Americans’ Debt Crisis WORSENS: 20% of Families Behind on Payments!
Americans' ability to stay current on their debts has hit levels not seen since the aftermath of the Great Recession, with nearly 20% of families behind on loan payments. This is a significant increase from the prior survey, where the portion of families behind on loan payments was around 12%. The report also shows that those behind by two months or more accelerated considerably, moving to more than 8% from 5% in 2022. Despite the growing debt problem, the net worth of higher earners soared, with those in the top income group seeing their median net worth rise 31%. The report raises concerns about the financial health of American families. To stay up-to-date on the latest financial news and trends, be sure to subscribe to our channel.
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