2013 Debt Statistics for US Consumers

2013 DEBT STATISTICS



MEDIAN DEBT OF HOUSEHOLDS



100,000



80,000



60,000



40,000



20,000



0



SECURED DEBT



TOTAL DEBT



UNSECURED DEBT



2000



2001



2002



2003



2004



2005



2006



2007



2008



2009



2010



2011



RECESSION



NOTE: TOTAL HOUSEHOLD DEBT IS TOTAL AMOUNT OF MONEY OWED BY HOUSEHOLDS. SECURED DEBT IS DEBT BACKED BY COLLATERAL. UNSECURED DEBT IS DEBT NOT BACKED UP BY COLLATERAL. MEDIAN HOUSEHOLD DEBT IS LOWER THAN MEDIAN SECURED DEBT SINCE NOT EVERY HOUSEHOLD HOLDS SECURED DEBT.



AGE GROUPS WITH THE LARGEST INCREASE IN MEDIAN DEBT

BETWEEN 2000 & 2011



35-44

$21,350



45-54

$23,055



55-64

$27,346



=$1000



US CONSUMER DEBT PROFILE 2013



AVERAGE CREDIT CARD DEBT



= $15,216



AVERAGE MORTGAGE DEBT



= $148,443



AVERAGE STUDENT LOAN DEBT

= $32,054



IN TOTAL, AMERICAN CONSUMERS OWE:



$849.8 BILLION IN CREDIT CARD DEBT



$7.9 TRILLION IN MORTGAGES



$992.7 BILLION IN STUDENT LOANS



ROUGHLY 2.0 TO 2.5 MILLION AMERICANS SEEK THE HELP OF A CREDIT COUNSELOR EACH YEAR MOSTLY TO AVOID BANKRUPTCY



75%



NEARLY 75% OF THOSE SEEKING HELP FROM A CREDIT COUNSELOR HELD A CREDIT CARD.



THE AVERAGE PERSON SEEKING A CREDIT COUNSELOR CARRIES A BALANCE ON TWO CREDIT CARDS.



THE AVERAGE CLIENT SEEKING THE HELP OF A COUNSELOR HAD $43,000 IN DEBT, OF WHICH $20,000 WAS CONSUMER DEBT & $8,500 WAS REVOLVING DEBT. 2013 DEBT STATISTICS SOS CREDIT MEDIAN DEBT OF HOUSEHOLDS 100,000 SECURED DEBT 80,000 TOTAL DEBT 60,000 40,000 20,000 UNSECURED DEBT 2000 2001 2001 2003 2004 2005 2006 2007 2008 2009 2010 2011 NOTE: TOTAL HOUSEHOLD DEBT IS TOTAL AMOUNT OF MONEY OWED BY HOUSEHOLDS. SECURED DEBT IS RECESSION DEBT BACKED BY COLLATERAL. UNSECURED DEBT IS DEBT NOT BACKED BY COLLATERAL. MEDIAN HOUSEHOLD DEBT IS LOWER THAN MEDIAN SECURED DEBT SINCE NOT EVERY HOUSEHOLD HOLDS SECURED DEBT. AGE GROUPS WITH THE LARGEST INCREASES IN MEDIAN DEBT BETWEEN 2000 & 2011 35-44 45-54 55-64 =$1000 $21,350 $23,055 $27,346 US CONSUMER DEBT PROFILE 2013 AVERAGE AVERAGE AVERAGE STUDENT CREDIT CARD DEBT MORTGAGE DEBT LOAN DEBT = $15,216 = $148,443 = $32,054 IN TOTAL, AMERICAN CONSUMERS OWE: TRILLION BILLION 992.7 849 8 NOTTIS HORTOAR 2.0MILLION AMERICANS HELP ICY OF A CREDIT COUNSELOR TO 2.5 EACH YEAR MOSTLY TO AVIOD BANKRUPTCY 75% THE AVERAGE CLIENT SEEKING THE HELP OF A COUNSELOR HAD $43,000 NEARLY 75% OF THOSE SEEKING HELP FROM A CREDIT COUNSELOR HELD A CREDIT CARD. THE AVERAGE PERSON SEEKING A CREDIT COUNSELOR CARRIES A BALANCE ON TWO CREDIT CARDS. 000 IN DEBT, OF WHICH 00 $20,000 WAS CONSUMER DEBT & S8,500 WAS REVOLVING DEBT, U.S. CENSUS BUREAU, SURVEY OF INCOME AND PROGRAM PARTICIPATION, 1996, 2004 AND 2008 PANELS HTTP://www.CENSUS.GOV/NEWSROOM/RELEASES/ARCHIVES/INCOME_WEALTH/CB13-51.HTML HTTP://www.NERDWALLET.COM/BLOG/CREDIT-CARD-DATA/AVERAGE-CREDIT-CARD-DEBT-HOUSEHOLD/ HTTP://wwW.ABIWORLD.ORG/AM/AMTEMPLATE.CFM?SECTION=HOME&CONTENTID=65139&TEMPLATE=/CM/CONTENTDISPLAY.CFM HTTP://www.ABIWORLD.ORG/AM/TEMPLATE.CFM?SECTION=HOME&CONTENTID=61662&TEMPLATE=/CM/CONTENTDISPLAY.CFM O ADVANTAGECCS.ORG Advantage TWITTER.COM/ADVANTAGECCS f FACEBOOK.COM/ADVANTAGECCS 2 [email protected] CREDIT COUNSELING SERVICE A (866) 699-2227 CREDIT COUNSELING SERVICES SERVICES: DEBT MANAGEMENT PROGRAM SOURCES ROUGHLY DEBT IN ONTOTS IN ST