Sunday, May 14, 2017

Monsey Among Worst Places In U.S. For Credit Card Debt

Residents who live in Monsey, a hamlet of Ramapo, might want to rethink their credit card use after a recent study ranked the hamlet as being the fifth worst place in the country for credit card debt.
According to a study by WalletHub, the average credit card holder has an outstanding balance of $5,849 with a collective nationwide balance of $927.1 billion in 2016.
In Monsey, the average balance was $7,569 with an average income of $18,825, or 41 percent of their income, according to Business Insider .
In the study, WalletHub looked at the average credit card balance and the median income, ranking them by how long it would take the average person to pay off the debt.
Residents of Monsey, whose medium income are below the national average of $32,261, will likely struggle to meet the minimum payments, said Business Insider.

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7 comments:

  1. AnonymousMay 14, 2017 at 5:30 PM

    21. Lakewood, New Jersey




    21. Lakewood, New Jersey
    Bogdan Migulski/Flickr

    Median income: $18,546

    Average credit card balance: $6,500

    Debt as a percentage of income: 35.05%


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  2. AnonymousMay 14, 2017 at 6:06 PM

    lakewood #21

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  3. AnonymousMay 15, 2017 at 7:46 PM

    Beautiful houses and beautiful cars, what a Mirage.seems hard to believe..

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  4. jancsibacsiMay 15, 2017 at 10:33 PM

    They got to have it all after all you only live once :)

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  5. AnonymousMay 16, 2017 at 2:39 AM

    12,46. not only a mirage but a life based on illusions and falsehood which can only cause amajor bankruptcy crisis, chas veshalom, even though many are well off, the majority aren't. It's distressful that so much conversation between the frum is about money and wanting to impress and lies about who has what. It's actually pathetic.

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  6. AnonymousMay 16, 2017 at 5:39 PM

    Article doesn't make sense to me. After the stock market crashed 10 years ago the banks are very stingy with credit limits that they tie to your income & bank account levels.

    And West Chester a suburb of Philly only has median income of $16K?

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  7. AnonymousMay 17, 2017 at 4:59 PM

    Remember the income represented is only the "on the books" income.
    If you add the public assistance,the scams and off the books money it would be a lot more. Odds are the credit card companies get stiffed by bankruptcies and sham identities. Monsey is a corrupt dump.

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