Consumers Repaying Record Amount of Credit-Card Debt
Tuesday, April 26th, 2011
Consumers are repaying a record amount of credit card debt — another sign that more are trying to get their financial house in order, according to a new report.
Last year, consumers repaid more than $122 million to their creditors through a national, nonprofit credit counseling group called CredAbility, which is based in Atlanta. It’s a 3 percent increase from 2009 and a record for the 47-year-old organization, which was formerly known as the Consumer Credit Counseling Service of Greater Atlanta.
Already this year, the numbers continue to rise. In the first quarter, repayments are up 9.5 percent from a year ago, CredAbility said.
