Debt Consolidation Services in Tennessee

August 16, 2022

The Tennessee Economic Development Council states, "… we think the quality of life should be high and the cost of living should be low…" and there does seem to be evidence to back up that belief. Tennessee has the fifth-lowest cost of living and some of the lowest housing prices in the country.

Low cost of living does not guarantee financial security, however. Based on Freedom Debt Relief’s June Credit Card Utilization Data, the average credit card utilization of people looking for debt relief in Tennessee is 75%. By comparison, per Experian, the average credit card utilization in the US in 2021 was 25%. High credit card utilization, in general, implies a greater likelihood of needing debt relief services. Like people everywhere, residents of Tennessee can have trouble paying their bills. In that case, some form of credit card debt relief might be suitable. 

Debt Consolidation in Tennessee

While the numbers may make it look like all Tennessee residents are doing well, that’s not the case for everyone. Many residents are in debt and struggling to keep up. If you’re dealing with mounting debt, it may be time to look into credit card debt relief strategies.

If you want to get out of high-interest debt, consolidating your debt with a personal loan could be a smart choice. And since this type of loan simplifies your payment schedule into one predictable payment each month, it could even help you stay on top of managing your finances. But your ideal debt-clearing solution depends on several factors, including the type of debt you have, the amount of debt, and what kind of time frame you’re looking to resolve it in.

Debt consolidation loans are a popular solution for many residents of Tennessee. These loans can be used to consolidate debt from credit cards and other sources like medical bills or student loans. They can come from various places like a personal loan from a traditional bank or reputable debt consolidation company.

To qualify for a debt consolidation loan, you’ll need:

  • A clean credit history

  • A good credit score

  • Reliable income to pay back the loan

  • A healthy debt-to-income (DTI) ratio.

The debt-to-income ratio means that if the amount you owe is too high compared to the amount you earn, your DTI won’t be considered healthy. If you’re carrying too much debt in relation to what you’re earning, lenders may be wary of giving you a loan. If that’s the case, you should consider one of the other options available like a debt management program.


Request a free debt evaluation to find out how we could help you:

  • Resolve your debt faster
  • Significantly reduce what you owe
  • Make one low monthly program payment

There’s a lot of confusing information and disreputable companies out there so it’s important to have all the details at hand before you embark on your journey to financial freedom. It’s important to use the right strategy and the right lender. Visit Freedom Debt Relief or call 800-910-0065 for a free debt evaluation.

Our Certified Debt Consultants will consider the specific details of your situation and recommend the best solution for you. In fact, our employees are so committed to helping you, if our programs don’t work for you, they’ll even recommend other companies that may suit you better! Our goal at Freedom Debt Relief is to help you deal with your debt once and for all—regardless of the method or who’s offering it.

End Your Debt

Find out how our program could help.

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    One low monthly program deposit
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    Settlements for less than owed
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    Debt could be resolved in 24-48 months