Household Debt and Credit in the United States
August 18, 2010    Disclosures    POSTED IN  Personal FinanceEconomy
The Federal Reserve Bank of New York releases a quarterly report on household debt and credit. The Q3 2010 report was recently released and sheds some light on the changing credit and debt profile of U.S. consumers in aggregate. The majority of the report consists of charts with a few excerpted here.
A few highlights: 
  • Total debt has been falling and is now at about $11.7 trillion
  • More credit card accounts were closed than opened last year
  • New bankruptcies rose to 34% to 621,000
  • Nearly 500,000 individuals were foreclosed upon
  • Auto loans rose by approximately 25%
Selection of charts from the report:

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