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US Household Debt Hits Record $13.5 Trillion As Delinquencies Hit 6 Year High

• by Tyler Durdan

It was also the 17th consecutive quarter with an increase in household debt, and the total is now $837 billion higher than the previous peak of $12.68 trillion, from the third quarter of 2008. Overall household debt is now 21.2% above the post-financial-crisis trough reached during the second quarter of 2013.

Mortgage balances—the largest component of household debt—rose by $141 billion during the third quarter, to $9.14 trillion. Credit card debt rose by $15 billion to $844 billion; auto loan debt increased by $27 billion in the quarter to $1.265 trillion and student loan debt hit a record high of $1.442 trillion, an increase of $37 billion in Q3.

1 Comments in Response to

Comment by Ed Price
Entered on:

Wrong! You've been tricked. When you sat across from the bank loan officer for that $10,000 loan - your credit check said you were a good "risk" - He slid that piece-of-paper/promissory-note across the desk for you to sign. If you didn't sign the piece of paper, would it have value? If you sign it, does it have value? When does the banker give you the $10,000? Only after you sign the paper, right? After you sign, you give him the thing of value as a loan, and he pays it off by giving you $10,000 cash/bank-check in return. "Top Secret Bankers Manual By Thomas Schauf" - Google "Thomas Schauf."

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