US Consumer Debt Statistics and Trends 2012
Consumer Debt are debts that are owed as a result of purchasing goods that are consumable and/or do not appreciate.
Infographic by The Credit Examiner
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In total, American consumers owe:
$11.38 trillion, a decrease of 2.95% from last year
- $852 billion in credit card debt
- $8.15 trillion in mortgages
- $914 billion in student loans, an increase of 7.35% from last year
- $72 billion in auto loans
U.S. Household Consumer Debt Profile:
Average credit card debt: $15,328
Average mortgage debt: $149,782
Average student loan debt: $34,703
Top 10 States with The Highest Consumer Debt
| State | Consumer Debt per Person |
| Alaska | $30,375 |
| Wyoming | $26,779 |
| South Dakota | $26,736 |
| Colorado | $26,424 |
| Maryland | $26,374 |
| Virginia | $26,206 |
| Oklahoma | $26,167 |
| Texas | $26,079 |
| Vermont | $26,059 |
| Washington | $26,020 |
25 percent of Americans have more credit card debt than they have in emergency savings.
Only 54% of consumers have more emergency savings than credit card debt
There are approximately 37 million student loan borrowers with outstanding student loans today.
One in five U.S. households currently includes at least one resident carrying student debt
Mortgage debt accounts for 70% of U.S. consumer debt and, at a little bit more than $8 trillion, is at its lowest level since 2006.
9.0% of outstanding debt was in some stage of delinquency
Non-mortgage consumer debt increased by 2.2% as compared to last year
7 steps to reduce your consumer debt -
- Compile a list of your debts
- Make a budget
- Look at your actual spending
- Start living on your budget
- Adjust your budget
- Pay down your debts
- Put any extra money toward your debts