Delaware Leads Nation In Consumer Debt

While consumers across the country have faced a number of recent fiscal hardships including bankruptcies, debt and foreclosure, some states are faring better than others.

According to a recent study by CareOne Services, Alabama ranks 10th in the nation when it comes to consumer debt, with the average state resident owing nearly $17,000 to creditors.

In addition, the average Alabama consumer had seven creditors and a credit score of around 580. However, the state finished out of the top three, which included Delaware, Rhode Island and Maine, respectively, the Birmingham Business Journal reports. The average resident in these states was found to hold more than $19,000 in debt.

By comparison, California, Michigan and Mississippi had the lowest average consumer debts, with each of the state's residents owing less than $14,000 to creditors on average, the news source says.

Despite the high number of bankruptcies and foreclosures seen in many Western states, the data shows many consumers in these states may be taking better care of their finances than those in other parts of the country that have not experienced as many of the economic downturn's negative effects.