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  • 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.

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