Credit card debt is reaching an all-time high in the nation, and Georgians among those struggling the most.
Americans are racking up credit card debt, with a total of around $1.3 trillion. A recent study by the personal finance website WalletHub shows Georgia residents are among those taking the longest time to pay that debt off. John Kiernan is managing editor at the organization.
“Georgia came in at 11th, it’ll take the 11th longest to get out of debt for the average person in Georgia compared to people in other states,” according to Kiernan. “The average time frame that we calculated for people in Georgia is just shy of 13 months, so a little over a year based on standard minimum payments each month.”
The median credit card debt in the state is nearly $3,200.
