Free Press wire reports
Youre probably going to die with some debt. A majority of people do.
In fact, 73 percent of Americans had outstanding debt when they died, according to December 2016 data reported by Credit.com.
Those consumers carried an average total balance of $61,554, including mortgage debt. Without home loans, the average balance was $12,875.
Among the consumers who had debt when they died, about 68 percent had credit card balances.
The next most common kind of debt was mortgage debt, 37 percent; followed by auto loans, 26 percent; personal loans, 12 percent; and student loans, 6 percent.
The good news is that most debt is not passed on to your spouse and children when you die as it is in Virginia…
Read the full article at: http://richmondfreepress.com/news/2017/mar/24/dying-debt-advice-experts/
