District of Columbia Debt Consolidation
Credit card debt in Washington, D.C. is higher than the average debt in other parts of the country. According to the Center for Enterprise Development (CFED) D.C. residents had an average of $15,065 in revolving debt (including both credit cards and lines of credit) per borrower in the third quarter of 2012. The District of Columbia ranks highest in the nation for credit card debt in the U.S. on CFED’s “Assets and Opportunities Scorecard.” Yet CFED also says that Washington, D.C. ranks second in the country as one of the “best states” for bankruptcy, with just 1.5 out of 1,000 residents filing for bankruptcy in 2011 compared to 4.4 out of 1,000 nationally. In addition, according to the credit reporting agency TransUnion, just 1.29% of D.C. credit card holders were 90 days late or more in the 2nd quarter of 2016, lower than the national average of 1.37%.
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