Debt Statistics

I thought I’d share these “Scary Debt Stats” that I found on Fool.com. At least we know we’re not alone.

Scary Debt Stats

$1.7 trillion
Total consumer credit.

$8,562
Credit card debt carried by the average American.

$50 billion
Total finance charges Americans paid in 2001.

$1.6 billion
Market capitalization of AT&T — the entire corporation.

78%
Percent of U.S. households deemed “credit worthy” by the lending industry.

1.3 million
Number of credit card holders declaring bankruptcy last year.