The average amount of non-mortgage debt held by consumers in the United States has been falling steadily during the past years, amounting to 21,800 U.S. dollars in 2023. While respondents had 38,000 U.S. dollars of debt in 2018, that volume decreased to 29,803 U.S. dollars in 2019, which constituted the largest year-over-year decrease.

What age groups are more indebted in the U.S.? The age group with the highest level of consumer debt in the U.S. was belonging to the Generation X with approximately 154,700 U.S. dollars of debt in 2022. The next generations with high consumer debt levels were baby boomers and millennials, whose debt levels were similar. In comparison, credit card debt is more equally distributed across all ages. There is an exception among people under 35 years old, who are significantly less burdened with credit card debt. However, most consumers expect to get rid of their debt in the short term.

College expenses as a source of debt Educational expenses were not among the leading sources of debt among consumers in the U.S. in 2022. Instead, they made up about ten percent of the total. However, around 39 percent of undergraduates from lower-income families had student loans, while over a fifth of undergraduates from higher-income families had student loans. Independently of how they cover these expenses, the confidence of students and parents about being able to pay these college costs was high in most cases.

Credit card debt in the United States has been growing at a fast pace between 2021 and 2024. In the third quarter of 2024, the overall amount of credit card debt reached its highest value throughout the timeline considered here. COVID-19 had a big impact on the indebtedness of Americans, as credit card debt decreased from 927 billion U.S. dollars in the last quarter of 2019 to 770 billion U.S. dollars in the first quarter of 2021. What portion of Americans use credit cards? A substantial portion of Americans had at least one credit card in 2024. That year, the penetration rate of credit cards in the United States was 67 percent. This number increased by nearly seven percentage points since 2014. The primary factors behind the high utilization of credit cards in the United States are a prevalent culture of convenience, a wide range of reward schemes, and consumer preferences for postponed payments. Which companies dominate the credit card issuing market? In 2023, the leading credit card issuers in the U.S. by volume were JPMorgan Chase & Co. and American Express. Both firms recorded transactions worth over one trillion U.S. dollars that year. Citi and Capital One were the next banks in that ranking, with the transactions made with their credit cards amounting to over half a trillion U.S. dollars that year. Those industry giants, along with other prominent brand names in the industry such as Bank of America, Synchrony Financial, Wells Fargo, and others, dominate the credit card market. Due to their extensive customer base, appealing rewards, and competitive offerings, they have gained a significant market share, making them the preferred choice for consumers.

Households Debt in the United States decreased to 70.50 percent of GDP in the third quarter of 2024 from 70.70 percent of GDP in the second quarter of 2024. This dataset provides - United States Households Debt To Gdp- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Key information about United States Household Debt

• United States Household Debt reached 18,036.0 USD bn in Dec 2024, compared with the reported number of 17,943.0 USD bn in the previous quarter
• US Household Debt: USD mn data is updated quarterly, available from Mar 1999 to Dec 2024
• The data reached an all-time high of 18,036.0 USD bn in Dec 2024 and a record low of 4,540.0 USD bn in Mar 1999

• In the latest reports, United States Household Debt accounted for 61.7 % of the country's Nominal GDP in Dec 2024
• Money Supply M2 in United States increased 21,533.8 USD bn YoY in Dec 2024
• United States Foreign Exchange Reserves was measured at 34.9 USD bn in Dec 2024
• The Foreign Exchange Reserves equaled 0.1 Months of Import in Dec 2024
• United States Domestic Credit reached 30,648.3 USD bn in Mar 2024, representing an drop of 0.3 % YoY

This statistic shows the main sources of consumer debt in Colombia as of September 2018. At that time, the consumer debt portfolio in Colombia was estimated at 131.5 trillion Colombian pesos, of which 48.1 trillion pesos were Colombians' outstanding debt via payday loans.

