Seattle Showing
Highest Debt
The economy is trying to bounce back, but there are some areas
of the country that are going to take longer to bounce back than
others. Last month Seattle got the distinct privilege of being
the city with the highest per consumer debt burden. Experian
released the report recently, and it was definitely not a list
that anyone wants to be on. The city has an average per consumer
debt of $26,646 for March which is almost two thousand dollars
more than the national average of $24,775.
The other cities that made up the top five for highest debt per
person were Dallas, Denver, Atlanta and Phoenix. Although home
foreclosures are higher in states like Florida, their per person
debt ratio is actually lower. According to the company though,
even though they have a higher amount of debt per person, they
are not as bad off as other states are in terms of late
payments. Consumers there have lower late payments than other
cities’ consumers do, and they are not reaching the limits of
their credit cards as is seen in other debt plagued cities.
The report shows that these consumers are taking better care of
their debt and that they are more responsible than others are
when it comes to resolving credit card issues. Those that are
having a hard time with their debt have already turned to debt
consolidation to assist them, something other areas might want
to look at. Even though you have high debt there is no reason
why you can’t get a debt consolidation or some other form of
assistance to take control of the debt that you have.
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