Blogging for Change

Yee haw! SW has lowest rate of unpaid credit card debt

by Kim McGrigg on
8/7/2008
in Using Credit

A review of FDIC statistics shows that where you live can make a big difference in how you pay your credit card bills.  In fact, Southeasterners are quite a bit more likely to default on their credit card payments than their neighbors to the West.  As Jeremy Simon explains on CreditCards.com:

The Southeast's 2.78 percent of past due credit card debt is more than twice the 1.21 percentage listed for the Southwest region -- the area with the lowest amount of credit card debt past due.

The other regions fell somewhere in between. The Far West had the next-largest amount of unpaid credit card debt with 2.42 percent, while people in the Heartland had the second-best handle on their credit card debt: the North Central area reported 2.12 percent and the Midwest region posted 2.26 percent.

Statistic are based on the amount of credit card debt that is between 30 and 90 days past due.  The FDIC’s Southwest region includes Arkansas, Colorado, Louisiana, Mississippi, New Mexico, Oklahoma, Tennessee, and Texas.  The Southeast region includes Alabama, Florida, Georgia, North Carolina, South Carolina, Virginia, and West Virginia.

Have a theory about the reason for the difference?  Share it through the comments section.

Kim McGrigg is the former Manager of Community and Media Relations for MMI.

Recommended Articles

Retired man and his dog
Take Control of Your Credit
Your credit is much too important to leave to chance. If you have questions about your credit report and credit score, consider scheduling a one-on-one credit report review.
Learn More
Learn more
  • MMI is a proud member of the National Foundation for Credit Counseling (NFCC) National Foundation for Credit Counseling
    MMI is a longstanding member of the National Foundation for Credit Counseling® (NFCC®), the nation’s largest nonprofit financial counseling organization. Founded in 1951, the NFCC’s mission is to promote financially responsible behavior and help member organizations like MMI deliver the highest-quality financial education and counseling services.
  • Council on Accreditation - official seal Council On Accreditation
    MMI is proudly accredited by the Council on Accreditation (COA), an international, independent, nonprofit, human service accrediting organization. COA’s thorough, peer-reviewed accreditation process is designed to ensure that organizations like MMI are providing the highest standard of service and support for clients and employees alike.
  • Financial Counseling Association of America Financial Counseling Association of America
    MMI is a proud member of the Financial Counseling Association of America (FCAA), a national association representing financial counseling companies that provide consumer credit counseling, housing counseling, student loan counseling, bankruptcy counseling, debt management, and various financial education services.
  • Department of Housing and Urban Development - Equal Housing Opportunity Department of Housing and Urban Development
    MMI is certified by the U.S. Department of Housing and Urban Development (HUD) to provide consumer housing counseling. The mission of HUD is to create strong, sustainable, inclusive communities and quality affordable homes for all. HUD provides support services directly and through approved, local agencies like MMI.