In the first quarter of 2024, household debt in the United States amounted to over 71 percent of its GDP. It can be generally observed that U.S. households are more indebted by the end of the year than in any other quarter. The debt of households peaked in the last quarter of 2020, reaching the highest value since 2013. Debt to GDP ratio As it can be observed here, the household debt to GDP ratio decreased overall in the recent years. The steady growth of the gross domestic product in the United States could be a factor explaining this tendency. If the volume of debt grows at a slower pace than the GDP, the debt to GDP ratio would decrease. In addition to that, the overall value of mortgage debt in the U.S., which is the most significant component of the household debt, decreased from 2012 to the third quarter of 2014, but it has rebounded since then. Public debt in the U.S. Public debt in the United States, which is the amount of money borrowed by the government to finance budget deficits, has been increasing almost every single year. Not only that, but according to that forecast it is also expected to keep increasing during the coming years. The major holders of American government debt, as of December 2022, were Federal Reserve and government accounts and foreign and international holders. The ratio of national debt to GDP of the United States was higher than that of other major economies, but lower than that of Japan. Some of the lowest debt to GDP ratios were observed in Hong Kong SAR, Kuwait, and Turkmenistan.

Brazil Consumer Debt and Default Survey: Type of Debt (Percentage of Total Household): Payment Booklet data was reported at 16.719 % in Sep 2020. This records a decrease from the previous number of 17.264 % for Aug 2020. Brazil Consumer Debt and Default Survey: Type of Debt (Percentage of Total Household): Payment Booklet data is updated monthly, averaging 16.859 % from Jan 2010 (Median) to Sep 2020, with 129 observations. The data reached an all-time high of 30.386 % in Jan 2010 and a record low of 13.855 % in Jul 2018. Brazil Consumer Debt and Default Survey: Type of Debt (Percentage of Total Household): Payment Booklet data remains active status in CEIC and is reported by National Confederation of Commerce of Goods, Services and Tourism. The data is categorized under Brazil Premium Database’s Domestic Trade and Household Survey – Table BR.HG003: Consumer Debt and Default Survey: by Type of Debt.

Households Debt in China decreased to 60.10 percent of GDP in the third quarter of 2024 from 60.40 percent of GDP in the second quarter of 2024. This dataset provides - China Households Debt To Gdp- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Households Debt in Canada increased to 100.39 percent of GDP in the fourth quarter of 2024 from 100.32 percent of GDP in the third quarter of 2024. This dataset provides - Canada Households Debt To Gdp- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Key information about Hong Kong SAR (China) Household Debt: % of GDP

• Hong Kong SAR (China) household debt accounted for 87.8 % of the country's Nominal GDP in Dec 2024, compared with the ratio of 88.8 % in the previous quarter.
• Hong Kong SAR (China) household debt to GDP ratio is updated quarterly, available from Mar 1982 to Dec 2024.
• The data reached an all-time high of 96.2 % in Mar 2023 and a record low of 14.6 % in Jun 1982.

• In the latest reports, Hong Kong SAR (China) Household Debt reached 359.2 USD bn in Dec 2024.
• Money Supply M2 in Hong Kong SAR (China) increased 7.3 % YoY in Dec 2024.
• Hong Kong SAR (China) Foreign Exchange Reserves was measured at 421.3 USD bn in Dec 2024.
• The Foreign Exchange Reserves equaled 9.3 Months of Import in May 2023.
• Hong Kong SAR (China) Domestic Credit reached 1,011.8 USD bn in Oct 2024, representing an drop of 0.2 % YoY.
• The country's Non Performing Loans Ratio stood at 2.2 % in Sep 2024, compared with the ratio of 2.1 % in the previous quarter.

Brazil Consumer Debt and Default Survey: Portion of Income Committed To Debt (Percentage of Indebted): More than 10 Minimum Wage: Average Share (Percentage of Income) data was reported at 27.902 % in Sep 2020. This records a decrease from the previous number of 28.123 % for Aug 2020. Brazil Consumer Debt and Default Survey: Portion of Income Committed To Debt (Percentage of Indebted): More than 10 Minimum Wage: Average Share (Percentage of Income) data is updated monthly, averaging 28.019 % from Jan 2010 (Median) to Sep 2020, with 129 observations. The data reached an all-time high of 31.946 % in Mar 2012 and a record low of 26.280 % in Jul 2018. Brazil Consumer Debt and Default Survey: Portion of Income Committed To Debt (Percentage of Indebted): More than 10 Minimum Wage: Average Share (Percentage of Income) data remains active status in CEIC and is reported by National Confederation of Commerce of Goods, Services and Tourism. The data is categorized under Brazil Premium Database’s Domestic Trade and Household Survey – Table BR.HG008: Consumer Debt and Default Survey: Portion of Income Committed to Debt.

