High Credit Card Debt Among Georgia Residents

The experience of struggling with credit card debt is something that many Americans know too well. For Georgia residents in and around Lilburn, accruing credit card debt is often a necessity. When unexpected expenses arise, many of us turn to our credit cards with the expectation of paying off the amount charged. However, as time goes on and more unexpected expenses arise, paying off credit card debt becomes more and more difficult. According to recent data from Valdosta Today and Newsweek, Georgia residents have some of the highest credit card debt in the country. In addition, that data shows that Georgia residents seem to be taking on additional credit card debt at a higher rate than residents of many other states.

What do you need to know about the high credit card debt affecting Georgia residents? Our Georgia credit card debt lawyers can tell you more about the data and can discuss options for debt settlement.

Georgia Residents Have Some of the Highest Credit Card Balances in the Country 

According to the data reported in Valdosta Today, Georgia residents have the eighth-highest credit card debt in the country. Newsweek reports that Georgia is in the top-five states for highest credit card debt (alongside Mississippi, Louisiana, Alabama, and Texas). The data also showed that Georgia residents are more likely than residents of other states carrying credit card balances to be more than 30 days overdue on making a payment.

In Georgia, as of the end of 2024, the average amount of credit card debt is $8,657. That figure represents an increase of more than 3.7 percent from mid-2024 when the data was last analyzed. Other forms of debt are also especially high in Georgia. The data reported in Valdosta Today shows that Georgia residents carry an auto loan balance of more than $28,000 on average. Personal loan debt is also high in Georgia and has recently increased. The total is an average of $12,947.

Debt Settlement for Credit Card and Personal Loan Debt 

With very high credit card balances — including many that are overdue — and the addition of personal loan debt, Georgia residents struggling to pay debt may want to consider debt settlement. Debt settlement can allow you to pay a portion of what you owe to your credit card company and to the bank that issued the personal loan. In exchange for paying a portion of the debt you owe, the creditor will forgive the remaining debt. Accordingly, you may be able to get out of credit card and personal loan debt through debt settlement.

Contact a Georgia Credit Card Debt Lawyer 

If you are among the many Georgia residents struggling with substantial credit card debt, you have options. Depending on the details of your case, you may be eligible for debt settlement. Through debt settlement, as we noted above, you may be able to get out of debt faster than you expected. An experienced Lilburn credit card debt attorney at Konn Law Firm LLC can speak with you today about credit card debt settlement and other potential debt relief options in Georgia. Contact us today to discuss the possibility of settling your debt and getting a clean financial start.

Sources:

valdostatoday.com/in-other-news/2025/02/georgia-ranks-in-top-10-states-where-consumer-are-adding-most-debt/#google_vignette

newsweek.com/map-shows-states-worst-credit-card-debt-1971534