Consumers in the United States had over **** trillion dollars in debt as of the first quarter of 2025. The majority of that debt were home mortgages, amounting to approximately **** trillion U.S. dollars. Student and car loans were the second and third largest component of household debt. Why is consumer debt important? Debt influences the Consumer Sentiment Index, which is an important indicator assessing the state of the U.S. economy. The U.S. housing market is also seen a bellwether of the economic conditions in the country. The housing industry employs a large number of people, and mortgages are large investments that consumers will pay off over the course of years, sometimes decades. Because of this, financial analysts closely watch consumer debt and its effects on the demand for housing. Attitudes towards debt Consumer perception of debt differed, depending on the kind of debt in question. While most saw a home mortgage as a positive investment, they increasingly looked at student loan debt as a negative debt. With education costs increasing, people are incurring more student loan debt in the United States. Credit card debt also had negative connotations.

The average amount of non-mortgage debt held by consumers in the United States has been falling steadily during the past years, amounting to ****** U.S. dollars in 2023. While respondents had ****** U.S. dollars of debt in 2018, that volume decreased to ****** 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 ******* 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 debtEducational expenses were not among the leading sources of debt among consumers in the U.S. in 2022. Instead, they made up about ** percent of the total. However, around ** 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.

The generation X was the group of people with the highest average credit card balance in the United States in the 3rd quarter 2024. That year, the average credit card debt of the generation Z amounted to approximately ***** U.S. dollars. People in the silent generation had a credit card balance of roughly ***** U.S. dollars.

Statistics on student debt, including the average debt at graduation, the percentage of graduates who owed large debt at graduation and the percentage of graduates with debt who had paid it off at the time of the interview, are presented by the province of study and the level of study. Estimates are available at five-year intervals.

Key information about China Household Debt

• China Household Debt reached 11,498.4 USD bn in Jan 2025, compared with the reported number of 11,347.6 USD bn in the previous month
• China Household Debt: USD mn data is updated monthly, available from Jan 2007 to Jan 2025
• The data reached an all-time high of 11,691.0 USD bn in Sep 2024 and a record low of 517.7 USD bn in Jan 2007

CEIC converts monthly Household Debt into USD. The People's Bank of China provides Household Debt in local currency. The Federal Reserve Board period end market exchange rate is used for currency conversions. Loans are used due to the lack of Flow of Funds statistics.


Further information about China Household Debt

• In the latest reports, China Household Debt accounted for 63.3 % of the country's Nominal GDP in Mar 2023
• Money Supply M2 in China increased 44,045.8 USD bn YoY in Sep 2024
• China Foreign Exchange Reserves was measured at 3,209.0 USD bn in Jan 2025
• The Foreign Exchange Reserves equaled 13.9 Months of Import in Dec 2024
• China Domestic Credit reached 49,338.1 USD bn in Jan 2025, representing an increased of 7.9 % YoY

Debt Settlement Market Outlook

The global debt settlement market size was valued at approximately USD 10.5 billion in 2023 and is expected to reach USD 21.6 billion by 2032, growing at a CAGR of 8.2% during the forecast period. This significant growth factor is driven by increasing consumer debt levels and the growing need for financial management solutions. As more individuals and businesses seek relief from mounting debts, the demand for debt settlement services continues to rise, making this sector an essential component of the broader financial services market.

One of the primary growth factors for the debt settlement market is the increasing consumer debt levels worldwide. Amid rising living costs, consumers are increasingly relying on credit to manage their expenses, leading to higher debt burdens. This scenario has made debt settlement services crucial for individuals struggling to manage their finances. Additionally, the economic disruptions caused by events such as the COVID-19 pandemic have exacerbated financial instability, further fueling the demand for debt settlement solutions.

Another significant factor contributing to the market's growth is the increasing awareness and acceptance of debt settlement services. Traditionally, debt settlement might have been viewed with skepticism, but more consumers and businesses are now recognizing its benefits. Effective marketing strategies, consumer education initiatives, and success stories of individuals who have regained financial stability through these services have contributed to this shift in perception. As more people become aware of debt settlement as a viable option, the market is expected to continue its upward trajectory.

