San Francisco, CA -- (SBWIRE) -- 06/04/2013 -- BestNoCreditCheckCashLoans.com recently launched a new info-graphic on U.S. consumer debt. With insightful facts and figures, this informative graphic is a must for any U.S. consumer or commercial customer. Based on the infographic, consumer debt entails the outstanding debt of consumer bases as a whole. This, of course, differs from business and government debt, such as deficits. Consumer debt is used to fund consumption rather than investments. In fact, it includes debts incurred and amassed on consumable goods that have been purchased.
According to the infographic, American consumers owe in excess of $11.25 trillion in debt. This includes $846.2 billion in credit card debt, along with $7.88 trillion in mortgages. Americans also owe $1,028.3 billion federally financed student loans. The infographic also highlights the average debt of most U.S. households. Based on their profiles, American households have an average credit card debt of $15,162. The average mortgage debt is also $147,967, while the average student debt is around $33,445.
In terms of college debt, the average amount owed for most graduates is $20,000. 14.7% of U.S. families also have debt that exceeds 40% of their income. In a recent study, 90% of surveyed participants believe they have the same/less debt than the average U.S. consumer. An additional 31% of all consumer debt is considered “revolving credit.” The latter is also considered the most common type of consumer debt in the nation.
Based on the infographic, U.S. consumers owe over $793.1 billion credit card debt. While 40% of cardholders have a balance of less than $1,000, most undergraduate college students carry an average credit card debt of $3,173. An additional $1,157 is also the average balance open per card. While 13.9% of disposable incomes goes to help alleviate credit card debt, $19,000 is the combined credit limit per consumer.
The infographic also covers recent credit card debt statistics courtesy of the Federal Reserve.
About Best No Credit Check Cash Loans
If you are among the millions of American consumer that need financial assistance, simply visit BestNoCreditCheckCashLoans.com today. They have helped countless consumers’ secure timely and effective loans. With the ongoing fiscal crisis, it’s simply hard to make ends meet. Don’t let bad credit affect your monetary and loan options. To see their newly created infograph, visit - http://www.bestnocreditcheckcashloans.com/do-you-really-need-a-loan.
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