A national ranking places Alabama 10th in the country:
10. Alabama
Average balance per credit card: $1,656
Change from Q2 2013: -$15
Change from Q2 2012: -$27
As a USA Today article points out, having a credit card balance is not necessarily bad...if you pay it off every month. It's letting
interest mount up that can be dangerous. And credit card
debt is high enough... people who borrow from the payday
loan/title pawn places can face triple digit interest rates and
find it impossible to get out from under it.
Having debt problems? Contact your local Consumer Credit Counseling related agency..like this one in Montgomery. Many of their services are free. You'll find a way to search other states on that page too. There are many scams out there, advertising ways out of debt when they are just ways to put your limited funds in their pocket. The CCC is a non-profit agency.
[Saturday Status is a regular feature of TimLennox.com]
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