Total U.S. household debt increased $147 billion in third quarter, with 3.5% of outstanding debt in … [+]
Total household debt jumped $147 billion to top $17.94 trillion last quarter with balances increasing in mortgages, credit cards and auto loans, according to the latest data from the New York Federal Reserve released Wednesday.
Not only are Americans borrowing more, it seems they’re not paying it off at an increasing rate, as credit delinquency inched up from 3.2% to 3.5% for the same period.
These data serve as a wake-up call for many to get their financial books in order over the next six weeks and help prepare for a fresh start with the New Year — and who wouldn’t like that?
Credit card…
