost of Living87.1
Cost of Living Rank4
Grocery Cost Index96.6
Housing Cost Index70.6
Utilities Cost Index99.6
Transportation Cost Index87.3
Miscellaneous Cost Index95.7

Source: World Population Review