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Debt consolidation may help deal with paying bills as Seattle posts highest average owed
By Peggy Stillwell on May 14th, 2010
A recent report from Experian highlighted the cities with the top per-consumer debt burden, with Seattle taking the top spot.
That city saw an average debt of $26,646 in March, which was nearly $2,000 more than the national average of $24,775. However, Maxine Sweet, vice president of public education for the company, said that though debt was high in Seattle, consumers there have fewer late payments and are not reaching credit card limits.
As a result, citizens there are taking steps to make sure they take care of their credit scores.
"It's important to look at the whole picture when evaluating how consumers are actually managing their credit," Sweet said.
The other cities rounding out the top five in average debt for consumer were: Dallas, Denver, Atlanta and Phoenix. Experian noted there are ways for people in these cities - and for consumers across the nation - to make sure they handle their debt properly, including setting up a budget and paying bills on time.
Those who are having trouble paying their bills on time may consider other options, including debt consolidation. This option makes dealing with finances easier by reducing what is owed into one statement.
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