“There are a lot of considerations and costs to compare,” said Kali McFadden, senior research analyst at LendingTree. “Are you lining up a job ahead of time, or how confident are you that you can get a job when you get there? What’s the cost of moving? What kind of environment will you be happy with?”
McFadden authored a recent study that examined the best fresh-start spots for people ages 35 through 64. The study evaluated eight variables — including income and housing costs, how quickly credit scores rise after bankruptcy and consumer debt laws — in the 50 largest U.S. metro areas.
The idea was to see which of those places would be most conducive for people in that age group to begin with a clean slate and rebuild their financial lives.