If you think that I am exaggerating even a little bit, please read over the following list very carefully. The following are 12 statistics that prove that the U.S. is facing a consumer debt apocalypse…
#1 Total consumer debt in the United States just surpassed the 4 trillion dollar mark. That has never happened before in all of U.S. history.
#2 When you throw in mortgages and all other kinds of individual debt, U.S. consumers are now 13.5 trillion dollars in debt.
#4 U.S. consumers are carrying 870 billion dollars worth of balances on their credit cards right now.
#5 56 percent of Americans that currently have credit card balances have been carrying them for more than a year.
#6 The number of “seriously delinquent”credit card accounts in the U.S. has shot up to 37 million.
#7 Americans now owe a total of 1.3 trillion dollars on their auto loans.
#8 At this moment, more than 7 million Americans are delinquent on their auto loan payments. The figure has already surpassed what we witnessed during the peak of the last recession by about a million.
#10 Right now, more than 166 billion dollars in student loan debt is considered to be “seriously delinquent”.
#11 Millennials are now more than a trillion dollars in debt. No generation of Americans has ever been deeper in debt at this stage in life.
#12 One recent survey found that 78 percent of Americans “are living paycheck to paycheck”. Suffocating debt levels are a big reason why that figure is so incredibly high.