What have you always wondered about the economy? Tell us
Source: New York Fed Consumer Credit Panel/Equifax
Chart of the Day

Chart of the day: Personal debt keeps growing

Raghu Manavalan Dec 1, 2016
Source: New York Fed Consumer Credit Panel/Equifax

One out of three Americans has at least one debt in collections. That includes credit card debt, car loans, medical bills, unpaid parking tickets or even unpaid gym memberships.

The national debt comes up all the time in politics, but what the government owes might be less important to the economy than what people personally owe. Today, Americans owe more than $11 trillion worth of debt. Roughly $830 billion of that is delinquent, unpaid or in collections.

As a result, the U.S. debt industry employs more than 300,000 people. You can find out more about how growing personal debt is affecting Americans in the latest installment of our “How the Deck is Stacked” series.

 

As a nonprofit news organization, our future depends on listeners like you who believe in the power of public service journalism.

Your investment in Marketplace helps us remain paywall-free and ensures everyone has access to trustworthy, unbiased news and information, regardless of their ability to pay.

Donate today — in any amount — to become a Marketplace Investor. Now more than ever, your commitment makes a difference.