News » Education

Duluth Ranks in Top Ten of Most Debt-Ridden Cities

By KBJR News 1

Duluth Ranks in Top Ten of Most Debt-Ridden Cities

February 2, 2011 Updated Feb 2, 2011 at 3:18 PM CDT

Duluth, MN (Northland's NewsCenter) - The City of Duluth ranks in the top ten of The Most Debt-Ridden Cities in The United States.

An article on Yahoo! Finance reports credit reporting agency Equifax analyzed quarterly data on consumers with more than one credit line on file.

It has Duluth ranking number four on the list with a total credit card debt of nearly $726M.

The report shows the average debt of a household is $6,418.

Two North Carolina cities round out the top ten list, Wilmington at the top and Winston-Salem on the bottom.

The Federal Reserve found that outstanding credit card debt in the nation totaled $790 billion during the last quarter of 2010.

More information: The Most Debt-Ridden Cities

Written for the web by Kevin Jacobsen
kjacobsen@northlandsnewscenter.com

To submit a comment on this article, your email address is required. We respect your privacy and your email will not be visible to others nor will it be added to any email lists.