Florida Debt Relief Guide
Floridians face some immense challenges with debt and personal finance in 2022. The average debt-to-income stands at 152 percent, according to the latest Federal Reserve Data. That means that the average Florida resident owes $1.52 in debt for every dollar they earn.
“The situation is unsustainable,” says Gary Herman, President of Consolidated Credit, “and unfortunately it is only getting worse. Home prices and rent are rising quickly, as are insurance rates. When you combine that with the rapid inflation we’ve seen nationwide, it puts Florida residents in a really tough position.”