Most Indebted States - Average Per Person

financiallyfit.yahoo.com...

The article says most people are paying down their debts faster than before.

Overall, debt — and particularly credit card debt — is dropping appreciably as the country is swept by two complimentary trends: a new commitment to fiscal responsibility and lending restrictions that are generally keeping credit out of the hands of people who aren't committed to using debt responsibly.

Where are America's most and least indebted consumers, according to Credit Karma's data? And how much progress (if any) have they made in paying off debts during the past year?

Here's the most indebt states from the article. (average per person I believe) These also exclude student loans.

State...........................Average debt............% change

1. California...............$336,169.....................-4%

2. Hawaii....................$321,258....................-7%

3. Maryland................$263,524.....................-0%

4. New Jersey.............$257,462.....................-1%

5. Washington...........$243,758.....................-2%

6. Massachusetts......$242,111.....................-0%

7. Virginia.................$239,186....................-1%

8. Connecticut..........$229,684.....................-3%

9. Colorado...............$219,899....................-1%

10. Nevada................$218,010....................-7%

And Ive always thought each person owes about $40,000 for the national debt?

Anyone else think the above is alot of debt?



And here's the least indebted states

1. Oklahoma............$126,027...................-3%

2. West Virginia.......$127,535...................-1%

3. Arkansas.............$128,460...................-0%

4. Mississippi..........$129,792..................-2%

5. Indiana................$132,618..................-3%

6. Kansas................$133,606..................-2%

7. North Dakota......$133,823..................+0%

8. Kentucky.............$136,441.................-1%

9. Iowa....................$139,415.................+0%

10. Nebraska..........$139,527..................-1%

The least indebt still seem to be a heck of alot of debt

Does this include debt per person that is owned by the government?

These numbers are not really unexpected. Ide make a bet that these average debt amounts correlate to the average home cost/average mortgage positively. As average home cost goes up so does average debt per person.

reply to post by buni11687


if you include mortgage, car, credit cards, state and federal debt, the numbers are probably right.

if you then consider equity, the wealth owned by individuals, subtract from debt, the real debt or wealth of a state's residents would be interresting.

if an individual has 1 million in savings, and only owes 200k on mortgage, no problem.

if no savings, owes 400k on mortgage and cars, you're a dime millionaire.

more statistics would be interresting.