by First Rate Debt Solutions
25. January 2010 12:15
Here are some sobering statistics about American debt.
- About 1.6 million U.S. households -- one of every 73 -- filed for bankruptcy in 2004.
- Average per household debt in the U.S., not counting mortgage debt, is about $14,500 -- especially noteworthy because before the 1930s, most middle and working class people had no major debts.
- Some 40 percent of American families spend more than they earn each year.
- Average personal wealth of a 50-year-old American, including home equity: less than $40,000.
- Nine of 10 Americans claim credit card debt has never been a source of worry.
- But 47 percent would refuse to tell a friend how much they owe.
- Twenty-three percent of Americans admit to maxing out a credit card.
- Eleven percent of Americans admit card debts went to collection.
- Thirteen percent of Americans have been 30 days late paying credit card bills in the past year.
- The average graduate student has six credit cards and one in seven owes more than $15,000.
- The personal savings rate in the United States has dropped from 8 percent in the 1980s to just below 2 percent since 2000.
If any of this sounds familiar then we can help you tackle this debt and change your financial situation. Call for a free consultation.
Subscribe