The proliferation of digital platforms and the integration of advanced technologies are also pivotal in driving the market forward. The advent of sophisticated debt management software and online service platforms has made it easier for consumers to access debt settlement services. These digital solutions offer greater transparency, efficiency, and convenience, attracting a broader customer base. Moreover, technological advancements like artificial intelligence and machine learning are being leveraged to offer personalized debt management plans, further enhancing the effectiveness of these services.

In the realm of financial management, the Business Debt Management Tool emerges as a pivotal resource for enterprises seeking to streamline their debt settlement processes. This tool is designed to assist businesses in organizing and managing their financial obligations more effectively. By providing a comprehensive overview of outstanding debts, payment schedules, and negotiation opportunities, the Business Debt Management Tool empowers companies to make informed decisions. This not only aids in maintaining financial stability but also enhances the ability to negotiate favorable terms with creditors. As businesses increasingly recognize the importance of strategic debt management, tools like these become indispensable in navigating complex financial landscapes.

Regionally, North America holds a dominant position in the debt settlement market, accounting for a significant share of the global market. This region's leadership can be attributed to high consumer debt levels, a well-established financial services industry, and a mature regulatory framework that supports debt settlement practices. However, other regions such as Asia Pacific and Europe are also witnessing substantial growth, driven by increasing debt levels and the rising adoption of financial management solutions. As economic conditions improve and financial literacy rises, these regions are expected to contribute significantly to the market's expansion.

Component Analysis

The debt settlement market can be segmented by component into software and services. The software segment encompasses various debt management applications and platforms that facilitate the debt settlement process. These software solutions are designed to streamline and automate many aspects of debt management, from initial assessment to negotiation and settlement. The rising adoption of fintech solutions has significantly bolstered the demand for debt settlement software, as these tools offer enhanced efficiency, accuracy, and user-friendly interfaces. Moreover, the integration of AI and machine learning into these platforms enables personalized debt management plans, making them increasingly popular among both consum

As of the last quarter of 2022, Alaska and Hawaii were the states in the U.S. with the highest credit card debt. While the average credit card debt in Alaska amounted to 4,430 U.S. dollars, people from Mississippi only had on average 2,450 U.S. dollars of credit card debt.

Households Debt in the United States decreased to 69.20 percent of GDP in the fourth quarter of 2024 from 70.50 percent of GDP in the third 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 Norway Household Debt: % of GDP

• Norway household debt accounted for 91.3 % of the country's Nominal GDP in Dec 2024, compared with the ratio of 90.4 % in the previous quarter.
• Norway household debt to GDP ratio is updated quarterly, available from Dec 1995 to Dec 2024.
• The data reached an all-time high of 116.3 % in Dec 2020 and a record low of 55.5 % in Mar 2001.

CEIC calculates quarterly Household Debt as % of Nominal GDP from quarterly Household Debt and quarterly Nominal GDP. Statistics Norway provides Household Debt in local currency and Nominal GDP in local currency.


Related information about Norway Household Debt: % of GDP

• In the latest reports, Norway Household Debt reached 443.2 USD bn in Sep 2024.
• Money Supply M2 in Norway increased 5.1 % YoY in Jan 2025.
• Norway Foreign Exchange Reserves was measured at 79.0 USD bn in Feb 2025.
• The Foreign Exchange Reserves equaled 10.5 Months of Import in Jan 2025.
• Norway Domestic Credit reached 667.0 USD bn in Jan 2025, representing an increased of 3.7 % YoY.
• The country's Non Performing Loans Ratio stood at 0.4 % in Dec 2022, compared with the ratio of 0.3 % in the previous year.

According to Cognitive Market Research, the global Debt Settlement market size is USD 289.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 4.00% from 2024 to 2031.

North America held the major market of more than 40% of the global revenue with a market size of USD 115.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 2.2% from 2024 to 2031.
Europe accounted for a share of over 30% of the global market size of USD 86.76 million.
Asia Pacific held the market of around 23% of the global revenue with a market size of USD 66.52 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.0% from 2024 to 2031.
Latin America market of more than 5% of the global revenue with a market size of USD 14.46 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.4% from 2024 to 2031.
Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 5.78 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.7% from 2024 to 2031.
The B2B Type held the highest Debt Settlement market revenue share in 2024

