States With Highest And Lowest Debt – Did Yours Make The List?
Posted by maira | January 24th, 2012 | General Information
Give yourself a high five! Err, rather give your fellow neighbor a high five. What’s the celebration? Americans have had less credit card debt by 11 percent since last year. Now you may not think that’s a big deal, but considering most of us are still struggling in this economy, it’s definitely something worth noting.
According to 24/7 Wall St, this can be an overall very positive change for everyone in the country. Credit Karma has released a report that lists the five states with the most and the least debt. For the ones where residents owe the most debt, they have high median household incomes. This happens to be the case with nine out of 10 states in the most debt. On the other hand, six out of ten states that have the least amount of debt have the lowest median incomes.
Another factor for the states with the most debt is the high cost of living relative to other states. Seven of the 10 states with the most debt have a very high cost of living, and therein lies the struggle to survive. There’s a reason why we say credit cards are for emergencies…
Finally, six of the 10 states with the most debt also fall among the 15 states with the highest average credit scores. And six of the 10 states with the least debt are among the 15 states with – well, you guessed it – the lowest credit scores. Is your head hurting yet?
Below is a list of the states with the least and most amount of debt:
Least Credit Card Debt
1) Wisconsin – Credit Card Debt: $5,062
2) Mississippi – $5,276
3) Alabama – $5,770
4) Utah – $5,816
5) Louisiana – $5,856
Most Credit Card Debt
1) Alaska – Credit Card Debt: $7,937
2) New Hampshire – $7,748
3) Connecticut – $7,730
4) New Jersey – $7,608
5) Colorado – $7,533
Tags: alaska, Credit Card Debt, credit card debt decline, credit report, debt factors, high cost of living, least credit card debt, lowest median incomes, most credit card debt, states with least debt, states with most debt, wisconsin
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