Households Debt in India decreased to 42.10 percent of GDP in the third quarter of 2024 from 42.30 percent of GDP in the second quarter of 2024. This dataset provides - India Households Debt To Gdp- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Households Debt in Mexico increased to 16.60 percent of GDP in the third quarter of 2024 from 16.50 percent of GDP in the second quarter of 2024. This dataset provides - Mexico Households Debt To Gdp- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Brazil Consumer Debt and Default Survey: Type of Debt (Percentage of Total Households): Up to 10 Minimum Wage: Meat data was reported at 17.641 % in Sep 2020. This records a decrease from the previous number of 18.050 % for Aug 2020. Brazil Consumer Debt and Default Survey: Type of Debt (Percentage of Total Households): Up to 10 Minimum Wage: Meat data is updated monthly, averaging 18.271 % from Jan 2010 (Median) to Sep 2020, with 129 observations. The data reached an all-time high of 31.438 % in Jan 2010 and a record low of 14.895 % in Jul 2018. Brazil Consumer Debt and Default Survey: Type of Debt (Percentage of Total Households): Up to 10 Minimum Wage: Meat data remains active status in CEIC and is reported by National Confederation of Commerce of Goods, Services and Tourism. The data is categorized under Brazil Premium Database’s Domestic Trade and Household Survey – Table BR.HG003: Consumer Debt and Default Survey: by Type of Debt.

Consumer Debt and Default Survey: Portion of Income Committed To Debt (Percentage of Indebted): More than 10 Minimum Wage: Average Share (Percentage of Income)在2020-09达27.902 %，相较于2020-08的28.123 %有所下降。Consumer Debt and Default Survey: Portion of Income Committed To Debt (Percentage of Indebted): More than 10 Minimum Wage: Average Share (Percentage of Income)数据按月度更新，2010-01至2020-09期间平均值为28.019 %，共129份观测结果。该数据的历史最高值出现于2012-03，达31.946 %，而历史最低值则出现于2018-07，为26.280 %。CEIC提供的Consumer Debt and Default Survey: Portion of Income Committed To Debt (Percentage of Indebted): More than 10 Minimum Wage: Average Share (Percentage of Income)数据处于定期更新的状态，数据来源于National Confederation of Commerce of Goods, Services and Tourism，数据归类于Brazil Premium Database的Domestic Trade and Household Survey – Table BR.HG008: Consumer Debt and Default Survey: Portion of Income Committed to Debt。

This statistic shows the consumer perception of selected types of debt in the United States in 2017. In that year, only 13 percent of the respondents said that credit card debt was "good debt", whereas 59 percent thought it was "bad debt".

Households Debt in Greece decreased to 39.30 percent of GDP in the third quarter of 2024 from 39.80 percent of GDP in the second quarter of 2024. This dataset provides - Greece Households Debt To Gdp- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Households Debt in Argentina increased to 4.20 percent of GDP in the third quarter of 2024 from 3.60 percent of GDP in the second quarter of 2024. This dataset provides - Argentina Households Debt To Gdp- actual values, historical data, forecast, chart, statistics, economic calendar and news.

In 2023, 968 billion U.S. dollars worth of student loans were in forebearance in the United States. This is due to the coronavirus (COVID-19) pandemic, where the government paused repayment of student loans and froze the accumulation of interest. This is compared to 112 billion U.S. dollars worth of student loans that were in default. As of the fourth quarter of 2022, outstanding student loan debt in the U.S. was valued at approximately 1.76 trillion U.S. dollars.

Graph and download economic data for Total Consumer Credit Owned and Securitized (TOTALSL) from Jan 1943 to Jan 2025 about securitized, owned, consumer credit, loans, consumer, and USA.