From Bourbon Street to the Bayou, Louisiana is truly one of a kind. The state is world-famous for its unique blend of distinctive cultures and the iconic Mardi Gras celebration in the French Quarter of New Orleans. An important global supplier of crawfish and cayenne pepper, Louisiana is home to mouth-watering Cajun and Creole cuisine – tabasco sauce, gumbo, jambalaya, and po’boy sandwiches are among the delicious foods that originate in the Pelican State.
Unfortunately, Louisiana is also home to its fair share of economic hardships. With a median household income of $51,073, the state ranks near the bottom of the country in many key metrics like healthcare and education. As inflation continues to drive up the prices of goods, more and more Louisianans are taking on credit card debt to stay afloat in 2022: The average Louisiana cardholder has $5,811 in credit card debt.
In a vacuum, Louisiana’s statewide average doesn’t look that bad when compared to the national average of $6,194. This number is misleading, as it fails to take in the economic realities of each state. For example, Louisiana’s poverty rate is an alarming 17.8%, while the national rate is just 11.4%. In many cases, that $5,811 hole can feel insurmountable but there’s good news: when it comes to Louisiana debt relief, you have better options than making monthly minimum payments.
Tired of making minimum payments that keep you in debt? There are several other Louisiana debt relief options. Take a look at a few of the most popular ones below.