Debt Rises in Oklahoma as Families Struggle to Keep Up

Economists Warn of Growing Financial Strain

Debt levels in Oklahoma are climbing to recession-era highs, and economists warn that middle-income households are running out of options.

According to national data, the number of U.S. households delinquent on credit card or auto loans has reached its highest point since 2009.

Oklahoma City University Business School Dean Russell Evans said the trend is clear — “most Oklahoma households cannot manage their debt and are relying on credit cards and loans for basics like utilities and food.”

Oklahoma Wealth Gap Widens

Economists note that higher-income earners continue to spend, which temporarily shields the nation from a full-blown recession. But Evans said that mask won’t last long.

“The middle class is tapped out,” he said. “They’re carrying record balances just to survive. When the upper income groups tighten spending, the economy will feel it.”

Consumers Turning to Credit for Essentials

Local credit unions report higher delinquency rates and rising default risk, particularly among families struggling with inflation, rising rent, and food prices.

Financial experts urge consumers to create emergency budgets, reduce discretionary spending, and seek credit counseling before accounts fall behind.

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