While a large number of consumers are struggling under tremendous credit card debt and other balances they were forced to take on during the recent national recession, those in some states have largely been able to avoid some of thoseproblems.
Residents of Oklahoma have the lowest average indebtedness in the country, owing just $126,027, according to a report from Yahoo Personal Finance based on statistics from Credit Karma. This marked a 3 percent decline from the same study last year, and was based on all types of debt – ranging from credit card debt to auto loans and mortgages – except student loan obligations.
West Virginia and Arkansas, at $127,535 and $128,460, respectively, were also in the top three, the report said. In addition, Mississippi was the only other state with less than $130,000 in average debts in the nation. Indiana, Kansas, North Dakota, Kentucky, Iowa and Nebraska were also listed in the top 10.
Credit card debt has been particularly troublesome for many consumers to become debt free because of the large amount many have to spend on necessities just to make ends meet these days.