Experian: Seattle residents most likely to be saddled with big debts
Residents of Seattle boast an average consumer debt nearly $2,000 higher than the national average, market analysis firm Experian announced Thursday. Debt help, therefore, could be very much in demand among residents of the northwestern port city.
However, a spokeswoman for Experian said that Seattle’s residents were very careful in managing their often-extensive debts, saying that few of them performed financially unwise actions like maxing out credit cards or missing payments. Maxine Sweet, the company’s vice president of public education, added that this resulted in generally higher credit scores for the denizens of Seattle.
Dallas and Denver trailed Seattle closely in Experian’s debt rankings, which listed the 20 largest American cities and their average levels of consumer debt. San Francisco, Miami, and Los Angeles were found to be carrying the lightest debt loads of the surveyed cities.
Consumers carrying significant amounts of debt must be careful to avoid falling further in, experts say. However, options like credit counseling and debt consolidation are always available to help ensure a modicum of fiscal stability.