Miami has the second-highest credit card debt burden in the U.S.

A recent study ranked the Miami area as having the second-highest credit card debt burden in the country.

Credit card debt is a huge burden on many families, especially for those who do not have the income necessary to comfortably carry large debt loads. As the Miami Herald reports, many people in the Miami metro area find themselves in a situation where they have far more credit card debt than they can afford. A recent study ranked the Miami metro area as having the second-highest credit card debt burden in the country.

Credit card debt in South Florida

The study by CreditCards.com determined credit card debt burden by comparing the median income to average credit card debt in the country's 25 largest metro areas. Comparing both income and average debt is important since high credit card debt levels alone may not represent a significant burden in cities where the median income is also high.

Indeed, the city ranked as having the lowest credit card debt burden was San Francisco, where incomes are also high. Metro Miami, on the other hand, only has the 14th-highest credit card debt, but the second-lowest median income. As a result, Miami residents currently require an average of 21 months to pay off their credit card debt, which is the second-highest in the country. Only San Antonio, at 22 months, had a heavier credit card debt burden. Miami residents face a number of financial burdens that can drive up credit card debt, including low housing affordability coupled with relatively low incomes.

Weighed down by credit cards

Miami is not alone in struggling with credit card debt. As MarketWatch reports, Americans owe a record-breaking $1.030 trillion in credit card debt. Last year, consumers added $91.6 billion in debt to their credit cards, which was the largest amount of new credit card debt in a single year since 2007. That new debt is also 104 percent higher than the post-recession average.

That being said, there is some good news. Americans are also repaying more credit card debt than before, employment levels are rising, and debt delinquency rates are falling. However, with the Federal Reserve expected to continue to raise interest rates, trying to repay credit card debt will likely begin to become more difficult, especially for those who are already struggling to keep up with their current payments.

Help with crippling debt

For those who are struggling with credit cards and other bills, debt feels like an endless downward spiral. However, there is hope for those who are overwhelmed by debt. A bankruptcy attorney can show clients what options they have for overcoming debt. Talking to an attorney is the first step towards putting an end to calls from creditors and getting free of debt faster.