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06/27/2013

Dallas-Fort Worth consumers taking on more debt

Dallas-Fort Worth consumers have taken on more debt in the past year, says one of the major credit monitoring firms.

At the end of the first quarter, the consumer debt in the metro area stood at $196.9 billion, according to Equifax National Consumer Credit Trends report Thursday.

The debt is up 1.75 percent from $193.5 billion at the end of the first quarter of 2012.

Dallas-Fort Worth was among consumers in Houston, St. Louis and Pittsburgh to see debt increases.

Overall consumer debt nationwide fell from $11.02 trillion in the first quarter of 2012 to $10.92 trillion in the first quarter of 2013, Equifax said.

The decline mostly came from consumers paying down mortgage debt.

“We are seeing changes in consumer behavior," said Trey Loughran, Equifax Personal Solutions president. “People are paying down their debt faster and taking their access to credit more
seriously."

_ Sandra Baker

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