Depending on your sources, Americans are either in a lot of credit card debt trouble, or not much at all.
Bankrate.com lists 25 fascinating facts about personal debt, including:
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. Banks would not lend to them; they rented their homes and if they did own a house, it was paid for as it was being built.
Some 40 percent of American families annually spend more than they earn.
Average credit card debt among all American households is $8,400.
Average card debt among people who have at least one card is $9,205 -- triple what it was in 1990.
But then, if you look at another source like MSN Money Central's The Truth About Credit Card Debt, you hear something completely different:
Only 29% of households owe $1,000 or more on their cards.
23.8% of American households have no credit cards at all -- no bank cards, no retail cards, nothing.
Another 31.2% of the households the Fed surveyed paid off their most recent credit card bills in full.
So who do we believe? Are these facts even mutually exclusive? It's possible that 60% of people have their debt affairs in order, and 40% are in various states of debt trouble, I suppose. It's an interesting case of using numbers to tell different stories.
In any case, it looks like all sides agree that average debt is rising, and that a certain percentage of people have incredible debt as it is. But is that percentage 1% of all Americans, 10%, or more? Are they the exception or the rule? What's your experience?
wow great i have read many articles about this topic and everytime i learn something new i dont think it will ever stop always new info , Thanks for all of your hard work
Posted by: Generic Viagra | Dec 19, 2010 at 09:58 PM
wow great i have read many articles about this topic and everytime i learn something new i dont think it will ever stop always new info , Thanks for all of your hard work!
Posted by: shokz guide review | Dec 21, 2010 at 10:46 PM
Fantabulous, out of this world…great man, you have proved the world that innovation is not lost from the universe. I am so influenced by your way of expression; I think I will work to improve mine…great going dude!!!
Posted by: Generic Viagra 100mg | Dec 28, 2010 at 01:17 AM
I have study a couple of the blogposts on your blog these few days, and I truly like your way of blogging. I tag it to my favorites blog list and will be checking back soon. Please check out my internet site too and let me know your thought.
Posted by: TreyAvilaOA | Jan 13, 2011 at 12:30 AM
Nice effort man. You simply created the whole of scene and traversed me to the location in person. However, I was a bit bored by the time I reached the conclusion part. Maybe you can write a bit shorter articles. What say??
Posted by: Generic Viagra | Feb 02, 2011 at 02:04 AM
I have flair in writing and wish to grow ahead in the same field. Can you help me out in knowing how do you manage to be so good and perfect in your writing? I want to know if there is any coaching class or exams that I may have to join to polish my English language.
Posted by: Generic Viagra | Feb 14, 2011 at 10:52 PM
No wonder they say China is the next super power!
Posted by: Xenical | Apr 24, 2011 at 01:41 AM
I am so influenced by your way of expression .
Posted by: logo design | May 13, 2011 at 04:13 AM
Its very nice to read such a fantastic post like this. I am very much happy that I found this blog. I enjoyed reading every little bit of it.Some interesting and well researched information on cameras. I’ll put a link to this site on my blog. Thanks for sharing.
Posted by: sildenafil citrate | May 15, 2011 at 01:55 AM
I love your article. It can help me get much useful information. Hope to see more words in it. I think you will have interests to see http://cashnowpaydayloans.net/
Posted by: payday loan | May 25, 2011 at 07:30 PM
This is a really good read for me, Must admit that you are one of the best bloggers I ever saw.Thanks for posting this informative article.Keep blogging.
Posted by: Round Rock Remodeling Contractors | Jun 21, 2011 at 10:28 AM
This is a wonderfully written article. You must have done a lot of research in this area. You have made this topic easy to read, interesting and easy to understand.
Posted by: the truth about abs | Aug 05, 2011 at 07:44 PM
Your idea really captivates me, I seldom find thoughtful blog post like yours.
Posted by: home based business | Aug 09, 2011 at 08:47 PM
I would like to appreciate the great work done by You
Posted by: Generic Viagra Online | Aug 10, 2011 at 05:00 AM
I was just looking for this and found your blog.
Posted by: credit repair how | Aug 10, 2011 at 09:35 PM
I'm a big fan of your site and I read it regularly. Keep up the excellent work!
Posted by: buy facebook fans | Aug 20, 2011 at 04:02 PM
I thought it was enjoyable at best.Very good have nothing to say.
Posted by: credit repair lawyers | Sep 12, 2011 at 01:12 AM
It is must in UK to use credit and debit card. It is good and very helpful to getting shopping. It is easy to use and don't get money at shopping time. So people like it.
Posted by: Hire seo experts | Sep 23, 2011 at 03:36 AM
Stunning..!!! it made me stop and to look into it deeply, its so wonderful i wana appreciate you from the bottom of my feelings, fantastic keep it up
Posted by: best organic seo services | Sep 26, 2011 at 02:28 PM
I just encountered your blog and loved it a lot. I bookmarked it, keep up the good work!
Posted by: angry birds seasons help | Sep 27, 2011 at 11:41 PM
I really like your writing style, good information, thanks for posting.
Posted by: Abilene TX Blinds | Oct 13, 2011 at 09:07 PM
continually I visited your blog looking for some news about this, and thanks to your wonderful work all the time I find just I need to know.
Posted by: xl pharmacy | Nov 30, 2011 at 01:21 PM
am also interested in this topic. I have spent a lot of time on searching this kind of topic. It is very informative.
Posted by: drug forum | Jan 06, 2012 at 08:37 AM
This is an informative post .. i will be looking forward to your other posts.
Posted by: Schaumburg fitness | Jan 23, 2012 at 12:01 AM