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Florida ranks among the top third of states for growing consumer debt

Consumer debt is increasing. Pictured is a Tampa woman using her credit card in Target in 2016. [ZACK WITTMAN | Times (2016)]
Published Mar. 28

Consumer debt across the country is rising, and Florida is among the top third for its increasingly indebted residents. Floridians' average debt rose by $1,305 in 2018, ranking No. 15 in the nation, according to data released this week by consumer credit reporting company Experian.

"Americans' credit spending was greater than ever in 2018, as debt levels reached record totals," the study said.

Overall consumer debt was $13.3 trillion in the fourth quarter of 2018.

Colorado ranked No. 1 for year-over-year debt increases with a bump of $3,536 on average, followed by Utah ($2,820) and Washington ($2,159). On the other end of the spectrum, Oklahoma's average debt decreased the most ($1,399) followed by New York ($1,206).

Contact Malena Carollo at mcarollo@tampabay.com or (727) 892-2249. Follow @malenacarollo.

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