By Emily Jones

Residents of Atlanta are leading in the nation for piling most unpaid credit card debt. As of March 2011, average debt per family is calculated as $4960 which is 15.8% higher than the national average of $4200. CNN Money ranks Atlanta among 10 cities of America, facing credit card debt crisis. According to credit information bureau Experian, Atlanta ranks first in the estimate of average credit card balance. . In this circumstance many of them are taking a debt consolidation and debt settlement company to get debt relief.  

There is an utilization ratio which is determined by taking into account the credit limit and the money spent on credit. In this calculation Atlanta has also exceeded the percentage of national average usage. Up to August 2010 it was estimated as 33% comparatively higher than national average of 28.8%.  

The number of average credit cards an Atlanta resident held in the past has lowered to some extent. But the study confirms that when residents reduce the number of card holdings; it only increases the outstanding balance on their existing cards. Generally it is common perception that people who shop a lot on credit, incurs debt. But it has been found that people in Atlanta are using their credit cards for survival.  

After recession when job loss and real estate crisis hit the U.S economy, the usage of credit card has topped most in Atlanta. On of the much inculcated instances today on the news is of Rick Kearney who used to meet his grocery bills with credit cards after losing his job.  

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Credit card experts are of the opinion that a combination of shopping spree even in times of economic hardship have led to accumulating huge credit card balance. The local news states how house wives in Atlanta went on lavishing credit card money on clothes, recreation and utility when their husbands were getting laid out from companies. Some even went to the extent of paying medical bills by maxing out credit limit. Atlanta has gained such defame for its spendthrift citizens that many hesitate to identify themselves publicly.

Emily Jones is a contributory guest columnist for various websites and communities including Oak View Law Group and CMFA . She has completed her Graduation in Finance and is currently working with an Investment company located in California. She has written some great articles on topics like bankruptcy, investment opportunities, debt settlement programs and  more.