Study: Consumer debt growing in some American urban centers

An interesting article regarding the results of a recent study analyzing and comparing the current personal debt levels and credit scores of Americans in different cities.  

A recent Credit Trends study by credit reporting company (CRC) Experian analyzed current personal debt levels and credit scores for residents of the 20 most populous metropolitan areas in the U.S. Of the cities examined, Detroit residents had the lowest average debt ($23,604), while Dallas residents had the highest ($28,240).

The study also compared the current debt levels to those of four years ago and found that Detroit had decreased its average personal debt by 7.1 percent, while Dallas’s average personal debt amount increased 7.8 percent since 2010.

San Diego residents had the highest rise in average personal debt, an 11 percent increase from $23,797 in 2010 to $26,423 in 2014. Nationwide, average debt increased 5 percent to $25,927, compared with $24,678 four years ago.

Read the full article.  

 

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