Average American Debt

That includes mortgage loans home equity lines of credit auto loans credit card debt student loan debt and other debt like personal loans.

Average american debt. Both groups are sitting just outside those peak earning years and are less likely to have child-related expenses to contend with. Facts and Figures about American Debt The modern-day credit card which entered the scene in the late 1950s has meant far greater buying power for US. If you consider the average credit card rate is 16 and well above 20 for bad credit borrowers that means the average American is paying around 225 a month in interest.

Owing money just seems to be a way of life for Americans as collectively we have 14 trillion in debt. The average American household carried a 284681 credit card balance in 2019. That debt was concentrated in only a few households however the median household carried no balance cycle to cycle while the top 10 of households had 8500 in credit card debt.

And while the average consumers debt as a percentage of their income has. Today bachelors degree recipients with student loans graduate with an average debt of 37172. In 2019 the average American household carried 10759690 in debt.

The results are ranked from youngest to oldest and include data on credit card debt mortgage debt auto loans student loans personal loans and HELOCs. The average American debt totals 51900. The total debt the average American owes is bad enough but within that figure is a whopping 16943 in credit card debt.

And two- thirds of Americans 66 reported consumer debt with an average of 34055 debt load per person. This is according to data collected by. Thats pretty close to the 66000 average debt for those between the ages of 65 and 74.

546 of households held no credit card debt. The median debt was only 50971 in 2000. Average American Credit Card Debt.