Massachusetts · New England
Debt consolidation in Massachusetts
Adults in Massachusetts with a credit file carry $4,650 in credit card debt on average, 7% above the national $4,350. 10.33% of those balances are 90 or more days past due.
- $4,650
- card debt per adult, 13th of 51
- 10.33%
- of card balances 90+ days late (US 12.36%)
- +23.7%
- card debt growth since 2019 (US +28.3%)
What Massachusetts households owe
Card balances per adult are up 23.7% since 2019, slower than the national +28.3% (35th fastest of 51). Balances fell from $3,760 in 2019 to $3,190 in 2020, when spending dropped and stimulus paid down cards, then climbed back to $4,650 by 2025.
Card debt is the most expensive balance most households carry, which is why it is usually the first target for consolidation. In Massachusetts, cards, auto loans and student loans add up to $15,080 per adult, 3% below the national $15,470.
| Type | MA | US | MA change vs 2024 |
|---|---|---|---|
| Credit cards | $4,650 | $4,350 | +4.0% |
| Auto loans | $4,310 | $5,660 | +0.5% |
| Student loans | $6,120 | $5,460 | -1.6% |
| Mortgages | $58,200 | $44,300 | +1.1% |
| All household debt | $77,400 | $63,200 | +1.3% |
Personal loan rules in Massachusetts
Massachusetts caps licensed small loans of $6,000 or less at 23% interest plus a one-time $20 fee. Lenders charging more than 12% a year on these loans must hold a state small loan license.
- Loans of $6,000 or less made by licensed small loan companies: 23% per year plus a $20 administrative fee per loan (Mass. Gen. Laws ch. 140, § 100; 209 CMR 26.01)
The National Consumer Law Center puts the highest APR allowed in Massachusetts at 37% on a $500, six-month loan and 24% 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?, NCLC, December 2025 (Maps 1 and 2)).
Non-bank lenders need a state license to make these loans. License: Small Loan Company license (Mass. Gen. Laws ch. 140, § 96).
The 37% APR on a $500 loan reflects the $20 fee on top of 23% interest.
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: 209 CMR 26.01 Rate Order; Mass. Gen. Laws ch. 140, § 96, Small Loan Business; NCLC, Predatory Installment Lending in the States (2025), full report PDF (Maps 1 and 2, Appendix C); NCLC fact sheet, State APR Caps for $500, $2,000 and $10,000 Installment Loans (November 2024).
How many Massachusetts borrowers are behind
10.33% of credit card balances in Massachusetts were seriously delinquent (90+ days) at the end of 2025. That is 2.0 points below the national rate of 12.36%, placing Massachusetts 34th of 51 for card delinquency (1st is the highest). The rate rose 0.7 points in the past year, from 9.63% in 2024. In 2019 the share was 7.22%.
Auto loan delinquency in Massachusetts stood at 2.59% (US 5.18%), and student loan delinquency at 5.71% (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 .
Massachusetts next to its neighbors
Among the 6 New England states, Massachusetts has the 2nd highest card debt per adult.
- Connecticut: $4,960 per adult, 10.53% 90+ days late
- Massachusetts: $4,650 per adult, 10.33% 90+ days late
- New Hampshire: $4,500 per adult, 9.84% 90+ days late
- Rhode Island: $4,490 per adult, 11.38% 90+ days late
- Vermont: $3,790 per adult, 8.99% 90+ days late
- Maine: $3,760 per adult, 9.83% 90+ days late
Ten years of card debt in Massachusetts
Card debt per adult in Massachusetts has changed +42.6% since 2015 and +4.0% in the last year alone (US +4.1%).
| Year | MA | US |
|---|---|---|
| 2015 | $3,260 | $2,800 |
| 2019 | $3,760 | $3,390 |
| 2020 | $3,190 | $2,970 |
| 2024 | $4,470 | $4,180 |
| 2025 | $4,650 | $4,350 |
What consolidating could save at MA numbers
Take the Massachusetts average of $4,650 and pay it off in 36 months. At a 24% card APR the payment is about $182 a month and the interest about $1,918. With a 12% consolidation loan the payment drops to about $154 and the interest to about $910, a difference of $1,008.
People who carry a balance usually owe more than the per-adult average. On $11,500 the same comparison is $4,742 of card interest against $2,251 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.
Your options in Massachusetts
- Debt consolidation loan: one fixed payment and end date, worth it when the APR is clearly below your card rates. How to compare offers.
- 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.
- 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.
Checking a lender in Massachusetts
Non-bank consumer lenders in Massachusetts are licensed by the Massachusetts Division of Banks (DOB). Before you accept an offer, look up the lender's license. To report a problem, contact the Massachusetts Attorney General, Consumer Advocacy & Response Division or file with the CFPB. Never pay upfront fees for debt relief.
Massachusetts debt consolidation FAQ
How much credit card debt does the average person in Massachusetts have?
$4,650 per adult with a credit file at the end of 2025, according to New York Fed Consumer Credit Panel/Equifax data. That is 7% above the US figure of $4,350 and ranks 13th of 51. The figure includes people with no card balance, so people who do carry a balance typically owe more.
Are more people in Massachusetts falling behind on credit cards?
10.33% of card balances in Massachusetts were 90 or more days past due in 2025, compared with 7.22% in 2019 (up 3.1 points). The national rate was 12.36%.
Can a consolidation loan lower what borrowers in Massachusetts pay in interest?
It can if the loan APR is well below your card APRs. On a $4,650 balance paid off over 36 months, a 24% card APR costs about $1,918 in interest and a 12% loan about $910. Rates depend on your credit and the lender, loans are not available in every state, and fees can shrink the savings.
Does debt consolidation hurt your credit in Massachusetts?
Checking offers uses a soft inquiry and does not affect your score. Accepting a loan adds a hard inquiry and a new account, which can dip your score briefly, while paying down card balances usually helps over time.
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.