Market Dynamics of Debt Settlement Market

Key Drivers for Debt Settlement Market

Increased Consumer Debt to Increase the Demand Globally

Rising consumer debt tiers, influenced by factors that include scholar loans, clinical payments, and credit card utilization, make contributions to burgeoning customers for debt settlement companies. Mounting economic obligations stresses people, prompting them to search for comfort through debt agreement offerings. Student mortgage burdens, exacerbated with the aid of escalating lesson fees and clinical prices, frequently now not fully protected by using coverage, compound the debt crisis. Additionally, sizable credit card utilization amplifies patron indebtedness. These elements together pressure people to explore debt agreement alternatives, aiming to barter decreased payment arrangements with lenders. Consequently, the demand for debt agreement offerings surges amidst the backdrop of escalating purchaser debt, reflecting the profound effect of financial strain on households.

Greater Awareness of Debt Settlement Services to Propel Market Growth

Heightened advertising endeavors and monetary literacy tasks have fostered broader know-how of debt settlement offerings as a viable approach to debt control. With extra publicity for those options, customers are increasingly open to exploring alternatives beyond traditional debt compensation techniques. Enhanced recognition empowers people to recall debt agreements as a proactive technique to alleviate economic burdens. As they grow to be extra informed about the capacity blessings and implications, clients are much more likely to interact with debt agreement businesses to negotiate favorable phrases with lenders. This shift indicates a fundamental alternate in customer attitudes toward debt management, pushed via education and outreach efforts aimed toward promoting financial empowerment and resilience.

Restraint Factor for the Debt Settlement Market

Negative Impact on Credit Score to Limit the Sales

Debt agreement, even as providing alleviation from overwhelming monetary burdens, frequently involves an amazing drawback: a vast decline in the man or woman's credit score. By negotiating decreased repayment quantities with lenders, individuals efficiently acknowledge an incapacity to fulfill the initial debt duties as agreed upon. Consequently, credit score reporting groups interpret this as a hazard component, main to a downward adjustment within the person's credit rating. This faded score can critically prevent future financial endeavors, consisting of securing loans or traces of credit, as creditors normally view lower credit scores as indicative of heightened repayment danger. Thus, whilst debt settlement provides on-the-spot respite, its lasting impact on creditworthiness underscores the importance of cautiously weighing the trade-offs concerned in pursuing such answers.

Impact of Covid-19 on the Debt Settlement Market

The COVID-19 pandemic has profoundly impacted the debt settlement market, triggering a surge in demand as individuals grapple with financial hardships caused by job losses, reduced incomes, and economic instability [1]. Mounting debts, exacerbated by pandemic-related expenses and disruptions, have driven more people to seek ass...

Debt Negotiation Market Outlook

The global debt negotiation market size is projected to witness significant growth, with an estimated CAGR of 7.5% from 2024 to 2032. In 2023, the market was valued at approximately USD 4.2 billion, and it is expected to reach around USD 7.5 billion by 2032. Major growth factors include increasing consumer debt, rising awareness about debt relief options, and the expansion of financial literacy programs worldwide.

One of the primary growth drivers of the debt negotiation market is the escalating levels of consumer debt globally. With rising costs of living, healthcare, and education, individuals are increasingly relying on various forms of credit, leading to higher debt levels. This surge in consumer debt is fueling the demand for debt negotiation services, as more individuals seek assistance to manage and reduce their financial obligations. Additionally, the economic uncertainty and job losses induced by global events such as pandemics have further exacerbated the debt situation, making debt negotiation services increasingly essential.

Another significant growth factor is the increasing awareness and acceptance of debt negotiation as a viable debt relief option. Over the years, there has been a concerted effort by regulatory bodies, financial institutions, and non-profit organizations to educate consumers about managing debt and the available relief options. This has led to a shift in consumer perception, where more people are now open to seeking professional help to negotiate and settle their debts. As a result, the demand for debt negotiation services has seen a noticeable uptick, contributing to market growth.

The advent of digital platforms and technological advancements is also playing a crucial role in the growth of the debt negotiation market. The integration of technology in financial services has made debt negotiation services more accessible and efficient. Online platforms and mobile applications allow consumers to easily connect with debt negotiation service providers, track their debt settlement progress, and manage their finances more effectively. This technological evolution is not only enhancing the user experience but also broadening the customer base for debt negotiation services, thereby propelling market expansion.

