California Debt Relief Guide
As with most states across the country, California was heavily affected by the pandemic. Though the state is seeing an uptick in job openings in various sectors, California ranked 26th in average credit card debt by state with an average debt of $5,120 held in 2020. But by 2021, California ranked in at 1st place when it came to credit card debt increasing in Q2 2021. And with an ever-increasing cost of living, finding ways to decrease debt has become more and more difficult.
“Rising rent and housing prices are crippling California residents who are already struggling to meet their credit card payments,” says Gary Herman, President of Consolidated Credit. He continues, “And with the high unemployment rate in the state it is becoming even more difficult for people to decrease or even maintain their level of debt.”