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STOP Collector Blog From the law firm of Lemberg & Associates

A Snapshot of Consumer Debt

The Federal Reserve Bank of New York issues a quarterly report on household debt and credit. Their report covering the fourth quarter of 2012 provides an interesting snapshot of where Americans stand when it comes to debt:

Total Consumer Indebtedness: $11.34 trillion
Mortgage Balances: $8.03 trillion
Home Equity Lines of Credit: $563 billion
Debt in Delinquency: $978 billion
New Bankruptcies: 336,000
New Foreclosures: 210,000
Student Loan Balances: $966 billion
90+ Day Student Loan Delinquency: 11.7%
New Auto Loans: $89.4 billion

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Author
Sergei Lemberg

Sergei Lemberg is the principal at Lemberg & Associates, a consumer law firm that defends consumer rights in the areas of fair debt collection law, fair credit law, and lemon law, among others. He is regularly labeled by the debt collection industry as one of the “most active consumer attorneys” in the U.S.

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