Debt Underwriting Services play a crucial role in the financial ecosystem, particularly in the context of debt negotiation and management. These services involve assessing the creditworthiness of potential borrowers and structuring debt instruments that align with both the borrower's needs and the lender's risk appetite. By providing a thorough analysis of financial statements and market conditions, debt underwriting services help ensure that the terms of the debt are favorable and sustainable for all parties involved. This not only facilitates smoother debt negotiations but also contributes to a more stable financial environment by mitigating the risks associated with high levels of consumer and corporate debt.

Regionally, North America holds a significant share of the debt negotiation market, primarily driven by high consumer debt levels and robust financial literacy initiatives. The region's well-established financial infrastructure and the presence of key market players also contribute to its dominance. However, the Asia Pacific region is expected to exhibit the highest growth rate during the forecast period, owing to rapid urbanization, increasing consumerism, and rising awareness about debt management solutions.

Type Analysis

The debt negotiation market by type includes segments such as credit card debt, medical debt, personal loans, student loans, and others. Credit card debt remains the most prominent segment, primarily due to the widespread use of credit cards and the high-interest rates associated with them. Consumers often find themselves in a cycle of debt due to the revolving nature of credit card balances, making debt negotiation services essential for managing and reducing these liabilities. The increasing prevalence of credit cards in both developed and developing economies continues to drive the demand for credit card debt negotiation services.

Medical debt is another critical segment within the debt negotiation market. With healthcare costs soaring globally, many individuals face significant medical bills that they struggle to pay off. In countries without universal healthcare, this issue is even m

Consumer Debt Settlement Market Outlook

The global consumer debt settlement market size was valued at approximately $4.1 billion in 2023 and is projected to reach $8.3 billion by 2032, growing at a Compound Annual Growth Rate (CAGR) of 7.8%. The market is primarily driven by increasing consumer debt levels, particularly in credit card debt and personal loans, alongside rising awareness and acceptance of debt settlement services. Factors such as economic instability, elevated healthcare costs, and the rising cost of education have significantly contributed to the growing demand for consumer debt settlement solutions.

Firstly, the escalating levels of consumer debt across the globe have been a major growth factor for the market. Many individuals are finding themselves in financial distress due to high-interest debts, prompting them to seek professional help for debt settlement. The introduction of new and innovative debt settlement solutions by key industry players has also driven market growth. Additionally, the increasing use of technology for managing debt settlement processes has improved efficiency and consumer satisfaction, further boosting market expansion. The ease and accessibility of online platforms have made it simpler for consumers to engage with debt settlement services, thus broadening the market base.

Secondly, the growing consumer awareness regarding the advantages of debt settlement over bankruptcy is another significant growth driver. Debt settlement offers a more manageable and less damaging alternative to resolving unpaid debts, preserving the debtorÂ’s ability to secure credit in the future. Increasing campaigns and educational programs by regulatory bodies and financial institutions to inform consumers about the benefits of debt settlement have also played a crucial role. Such initiatives are particularly impactful in regions with high levels of consumer debt, where individuals are more likely to seek professional debt settlement services.

Lastly, the regulatory landscape has played a crucial role in shaping the consumer debt settlement market. Government policies and regulations aimed at protecting consumers from unfair debt settlement practices have bolstered trust in these services. For example, in the United States, the Federal Trade Commission (FTC) has laid down stringent rules that debt settlement companies must follow to ensure transparency and fairness. Such regulations have not only protected consumers but have also enabled reputable firms to thrive, thereby positively affecting market growth. Countries in Europe and Asia-Pacific have also started adopting similar regulatory frameworks, thus standardizing practices and promoting market growth.

Debt Management Services play a pivotal role in the consumer debt settlement market, offering structured solutions to help individuals and businesses manage their financial obligations effectively. These services encompass a range of strategies, including debt consolidation, negotiation, and financial counseling, aimed at reducing the overall debt burden and improving financial stability. By providing personalized plans tailored to the unique financial situations of their clients, debt management services help consumers avoid the pitfalls of bankruptcy and maintain their creditworthiness. The growing demand for these services is driven by the increasing complexity of financial products and the need for professional guidance in navigating debt repayment options. As more consumers become aware of the benefits of debt management services, the market is expected to see continued growth, with service providers expanding their offerings to meet the diverse needs of their clients.

