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More St. Louisans buried under credit card debt

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credit cards More St. Louisans buried under credit card debt

ST. LOUIS (KMOX) -  The recession may be over, but St. Louisans are deeper in debt now than they were a year ago.  

Bruce McClary with ClearPoint Credit Counseling Solutions says from December of 2009 to December of 2010, they’ve seen a 3% increase in the overall debt of St. Louisans who have approached them for help with their finances.  

“Many people who were running up that debt were doing so because of income reduction,” McClary tells KMOX News.  “They were relying on their credit cards to take the place of savings that had already been depleted.  So many of the expenses had been necessities and things that they needed just to get by during tough times.”

He adds that while the average credit card debt in the U.S. is nearly $16,000, St. Louisans who come to them for help owe an average of $23,000. 

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(Copyright KMOX Radio)

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