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Atlanta’s credit card debt is above the national average Atlanta, GA

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Atlanta’s credit card debt is above the national average

bisinessman analyzing data

As the recession drags on, Americans are being forced to make difficult choices. Facing continuing unemployment and stagnant home values, many people in Georgia are using what money they have to make mortgage, car loans, and student loan payments, often having little money at the end of the month to buy groceries and other necessities. Because of this, the average amount of credit card debt remains high in Atlanta and other cities throughout the country.

In the U.S., the average consumer had approximately $4,200 in credit card debt at the end of 2010. Although this is a decrease of four percent from the previous year, the fact that credit card debt remains so high is somewhat worrisome. Moreover, some households have credit card debt that is equal to 17 percent of their income. It is easy to see how such high levels of debt can quickly become unmanageable.

Many U.S. cities have average credit card debt levels that are above the national average. San Antonio, Texas, wins the dubious honor of having the highest average credit card debt, with almost $5,200 in average debt. Analysts speculate that this is because city residents hold primarily working-class jobs, which traditionally bring lower paychecks. Jacksonville, Florida ranks a close second, with $5,115 in average credit card debt. Analysts say that Florida’s ongoing mortgage and housing market issues are likely behind its high amount of debt.

Ranked third is Atlanta, where Georgians have an average credit card debt of $4,960. This is more than 15 percent higher than the national average. Analysts believe that Atlanta’s high unemployment rate, which is also above the national average, has a lot to do with its credit card debt. In addition, the Atlanta housing market has struggled to recover at the rates of other cities’ markets, which has likely caused the reliance on credit card use.

Source: San Francisco Chronicle, “5 U.S. Cities With The Most Credit Card Debt”, Rachel Brown, 18 April 2011

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1718 Peachtree St NW, #385
Atlanta, GA 30309

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Gingold & Gingold LLC
5.0 / 5.0

Based on 28 reviews

Jack L.

They did an excellent job with my case. Jamie took the time to really listen and understand things. She delved into the details and was extremely knowledgeable and non judgmental. Very professional and they know what they are doing. Would definitely recommend!

All C.

Mr. Gingold was recommended by an attorney I had worked with previously. I met with Ira Gingold to discuss credit issues. He went over each specific issue thoroughly. He advised me of the potential outcomes. He did all this in one meeting for a very reasonable price. When we finished I was confident in moving forward with a resolution. He definitely wants to help people take the appropriate course of action for their circumstance.

Karen B.

Dear Mr Gingold, There are so many reasons to be thankful for all you have done and will do. Anyone who has ever had unfavorable experiences with an attorney or the legal system will feel the trepidation that I experienced once I realized that my situation seemed hopeless. It was by chance and happily good luck that I decided to put my future and sanity into your hands. I was mortified at having to deal with my debts by claiming bankruptcy. I remember in our first meeting how you assured me that I was not alone and should not feel ashamed. And, anyone in this position obviously does not have money to spare and you were clear about all the costs and allowing me to pay according to my own ability to do so. You advised me in all aspects of the law, but also, you were at each meeting incredibly supportive and complementary of my personal and professional plans. Anyone else in this situation should feel blessed to have access to your expertise and support.

Lyla B.

I thought the process of filing bankruptcy was going to be a difficult one. However, Gingold & Gingold treated me with respect and dignity from the moment I walked through their door. I had the pleasure of working with Jamie. She is very responsive, professional, and knowledgeable. She took the time and listened to my every concern and handled each and every one of them to my satisfaction. My experience with filing bankruptcy under Gingold & Gingold's representation exceeded my expectations in a major way. They gave me such a peace of mind. I am very pleased with my decision of going with Gingold & Gingold to represent me when I filed Chapter 13 bankruptcy.

Julie T.

Wow! I am finally out of debt and can say that I am debt free after completing my chapter 7 bankruptcy case with Gingold and Gingold. Mr dangled was very knowledgeable and direct with regard to my debt situation. there were no surprises and the case went as I was advised. The staff was also very helpful whenever I had a question. I will definitely recommend them in the future to my friends.

Sherard W.

I cannot say enough about this law firm. From the initial consultation to our discharge, the entire office kept me updated with every step of the entire process. I came to the Gingold after a bad experience with another law firm. Ira and Jamie immediately began treating me like family through this experience. In the end, they assisted with eliminating many debts including my 2nd mortgage. I cannot say enough about the experience and knowledge that Ira brought to the table from the office visits to the court time. Thank you very much for helping me through this tough time. Thank you.

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