In terms of regional outlook, North America holds the largest share in the global consumer debt settlement market, primarily due to high consumer debt levels and a well-established financial services industry. Europe is also a significant market, with growth driven by regulatory support and increasing consumer awareness. Asia-Pacific is expected to witness the fastest growth, attributed to rising disposable incomes and increasing financial literacy. Latin America and the Middle East & Africa, while currently smaller markets, are showing potential for significant growth due to improving economic conditions and increasing adoption of debt settlement services.

Type Analysis

The consumer debt settlement market is segmented by type into Credit Card Debt, Medical Bills, Personal Loans, Student Loans, a

Key information about Russia Household Debt

• Russia Household Debt reached 395.3 USD bn in Jan 2025, compared with the reported number of 382.7 USD bn in the previous month
• Russia Household Debt: USD mn data is updated monthly, available from Dec 2000 to Jan 2025
• The data reached an all-time high of 525.1 USD bn in Jun 2022 and a record low of 1.7 USD bn in Dec 2000

CEIC converts monthly Household Debt into USD. The Bank of Russia provides Household Debt in local currency based on MFSM 2016. The Bank of Russia period end market exchange rate is used for currency conversions. Loans are used due to the lack of Flow of Funds statistics. Household Debt prior to December 2014 is based on MFSM 2000.


Further information about Russia Household Debt

• In the latest reports, Russia Household Debt accounted for 20.4 % of the country's Nominal GDP in Mar 2024
• Money Supply M2 in Russia increased 1,189.6 USD bn YoY in Jan 2025
• Russia Foreign Exchange Reserves was measured at 386.4 USD bn in Jan 2025
• The Foreign Exchange Reserves equaled 14.9 Months of Import in Oct 2024
• Russia Domestic Credit reached 1,404.0 USD bn in Dec 2024, representing an increased of 19.6 % YoY

Key information about South Korea Household Debt: % of GDP

• South Korea household debt accounted for 93.7 % of the country's Nominal GDP in Sep 2024, compared with the ratio of 93.9 % in the previous quarter.
• South Korea household debt to GDP ratio is updated quarterly, available from Dec 2002 to Sep 2024.
• The data reached an all-time high of 101.9 % in Sep 2021 and a record low of 61.4 % in Mar 2005.

CEIC calculates quarterly Household Debt as % of Nominal GDP from quarterly Household Debt and quarterly Nominal GDP. The Bank of Korea provides Household Debt in local currency and Nominal GDP in local currency, based on SNA 2008. Household Debt includes NPISH. Household Debt prior to Q4 2008 is based on SNA 1993.


Related information about South Korea Household Debt: % of GDP

• In the latest reports, South Korea Household Debt reached 1,742.9 USD bn in Mar 2023.
• Money Supply M2 in South Korea increased 6.7 % YoY in Sep 2024.
• South Korea Foreign Exchange Reserves was measured at 391.9 USD bn in Dec 2024.
• The Foreign Exchange Reserves equaled 7.1 Months of Import in Dec 2024.
• South Korea Domestic Credit reached 3,624.4 USD bn in Sep 2024, representing an increased of 5.3 % YoY.
• The country's Non Performing Loans Ratio stood at 0.4 % in Sep 2024, compared with the ratio of 0.4 % in the previous quarter.

Consumer and Corporate Debt Consolidation Market Outlook

The consumer and corporate debt consolidation market size is projected to grow from USD 2.1 trillion in 2023 to approximately USD 2.7 trillion by 2032, driven by an estimated Compound Annual Growth Rate (CAGR) of 2.9%. This growth is underpinned by factors such as increasing consumer debt levels, and a heightened awareness of financial management strategies. The growing trend among both individuals and businesses to consolidate multiple debts into a single loan has spurred significant interest and investment in this market. This is further accentuated by the increasing number of financial institutions offering tailored debt consolidation services, thus enhancing market dynamics.

One major growth factor in the consumer and corporate debt consolidation market is the rising levels of consumer debt worldwide. This encompasses credit card debts, personal loans, and other forms of consumer credit that have been steadily increasing, fueled by consumer spending and economic cycles. As individuals accumulate various debts, there's a growing need for effective financial management solutions to streamline payments and reduce interest burdens. Debt consolidation serves as an attractive option by amalgamating multiple debt obligations into a singular loan with more favorable terms. This is particularly appealing in developed regions where credit card usage is widespread, and individuals seek to manage their debt more efficiently.

