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American Household Debt Load Statistics

 

American households that struggle with debt and seek financial counseling to alleviate the problem are carrying more than $20,000 in credit card balances on average.

This is more than double the debt of the average household carrying credit balances, and more than three times the average credit card debt of all households in the U.S.

The analysis of over 40,000 consumers also shows that the average person or household seeking budgeting assistance has 5.60 credit cards.

This data is based on information from consumers who sought financial counseling since 2018.

Debt burden is a leading source of financial stress. If this is a major stress in your life, call ACCC to speak to a certified credit counselor today.

 American Consumer Credit Counseling (ACCC) provides credit counseling, financial education and debt relief options for individuals and families with too much credit card debt or unsecured personal debt. Our certified credit counselors have helped thousands of consumers find credit card debt relief by learning how to reduce debt and how to get out of credit card debt. Our debt assistance services and debt management plans allow consumers to consolidate credit card bills into a single payment, and provide help with negotiating credit card debt in order to lower interest rates and finance charges, to ultimately eliminate debt through a credit card payoff plan.

American Consumer Credit Counseling - Consolidate Debts - Better Business Bureau American Consumer Credit Counseling - Consolidate Debts - Mass Housing Approved National Industry Standards for Homeownership Education and Counseling American Consumer Credit Counseling - Consolidate Debts  - Council on Accreditation American Consumer Credit Counseling - Consolidate Debts  - NFCC Member