Latest Posts
Home > Debt Articles > Good News and Bad News About U.S. Consumer Debt

Good News and Bad News About U.S. Consumer Debt

The census bureau has released a new report that chronicles household debt in the U.S. from 2000-2011.

The good news is that fewer households are carrying some form of debt. In 2011 69 percent of households did compared to 74 percent in 2000.

The bad news is that those that are carrying debt are carrying more. In 2011 dollars the amount of debt households carried in 2000 was $50,971 and in 2011 it had shot up to $70,000.

If we break down those numbers of increased debt the amount of secured debt rose from $69,749 in 2000 to $91,000 in 2011. The amount of unsecured debt rose from $5,365 to $7,000.

Good News and Bad News About U.S. Consumer Debt

The statistics also tell us older age groups are growing debt faster when they can least afford to deal with it. The 55 to 64 age group had household debt increase by 64 percent and for those over 65 the median household debt more than doubled.

Between 2000 and 2011 the number of households carrying credit card debt decreased from 51 percent in 2008 to 38 percent in 2011. But the evidence continues to build showing that medical debt and student loan debt continue to saddle households. The level of that debt carried by households rose from 11 percent to 19 percent with households younger than 45 carrying more of this detrimental debt.

Good News and Bad News About U.S. Consumer Debt

If you would like to read the full report, click here.

Good News and Bad News About U.S. Consumer Debt
Get Out of Debt Guy – Twitter, G+, Facebook

If you have a credit or debt question you’d like to ask just use the online form. I’m happy to help you totally for free.

Share This and Spread the Word

About Steve Rhode

Steve Rhode
Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

Get My FREE Get Out of Debt Guy Newsletter

It is the smart thing to do.

I promise to keep your email safe and secure.

Close

I want to keep you posted each weekday with just one email about the latest get out of debt news, scam alerts and information to beat back debt.

You can unsubscribe at any time with just one click.

After you subscribe, check your email to confirm your subscription. If the confirmation email does not appear in your inbox in a few minutes, check your spam folder for it. Sometimes it likes to annoyingly hide there.


  • It will keep you posted on the latest scams.
  • You will be alerted to the latest articles.
  • You will wind up smarter than everyone else dealing with debt.