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Federal Reserve Report Digs Into Consumer Debt

By on November 28, 2011
Federal Reserve Report Digs Into Consumer Debt

A new Federal Reserve report is out that describes the status of household debt and credit developments in the third quarter of 2011.

The report shows the total amount of indebtedness is still mostly contracting.

The number of credit card accounts is still down to near decade low levels.

Car loans are slightly increasing while new mortgages continue to dwindle.

Credit cards still have a balance of 90+ day late balances.

Average credit scores are in the 690 range.

The states with the highest amount of debt per person. Looks like New Jersey is the up and coming target for increasing consumer debt.

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About 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.

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