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Americans Are Carrying Record Household Debt into 2024

Collection Industry News

Household Debt Is at an All-Time High Household debt across all categories grew by 4.8% This includes mortgages, home equity revolving debt, auto loans, credit cards, student loans and other consumer lending such as retail cards. The total household debt of $17.3 Keep your eyes on the prize: a debt-free life.

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Americans Are Carrying Record Household Debt into 2024

Collection Industry News

Auto loan and mortgage debt increased by 4%, while student loan debt saw a modest rise of 1.6%. Household debt in the “Other” category — which includes retail cards and other consumer loans — also saw a substantial increase of 7.7% Ridley, who helps clients manage debt, offered some general advice for debt management.