We covered before where Kentucky has the highest average credit card balance of any state, coming in at $10,181.08. What should you do if you live in Kentucky (or anywhere else) and are being crushed by debt? The simple answer is to spend less than you make, but that is like telling someone who is overweight that they need to eat less. It is easy to say, but harder to do. Mint has published a funny infographic that covers what to do when you have too much debt.
Even as consumers have reduced their credit-card spending in recent months, many struggle under mountains of debt. In 2008, Americans household that had credit cards owed an average of $10,691 on them, according to CardWeb.com. More than half carried balances of $7,000 or more. If you feel trapped under your credit-card debt, check out our latest infographic. We walk you through three possible solutions: credit counseling, debt settlement or consolidation and, as a last resort, bankruptcy. Which option may work for you will depend on your individual circumstances and, chances are, you will need to do a lot of research before making a choice. Ultimately, however, the real key to getting out of debt is universal: make sure you never use your credit cards to purchase things you cannot afford.
You can see the full graphic after the jump.
