Advantage Credit Counseling Services Publishes a New Infographic on US Consumer Debt Statistics

A new infographic published by Advantage Credit Counseling Services highlights some of the latest figures and trends in consumer debt for 2013. While there was a dip in total household debt, many Americans are still struggling to get their monthly payments under control.

In general, while fewer households have debt, the ones that do carry debt have more. The largest carrier of debt remains the age group 35-44 with median debt at $108,000, an increase of $21,350 over last year. However, the largest debt increase fell on older generations. Among Americans aged 55-64 median debt increased by $27,346 (to about $70,000). The likelihood of coming into debt for those 65 and older also rose (to 44%) while the likelihood of debt for all age groups below 65 fell slightly.

Average household credit card debt for 2013 is $15,216. This marks a decrease over years in the thick of the recession; however, this is largely due to defaults rather than successful repayment. On average, students are graduating college with more credit card debt than they used to (over $2,000) on top of student loans. Average student loan debt is over twice the average credit card debt at $32,054. Average mortgage debt is predictably the highest value at $148,443.

National debt totals have been reaching new heights in recent years. Credit card debt is almost at $850 billion, student loan debt has reached a historical high of $993 billion, and mortgages have risen to $7.9 trillion.

To avoid bankruptcy, more consumers are turning to consumer credit counselors. Every year, roughly 2-2.5 million Americans actively seek credit counselors to help them recover from debt. On average, these individuals carry $43,000 in debt and held a balance on 2 credit cards. Working with a credit counselor to eliminate your debt can reduce interest rates, saving potentially hundreds of dollars in interest charges every month. This also greatly contributes to reducing monthly payments.

For more debt and credit card statistics, view the full Advantage CCS infographic here: http://www.advantageccs.org/2013-debt-stats.html.


Advantage CCS is a certified non-profit credit counseling organization. Counseling services include online credit counseling, pre-filing bankruptcy counseling, debt management plans, credit report reviews, and more. For more information about how you can benefit from credit counseling, contact Advantage CCS: http://www.advantageccs.org/.