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Debt, credit scores down.


San Francisco-based CreditKarma reports that although consumer credit card debt is down 3 percent since January, credit scores are worse.

High unemployment and a poor real estate environment have hurt credit scores even though people are paying off debt. Credit scores are down 2 points on average since the start of the year.

Among the report's findings:

* New Hampshire residents cut credit card debt by 11 percent--tops in the nation

* California, New Jersey and Massachusetts residents have the highest average credit score in the country at 685

* Arkansas has the lowest average credit score at 640. Nationally, the average consumer with a credit card in August had:

* $7,694 in credit card debt

* $174,447 in home mortgage loans

* $51,721 in home equity

* $15,186 in car loans

* $28,183 in student loans.
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Title Annotation:Industry IQ
Publication:American Agent & Broker
Date:Oct 1, 2010
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