Next year, $1 trillion worth of adjustable-rate mortgages - about 11% of all outstanding mortgage debt - is scheduled to readjust to a higher interest rate for the first time.
- MSNBC.com, September 6, 2006
Seniors, many of whom are on fixed incomes, are carrying an average of over $4,000 in credit-card debt.
- Newsweek, September 11, 2006
$12,338 is the average credit-card debt among people who carry a balance.
- Kiplinger's, November 2006
In a worldwide survey, 22% of U.S. consumers said they have no money left after paying basic living expenses. (Portugal was the only country topping the US with 23%.)
- Kiplinger's, November 2006
Of the 7.7 million households who took out ARMs over the past two years to buy or refinance, up to 1 million could lose their homes through foreclosure over the next five years.
- USA Today, April 3, 2006
1.8 million people filed for bankruptcy in 2005, a new record.
- USA Today, March 23, 2006
US households overspent their incomes by $575 in January 2006.
- USA Today, March 2, 2006
28% of workers say they are one setback away from financial disaster.
- Money, March 2006
Bankruptcies are at a record level as people finance their lifestyles with debt.
- The New York Times, December 11, 2005
Debt in the United States has doubled in the past 10 years.
- USA Today, April 29, 2005
Almost one out of every five people make only the minimum monthly payment on their credit card.
- Business Week, April 25, 2005
Sobering and scary statistics -- and these affect our performance as a profession. Thanks for the eye opening information.