Texas Debt Relief Guide
The second most populous state in the country, the “Lone Star State” continues to draw people in with its low cost of living and lack of income tax. But even with those benefits, Texans and the state itself were heavily affected by the pandemic. They’ve also been hit by major extreme weather events, from Hurricane Harvey that devastated Houston and the Gulf Coast, to the severe winter storm in early 2021 that knocked power out statewide for weeks.
All these challenges could be contributing to the fact that Texas comes ranks sixth for consumer credit card debt in the U.S. Texans carry an average credit card balance of $5,848.
“Texans enjoy a lot of freedoms that typically help them keep costs low, such as wide-ranging freedom of choice for utilities,” explains Gary Herman, President of Consolidated Credit. “But those same freedoms have resulted in sky-rocketing costs this year. It’s made it difficult for Texans to budget, and many were forced to rely on credit to get by, as a result.”