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Debt Consolidation
ILLINOIS
"Thanks to CareOne, I was out of debt in October. I am so grateful to CareOne for all of their wisdom and great coaches!"Angela G., Mukilteo, WACareOne Customer
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Illinois Debt Consolidation: Illinois Residents Seek Relief

When you’re fighting debt, the most powerful ally you can have is someone who’s been there. Many of the providers of CareOne Debt Relief Services®; have stood in your shoes. Many of us—including our founder, Bernie Dancel—have struggled with debt. That’s why we’re passionate about helping people find solutions that work for their individual situation.

Why Do Residents of Illinois Seek Relief?

Every day, we speak with people across the country about their struggles. One of the most common stories we here is from young people seeking student loan debt relief in Illinois. It’s no wonder we here this a lot: the average amount of Illinois college debt in 2017, according to the Institute for College Access & Success¹, was a staggering $29,215. And, while it’s great that so many young people are receiving advanced degrees, it’s sobering to consider that 61% are carrying that much debt.

Nationally, student loan debt has reached about $1.5 Trillion in 2018, according to Forbes2. That’s more than credit cards and auto loans—but harder to pay off. Another article from the Federal Reserve Bank of Minnesota reports that delinquency rates on student loan debt have almost doubled since 20063. The article cites data that shows one in four student loan borrowers have past-due balances.

How to Find Debt Relief in Illinois

The providers of CareOne Debt Relief Services can help Illinois students better manage all their debt by first consolidating their unsecured credit card debt in order to free up their finances to tackle the student loans that are not eligible for debt relief plans.

We offer two different debt consolidation options: Debt Management Plans (DMPs) allow you to combine your unsecured debt into a single monthly payment, which can lead to lower interest rates and save time on repayment, while still allowing you to pay your debts in full. With a Debt Settlement Plan (DSP), you’ll make monthly deposits into an escrow account while we work to reach a settlement with your creditors. Once a settlement is reached for less than the amount that is actually owed, your payments will come from the money accrued in escrow. Remember, these plans aren’t bankruptcy or loans: they’re ways to make paying off your debt more manageable.

We’ve helped over five million people and we’ve got the power of experience behind us. If you’re looking for a customized debt relief in Illinois, our providers are ready to stand by you every step of the way.

For a free debt analysis, call one of our Certified Personal Finance Counselor® today at 1-888-694-3328. They’ll review your unique situation and present a debt consolidation action plan, customized just for you.

For more information about debt in other nearby states see our articles on Wisconsin, Michigan, Indiana, and Ohio

 

1 Institute for College Access & Success https://ticas.org/content/pub/student-debt-and-class-2017
2 Forbes https://www.forbes.com/sites/zackfriedman/2018/06/13/student-loan-debt-statistics-2018/#69aa8ede7310
3 Federal Reserve Bank of Minneapolis https://www.minneapolisfed.org/publications/fedgazette/a-rising-mountain-of-student-debt
4 Value Penguin https://www.valuepenguin.com/average-credit-card-debt#by-region
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