Consolidating debt in Kentucky can be a great way to lower your bills and make paying all your credit cards and other debts cheaper and easier.
How Much Debt is the Average Kentucky Resident in?
At 41.9 percent, Kentucky has one of the highest debt default rates in the country. Medical debt, student loan debt, and credit card debt were the leading reasons of high debt rates.
Kentucky ranks 27th in credit card debt, with an average of $7,040 per family. They have a credit score of 663 out of 669, which is marginally below the national average. In addition, student loans cost an average of more than $30,000 per student.
Best Debt Consolidation Loans in Kentucky
Upgrade is a debt consolidation lender for those in Kentucky, APR is 5.94-35.97%. The term is 3-5 years and a max of $50,000.
Lightstream is a debt consolidation lender which has an APR of 4.98% with a loan term of 2-7 years. Their max loan size is $100,000.
Best Egg is a debt consolidator for Kentucky, APR is 5.99% for 3-5 years. The max loan is $50,000.
SoFi is a debt consolidator for Kentucky, APR 4.99-19.63%. The term is 1-5 years with a maximum of $100,000.
PenFed offers debt consolidation loans in Kentucky. The APR is from 5.99 – 17.99% for 1-5 years with a maximum of $50,000.
Avant is a debt consolidator than has an APR of 9.95 – 35.99% for 2-5 years. The maximum loan amount is $35,000.
LendingClub‘s debt consolidation loans have an APR 7-35%. The loan term is 3-5 years and the max you can borrow is $40,000.
Freedom Debt Relief also offers debt consolidation across the country but they don’t publicize their rates.
Check out a full list of debt consolidation lenders for Kentucky here.