A new study from CareOne Debt Relief Services has found some interesting statistics regarding women and debt:

  • 45% of women seeking debt relief assistance have more than $50,000 in household debt, this is up from 33% just two years ago.
  • The increase in debt greater than $50,000 touched all regions of the country. But four states – Maryland, Oregon, Pennsylvania and Washington – saw more than a 50% increase in the number of CareOne customers with more than $50,000 in debt.
  • More women from upper income households are seeking debt assistance. CareOne has seen a 38% increase in the portion of women seeking debt assistance with an annual household income greater than $60,000.
  • The percentage of widowed and divorced women seeking assistance has risen dramatically over the last two years, while the share of single and separated women seeking help has declined.
  • Women who are retired or nearing retirement are more likely to seek debt relief assistance now than before the recession, while a smaller share of younger women are seeking help.

What can marketers learn from this study?  “The recent recession has impacted almost every family in the country, placing a particular burden on women who traditionally manage a family’s savings” said Jenny Realo, executive vice president and chief product officer for CareOne Services, Inc. “As a result, we have seen a drastic shift in the kinds of people reaching out for help in managing their debt.”

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