Maryland · South Atlantic
Debt consolidation in Maryland
Adults in Maryland carry $5,090 in credit card debt on average, 5th highest of 51. At that balance the interest rate is the biggest lever you have.
- $5,090
- card debt per adult, 5th of 51
- 11.65%
- of card balances 90+ days late (US 12.36%)
- +23.5%
- card debt growth since 2019 (US +28.3%)
The interest on a typical Maryland balance
Take the Maryland average of $5,090 and pay it off in 36 months. At a 24% card APR the payment is about $200 a month and the interest about $2,099. With a 12% consolidation loan the payment drops to about $169 and the interest to about $996, a difference of $1,103.
People who carry a balance usually owe more than the per-adult average. On $12,500 the same comparison is $5,155 of card interest against $2,446 on the loan. These rates are examples, not offers. Your APR depends on your credit, income and the lender, and an origination fee reduces the savings. See what lenders look for.
Personal loan rules in Maryland
Maryland caps licensed consumer loans of $2,000 or less at 2.75% a month (33% a year) on the first $1,000 and 2% a month (24% a year) on the rest, and loans over $2,000 at 24% a year.
- Consumer Loan Law loans with original principal of $2,000 or less: 2.75% per month (33% per year) on the first $1,000, 2% per month (24% per year) on the rest (Md. Code, Com. Law § 12-306(a)(6)(i))
- Consumer Loan Law loans over $2,000 (law covers loans up to $25,000): 2% per month (24% per year) (Md. Code, Com. Law §§ 12-303(a), 12-306(a)(6)(ii))
The National Consumer Law Center puts the highest APR allowed in Maryland at 33% on a $500, six-month loan and 30% on a $2,000, two-year loan (Predatory Installment Lending in the States: How Well Do the States Protect Consumers Against High-Cost Installment Loans? (2025), NCLC, December 2025).
Non-bank lenders need a state license to make these loans. License: Consumer Lender License (Md. Code, Fin. Inst. § 11-203.1).
Interest must be simple interest on the actual unpaid balance, not charged in advance (§ 12-306(d)).
Compare rate caps in every state. Checked 2026-09-30. Summary for general information, not legal advice. Laws change, and banks chartered in other states may follow different rules. Sources: Md. Code, Com. Law § 12-306; Md. Code, Fin. Inst. § 11-203.1; Maryland OFR, Consumer Lenders; NCLC, Predatory Installment Lending in the States (2025), maps 1 and 2 and Appendix C; NCLC fact sheet: State APR Caps for $500, $2,000 and $10,000 Installment Loans (Nov. 2024).
Interest saved at different balances
With Maryland balances among the highest in the country, here is how the same 24% card vs 12% loan comparison scales. Each line is a 36-month payoff.
| Balance | Card payment | Loan payment | Interest saved |
|---|---|---|---|
| $5,000 | $196/mo | $166/mo | $1,083 |
| $10,000 | $392/mo | $332/mo | $2,167 |
| $12,500 | $490/mo | $415/mo | $2,708 |
| $20,000 | $785/mo | $664/mo | $4,333 |
Where the $5,090 fits in Maryland household debt
Card balances per adult are up 23.5% since 2019, slower than the national +28.3% (37th fastest of 51). Balances fell from $4,120 in 2019 to $3,600 in 2020, when spending dropped and stimulus paid down cards, then climbed back to $5,090 by 2025.
Card debt is the most expensive balance most households carry, which is why it is usually the first target for consolidation. In Maryland, cards, auto loans and student loans add up to $17,770 per adult, 15% above the national $15,470.
| Type | MD | US | MD change vs 2024 |
|---|---|---|---|
| Credit cards | $5,090 | $4,350 | +3.0% |
| Auto loans | $5,850 | $5,660 | -2.5% |
| Student loans | $6,830 | $5,460 | -2.7% |
| Mortgages | $59,910 | $44,300 | +2.8% |
| All household debt | $81,390 | $63,200 | +2.0% |
Your options in Maryland
- Debt consolidation loan: one fixed payment and end date, worth it when the APR is clearly below your card rates. How to compare offers.
- Balance transfer card: a 0% introductory APR can beat a loan if you can clear the balance before the promo ends. Balance transfer vs personal loan.
- Debt management plan: a nonprofit credit counseling agency negotiates lower rates with your card issuers. Useful if you cannot qualify for a loan. DMP vs consolidation.
Maryland next to its neighbors
Among the 9 South Atlantic states, Maryland has the 2nd highest card debt per adult.
- District of Columbia: $5,500 per adult, 11.16% 90+ days late
- Maryland: $5,090 per adult, 11.65% 90+ days late
- Florida: $5,050 per adult, 14.94% 90+ days late
- Virginia: $4,770 per adult, 9.85% 90+ days late
- Georgia: $4,610 per adult, 13.91% 90+ days late
- Delaware: $4,520 per adult, 12.22% 90+ days late
- North Carolina: $4,160 per adult, 12.5% 90+ days late
- South Carolina: $4,090 per adult, 13.36% 90+ days late
- West Virginia: $3,180 per adult, 13.72% 90+ days late
How many Maryland borrowers are behind
11.65% of credit card balances in Maryland were seriously delinquent (90+ days) at the end of 2025. That is 0.7 points below the national rate of 12.36%, placing Maryland 21st of 51 for card delinquency (1st is the highest). The rate rose 1.3 points in the past year, from 10.4% in 2024. In 2019 the share was 7.43%.
Auto loan delinquency in Maryland stood at 6% (US 5.18%), and student loan delinquency at 8.24% (US 8.25%). If your payments are current, you are in a better position to qualify for a lower rate. If not, read our guide to consolidation loans with bad credit .
Checking a lender in Maryland
Non-bank consumer lenders in Maryland are licensed by the Maryland Office of Financial Regulation. Before you accept an offer, look up the lender's license. To report a problem, file with the Maryland Attorney General, Consumer Protection Division or the CFPB. Never pay upfront fees for debt relief.
Maryland debt consolidation FAQ
How much credit card debt does the average person in Maryland have?
$5,090 per adult with a credit file at the end of 2025, according to New York Fed Consumer Credit Panel/Equifax data. That is 17% above the US figure of $4,350 and ranks 5th of 51. The figure includes people with no card balance, so people who do carry a balance typically owe more.
Are more people in Maryland falling behind on credit cards?
11.65% of card balances in Maryland were 90 or more days past due in 2025, compared with 7.43% in 2019 (up 4.2 points). The national rate was 12.36%.
Can a consolidation loan lower what borrowers in Maryland pay in interest?
It can if the loan APR is well below your card APRs. On a $5,090 balance paid off over 36 months, a 24% card APR costs about $2,099 in interest and a 12% loan about $996. Rates depend on your credit and the lender, loans are not available in every state, and fees can shrink the savings.
Is a consolidation loan worth it on a large Maryland balance?
The larger the balance, the more the rate matters. On $20,000 over 36 months, moving from a 24% card APR to a 12% loan saves about $4,333 in interest, before any origination fee.
Source: Federal Reserve Bank of New York Consumer Credit Panel/Equifax, State Level Household Debt Statistics 2003-2025 (February 2026), Q4 figures per adult with a credit file. Ranks and changes computed by Smart Debt Relief across 50 states and DC. Not affiliated with or endorsed by the Federal Reserve Bank of New York. Full state table and CSV.