CreditKarma.com released data from the consumer credit climate report compiled of more than 442,102 consumers in February 2012. The results showed a slight increase in consumer credit spending since January 2012. CreditKarma.com reported that the average American consumer held more than $170,000 in debt, which was attributed to home mortgages and more than $46,000 in home equity loan debt. Another debt that Americans are struggling to reduce is their student loan debt, which averages around $28,000 per person.
Not only has credit card debt increased, consumer credit scores have decreased two points since January 2012. The average American consumer credit score is 659. Credit score averages tend to be higher in states like New Jersey and Massachusetts. Credit scores in states like Mississippi and Louisiana tend to be lower, and are attributed to the lower cost of living.
To read more on this story visit: http://www.marketwatch.com/story/credit-card-debt-remains-stable-according-to-creditkarmacom-2012-03-14.
If you are in a financial crisis and are considering filing bankruptcy, contact an experienced attorney who can advise you of all of your options. Since 1996 Kingcade & Garcia, P.A. has been helping people from all walks of life build a better tomorrow. Our attorneys’ help thousands of people every year take advantage of their rights under bankruptcy protection to restart, rebuild and recover. The day you hire our firm, we will contact your creditors to stop the harassment. You can also find useful consumer information on the Kingcade & Garcia, P.A. website at www.miamibankruptcy.com.
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