AL residents have credit scores lower than national average

A recent report finds Alabama residents have lower credit scores than the national average.  The U.S. Credit Score Climate Report, which is conducted by the website CreditKarma.com, found the average Alabama resident has a credit score of 635.  That’s below the national average of 656. 

Roger Knauff of Consumer Credit Counseling Service of Alabama doesn’t mince words when it comes to credit problems.

“I don’t think we do enough to teach our children or our employees or people who are in financial distress or on the edge how to manage money and credit,” Knauff said.

Knauff still finds people spending over their means, and using credit when they shouldn’t or turning to title and payday loans to makes ends meet.

“When you have debt that has not paid and you can’t or are not paying it, you should not borrow money. If you have no money in savings, you have no business borrowing money.”

Knauff said one place where people run into trouble is using credit for everyday purchases like food or clothing.  Knauff advises using cash whenever possible. 

“Whether you’re payi……………. continues on WSFA