North Carolina ranks 8th-worst state for debt delinquency

ASHEVILLE, N.C. (WLOS) — A new WalletHub report shows North Carolina ranks as the eighth-worst state for debt delinquency.

WalletHub ranks North Carolina as eighth-worst state for debt delinquency. (WLOS)

News 13 reached out to OnTrack WNC, a local organization that helps people improve their financial stability. Rebecca Strimer, who is with the organization, says she’s not surprised at the state’s ranking.

“People are facing really high housing costs in our region in particular,” said Strimer.

She says the affordability crisis is making it harder for people to keep up with bills and avoid debt.

NC ATTORNEY GENERAL SECURES $7M SETTLEMENT WITH LANDLORD ACCUSED OF AI RENT-SETTING

“For me at one point, I know that my rent jumped from one lease to another by $300, so that’s an extra $300 a month all of a sudden I wasn’t planning on using or I could put in savings that now has to go towards my rent,” said Asheville Resident Mike DeSerio.

He says a lack of financial education and blind spots in his money management led to him into debt.

“Working around raising prices, I would end up kind of leaning on the credit card for that,” said DeSerio.

And he says the thought of attempting to pay off that debt was overwhelming.

HOW THE ‘RENT-A-NONPROFIT’ LOOPHOLE COULD RAISE YOUR PROPERTY TAXES

“I felt also the same thing, that shame of like I don’t want to tell anybody that I have stuff that I haven’t been able to pay off,” said DeSerio.

“The dread that you feel when you have debt that you can’t afford to pay, it can be a very dark, scary, lonely place and we just want people to know there’s a way forward,” said Strimer.

Strimer says that while talking about debt and delinquency is a vulnerable conversation, she says that just coming up with a plan often brings their clients relief.

“Even just having a plan was so much weight off my shoulders than I thought it would be,” said DeSerio.

“Bravely look at where your money goes. If you don’t know where you’re spending your money, literally every dollar, you won’t be able to put a plan in place,” said Strimer.

Strimer says to seek reputable help and she warns against buy-now, pay-later services.

“Paying those off never helped you but if you can’t make those payments, they’re going to pull your credit score down and contribute to that delinquency,” said Strimer.

Consumers can find information about OnTrack WNC’s programs at its website.