Los Angeles, CA
Today, consumers are putting more debt on credit cards even after the recession. A recent report by credit reporting agency Equifax shows the nation’s 25 largest metropolitan areas have all increased credit card debt in the second quarter of this year.
Compare this to last year when seven of these cities actually decreased credit card debt over the same time period. These numbers can indicate consumer confidence, but in truth there is another story. One in three credit cards are now issued to a consumer with a sub-prime credit score. The largest five cities with increased credit card debt are Las Vegas, NV, Dallas, TX, Miami, FL, Orlando, FL, and Houston, TX. If you are a consumer struggling to repay debt, contact a qualified debt settlement lawyer. A qualified debt settlement law firm works on behalf of the consumer to negotiate for large reductions in the principal balance of a debt owed. This often gets the consumer out of debt faster and for less money.
Author: Kevin Fallon McCarthy