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US Consumer Debt Statistics and Trends 2012

US Consumer Debt Statistics 2012

DEBT
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
Alaska $30,375
Virginia $26,206
Wyoming $26,779
Oklahoma $26,167
South Dakota $26,736
Colorado $26,424
Vermont $26,059
Maryland $26,374
Washington $26,020
Texas $26,079

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

Designed and Compiled by
thecredit examiner US Consumer Debt Statistics 2012 DEBT 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% DEBT from 2011 7.35% $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 student loan debt: Average credit card debt: Average mortgage debt: $149,782 $34,703 $15,328 Top 10 States With The Highest Consumer Debt Maryland $26,424 $26,374 Alaska Wyoming $30,375 $26,779 South Dakota Colorado $26,736 Virginia Oklahoma Texas Vermont Washington $26,206 $26,167 $26,079 $26,059 $26,020 emergency emergency 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 One in five U.S. households currently includes at least one resident carrying student debt outstanding student loans today. 70% 9% PAST DUE 9% of outstanding Non-mortgage consumer debt Mortgage debt accounts for 70% of U.S. debt was in some stage increased by 2.2% as compared to last year of delinquency consumer debt and, at a little bit more than $8 trillion, is at its lowest level since 2006. 7. Steps to Reduce Your Consumer Debt Make a budget Compile a list of your debts Look at your actual spending Start living on your budget Adjust your budget Pay down Put any extra money toward your debts your debts Designed and Compiled by thecreditexaminer personal finance, budgeting, and investing Source http://www.nerdwallet.com/blog/credit-card-data/average-credit-card-debt-household/ http://lifeinc.today.com/_news/2012/02/21/10468068-one-in-four-americans-has-more-debt-than- savings http://www.thetrumpet.com/article/10146.18.0.0/economy/us-student-debt-looming-large http://www.asa.org/policy/resources/stats/default.aspx http://money.msn.com/debt-management/10-states-leading-in-consumer-debt http://www.newyorkfed.org/householdcredit/ http://www.creditdonkey.com/reduce-consumer-debt.html

US Consumer Debt Statistics and Trends 2012

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US Consumer Debt Statistics and Trends 2012. In total, American consumers owe: $11.38 trillion, a decrease of 2.95% from last year

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