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Credit card burden higher in some states than in others

It takes longer for people in some states to pay off their credit card debts than it takes for people in others. Texas is one of the states where people carry the highest balances on their cards, but it's not among the worst when it comes to payoff time. The length of time it takes a person to pay off his or her credit card debt is sometimes called the credit card burden.

According to an analyst from CreditCards.com, the question comes down to income and debt rather than debt level alone. The states with the highest credit card burden levels included New Mexico and Louisiana. Based on the average income in New Mexico, $46,744, and the average household credit card debt there, $8,323, it would take almost a year and a half to pay off the credit cards. In Louisiana, it would take 17 months for the average household to pay off credit card debt.

Texas was in the top five, along with Alaska, Connecticut, Virginia and Maryland, when it came to overall credit card debt. These states have lower credit card burdens than other states because of higher household incomes. Massachusetts had the lowest credit card burden in the country. With an average income of $77,385 and an average household credit card debt of just less than $8,000, the Massachusetts debt burden is nine months. People who are struggling with debt repayments can take steps to make repayment possible.

In some cases, an attorney might be able to help by examining and organizing the client's financial situation and suggesting options for debt reduction or elimination. An attorney with experience in bankruptcy law might be able to negotiate with creditors or draft and file a petition for bankruptcy protection on the client's behalf. With a Chapter 7 bankruptcy, for example, the person might be able to eliminate debts and keep important assets.

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