How Much Does the Average American Owe?
As of September 2013 the average US household credit card debt stands at $15,185, the result of a small number of deeply indebted households forcing up the numbers. Based on Federal Reserve statistics, the average household owes $7,084 on their credit cards.
The average American household owed far more than the norm, and also that the average indebted household owed far more than the average household overall. Large discrepancies like this show that a relatively small number of households were deeply in debt.
Here is the takeaway:
- Overall debt is down.
- The average indebted household is less in debt.
