Fix My Finances

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.

Christy Patrick wrote this on April 9th, 2005 and filed it under Fix My Finances |