average total debt decrease by region
DESCRIPTION
How did consumers across the country decrease their debt over the past year? Check out this infographic to find out!TRANSCRIPT
Average Total DebtDecrease by Region
Here at Credit Karma, we love analyzing data! This week,we decided to look at how each region of the United States
decreased their debt over the past year.
Not surprisingly, our data shows that the majority of Credit Karma members decreased their debt most significantly by paying off their mortgages. The numbers also show the merit of steady payoff—allocating one or two hundred dollars each month to debt payoff turns into thousands of dollars over just one year. Track your net cash flow and spending habits for free at www.CreditKarma.com.
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Calculations are based on 15,701 Credit Karma members who had a totaldebt decrease between June 2012 and May 2013.
$22,758over one year
Northeast
over one year$19,777Southeast
over one year$19,844Southwest
over one year$29,780West
$18,967Midwest
over one year
$0 $15,000 $25,000$10,000$5,000 $20,000 $30,000
Total Debt Decrease
Debt Decrease By Category
NortheastSoutheast
MidwestSouthwest
West
$14,134$11,861
$11,576$12,031
$21,045Mortgage Debt
NortheastSoutheast
MidwestSouthwest
West
$2,103$2,486
$2,068$3,207
$2,266Auto Loan Debt
NortheastSoutheast
MidwestSouthwest
West
$1,348$1,232
$1,166$1,307
$1,702Credit Card Debt
NortheastSoutheast
MidwestSouthwest
West
$1,309$914
$1,417$1,010
$913Student Loan Debt