Household Debt Hits Record High

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Total U.S. household debt has reached a record $14.15 trillion. This is an increase of 1.4% or $193 billion per the Fed’s Quarterly Report on Household Debt and Credit.

This means that total household debt is $1.5 trillion higher than it was in the pre-recession peak of $12.68 trillion in the third quarter of 2008.

This an 22nd consecutive quarterly increase for household debt which includes a balance increase for mortgages in the amount of $120 billion, non-housing balances increased by $79 billion for a record high $4.20 trillion, $16 billion in auto loans, $46 billion in credit card balances, and $10 billion in student loans.

Considering filing for bankruptcy, then contact Attorney Alex Hernandez for your free consultation. Twenty years of bankruptcy having represented thousands of clients.

Attorney Alex Hernandez

Representing clients in the areas of Chapter 7 Bankruptcy, Family Law/Divorce, and car and motorcycle accidents for 20 years. (904) 712-5565 or (305)-688-LAWS (5297). *Se Habla Español

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