NEW YORK, NY — (Marketwired) — 07/23/13 — New data released today from Hearst-owned account management service provides a snapshot into the loan debt of Americans, including how balances have changed since the start of the year and what areas of the country are carrying the most loan debt. Manilla found that the average total debt held by users across the nation is declining, having decreased 1.1 percent since the close of Q1 2013 and 4.2 percent since the end of 2012.

“Manilla is committed to helping consumers keep all of their accounts, including loans, organized so they don-t miss payments or incur late fees,” said Jim Schinella, CEO of Manilla. “We-re happy to see that on average, consumer debt across the country is gradually declining, and we hope that our quarterly breakdown of the areas with the highest loan balances will encourage residents of those markets to pay even closer attention to their finances.”

The latest Manilla.com quarterly loan report examines the student, mortgage and auto loan debt of Manilla users, both nationally and by individual market, as of July 1. Manilla is the leading, free and secure service that allows consumers to manage their bills and other personal accounts on desktop, tablet and mobile devices.

Manilla-s Q2 mortgage data shows that on average, Americans are slowly but consistently paying off their mortgages. The average mortgage balance as of July 1 was $150,200.21, down approximately 4 percent from the end of 2012.

The 10 markets with the highest mortgage balances remained consistent through the first half of 2013, with large markets on both coasts having the majority of the highest balances.

The worst debt offenders for mortgage loans as of July 1 are:

1. San Francisco: $312,301.64
2. Los Angeles: $262,792.56
3. San Diego: $258,548.22
4. New York: $250,078.12
5. Washington, D.C.: $226,444.31
6. Seattle/Tacoma, Wash.: $199,205.30
7. Sacramento, Calif.: $194,796.46
8. Portland, Ore.: $176,452.78
9. Boston: $176,350.70
10. Miami/Ft. Lauderdale, Fla.: $176,057.60

San Diego residents lowered their average mortgage balance by more than $10,000 from April 1 to July 1, causing a switch with Los Angeles as the city with the second highest average balance.

Home prices in Miami/Ft. Lauderdale are rising: The average balance rose more than $2,000 from April 1 to July 1. It is the only top 10 market with a significant increase in average mortgage balance in Q2.

The national average student loan balance was $12,814.54 at the close of Q2 2013, versus $12,826.04 at the close of Q1. The average loan payment also dropped nearly 8 percent in this time period, from $121.66 to $112.00.

The worst debt offenders for student loans as of July 1 are:

1. Memphis, Tenn.: $21,578.22
2. Las Vegas: $19,571.48
3. Atlanta: $18,470.69
4. Birmingham, Ala.: $18,088.25
5. Washington, D.C.: $17,918.88
6. Albany-Schenectady-Troy, New York: $17,046.92
7. Richmond-Petersburg, Va.: $17,034.41
8. Phoenix: $17,013.12
9. Baton Rouge: $16,913.43
10. Chicago: $16,733.68

Albany makes its debut in the top 10 this quarter, replacing Syracuse, New York, which dropped to the No. 24 spot. Syracuse residents decreased their average student loan debt by more than 8 percent in Q2.

Auto loan balances have increased 7.9 percent since the end of 2012, to an average of $13,124.52. This indicates that Americans are willing to spend more on cars this year, pointing to economic improvement.

Eight of the 10 markets with the highest auto loan balances remained consistent in the first half of 2013. The worst debt offenders for auto loans as of July 1 are:

1. Little Rock-Pine Bluff, Ark.: $17,797.82
2. Houston: $17,078.08
3. Miami-Ft. Lauderdale: $16,997.15
4. New Orleans: $16,968.24
5. New York: $16,672.47
6. Memphis: $16,538.02
7. Birmingham: $16,436.04
8. Las Vegas: $16,294.38
9. Waco-Temple-Bryan, Texas: $16,263.03
10. San Antonio: $16,164.34

New to the list are two Texas markets, Waco-Temple-Bryan and San Antonio, which replaced the greater Norfolk area and Tampa-St. Petersburg, Fla.

Manilla-s platform provides convenient, secure online access to all household accounts and services for more than 3,500 businesses. The free service helps consumers manage all of their household accounts, including financial accounts, utilities, subscriptions, daily deals and travel rewards programs, all through Manilla.com or via the Manilla Android or iOS mobile apps.

Manilla organizes and simplifies people-s lives by providing one secure access point to all household accounts and services. The free service helps consumers manage their household accounts, including financial accounts, utilities, subscriptions, daily deals, and travel rewards programs, all through Manilla.com. Consumers can also use all of the Manilla features on the go by using Manilla-s 4+ star customer-rated Android and iOS mobile apps. Under a single password, Manilla gives customers an automated, organized view of all of their account information, text and email reminders to pay bills, renew expiring subscriptions, and manage soon-to-expire daily deals, all with unlimited storage and seamless document retrieval.

Manilla is a company incubated within and backed by Hearst Corporation. Manilla is the recipient of the Webby Award and People-s Voice Award for Best Banking/Bill Pay Service and was chosen as ABC News “App of the Week,” as one of Money Magazine-s “Top Money Apps” and as one of PCMag.com-s Top 100 Websites. For more information, please visit .

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Marc Karasu
VP Marketing Manilla

Rachel Shaffer
Allison+Partners

646-428-0626

  banking, bill-paying, hearst, loan-debt, manilla, paperless