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US Consumer Debt Statistics 2012
Consumer Debt are debts that are owed as a result of purchasing goods that are consumable and/or do not appreciate.
In total, American consumers owe $11.38 trillion, a decrease of 2.95% from 2011
$8.15 trillion in mortgages
$914 billion in student loans, an increase of 7.35% from 2011
$852 billion in credit card debt
$72 billion in auto loans
U.S. Household Consumer Debt Profile:
Average mortgage debt: $149,782
Average student loan debt: $34,703
Average credit card debt:$15,328
Top 10 States With The Highest Consumer Debt
South Dakota $26,736
25% of Americans have more credit card debt than they have in emergency savings.
54% of consumers have more emergency savings than credit card debt
There are approximately 37 million student loan borrowers with outstanding student loans today.
One in five U.S. households currently includes at least one resident carrying student debt
Mortgage debt accounts 70% of U.S. consumer debt and, at a little bit more than $8 trillion, is at its Lowest level since 2006.
9% of outstanding debt was in some stage of delinquency
Non-mortgage consumer debt increased by 2.2% as compared to last year
7 Steps to Reduce Your Consumer Debt
Compile a list of your debts
Make a budget
Look at your actual spending
Start living on your budget
Adjust your budget
Pay down your debts
Put any extra money toward your debts
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