Texas charges up top-10 rank in states dealing with the most debt, report says

HOUSTON, Texas -- It's not too late to rein in that holiday spending, Texas. A new financial report has revealed Texas is the No. 9 state with the highest debt levels in the country.

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The report by personal finance website CreditDonkey examined each state's average mortgage debt, student debt, automobile debt, and credit card debt. Rankings were determined based on which state had the highest amount of debt.

Texas was ranked so highly due to its rampant amount of auto loan debt, the most out of all 50 states. Millions of Texans have loans on their cars, which has racked up more than $1.5 trillion in auto loan debt. The average Texan's auto loan debt stands at $27,739.

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