The concept of Consumer Credit plays a pivotal role in the debt consolidation market. It refers to the credit extended to individuals for personal, family, or household purposes, and is a significant component of consumer debt. As consumer credit levels rise, individuals often find themselves juggling multiple credit obligations, including credit card balances, personal loans, and retail financing. This complexity can lead to financial strain, making debt consolidation an attractive option. By consolidating consumer credit into a single loan with potentially lower interest rates, individuals can simplify their financial landscape and focus on managing a single monthly payment. This not only aids in reducing the overall interest burden but also helps in improving credit scores over time, as individuals are better able to meet their financial commitments.

Corporate debt consolidation is also a substantial driver of market growth, particularly as businesses attempt to optimize their balance sheets and manage cash flows more effectively. The post-pandemic era has seen a number of businesses grappling with multiple lines of credit and loans, leading to increased interest in consolidation solutions. These strategies allow businesses to convert high-interest debt into lower-cost financing, thereby freeing up capital for operational needs and growth initiatives. Moreover, small and medium enterprises (SMEs) are increasingly seeking such financial interventions to stabilize their finances, thus contributing to market expansion.

Another key growth factor is the technological advancements in financial services which have facilitated easier access to debt consolidation services. The integration of digital platforms has transformed how debt consolidation services are offered, making them more accessible to a broader audience. Online platforms allow users to easily compare different loan options, understand the terms, and even apply for consolidation loans without the need for physical visits to financial institutions. This technological integration not only streamlines the process for consumers but also expands the reach of service providers, thus driving market penetration across diverse demographics.

Regionally, North America holds a significant share of the debt consolidation market, owing to the high levels of consumer debt and the presence of well-established financial institutions. However, Asia-Pacific is expected to witness the fastest growth during the forecast period, driven by the rising middle-class population and increasing consumer credit demands. The debt consolidation market in Europe is also showing promising trends, as more individuals and corporates seek to simplify their financial obligations in the face of economic uncertainties. Meanwhile, regions such as Latin America and the Middle East & Africa are increasingly adopting these financial strategies, albeit at a slower pace compared to more developed regions.

Type Analysis

The consumer and corporate debt consolidat

Key information about India Household Debt: % of GDP

• India household debt accounted for 17.1 % of the country's Nominal GDP in Mar 2024, compared with the ratio of 14.9 % in the previous year.
• India household debt to GDP ratio is updated yearly, available from Mar 1998 to Mar 2024.
• The data reached an all-time high of 17.1 % in Mar 2024 and a record low of 2.2 % in Mar 1999.

CEIC calculates annual Household Debt as % of Nominal GDP from annual Household Debt and annual Nominal GDP. The Reserve Bank of India provides Household Debt in local currency. Ministry of Statistics and Programme Implementation provides Nominal GDP in local currency based on SNA 2008, at 2011-2012 prices. Loans are used due to the lack of Flow of Funds statistics. Household Debt includes Consumer Durables, Housing and Rest of Personal Loans. Household Debt as % of Nominal GDP is in annual frequency, ending in March of each year.


Related information about India Household Debt: % of GDP

• In the latest reports, India Household Debt reached 617.3 USD bn in Mar 2024.
• Money Supply M2 in India increased 7.9 % YoY in Nov 2024.
• India Foreign Exchange Reserves was measured at 547.5 USD bn in Dec 2024.
• The Foreign Exchange Reserves equaled 9.2 Months of Import in May 2023.
• India Domestic Credit reached 3,168.1 USD bn in Dec 2024, representing an increased of 11.1 % YoY.
• The country's Non Performing Loans Ratio stood at 2.8 % in Mar 2024, compared with the ratio of 3.9 % in the previous year.

Denmark, the Netherlands, and Norway were among the European countries with most indebted households in 2023 and 2024. The debt of Dutch households amounted to *** percent their disposable income in the 2nd quarter of 2024. Meanwhile, Norwegian households' debt represented *** percent of their income in the 3rd quarter of 2023. However, households in most countries were less indebted, with that ratio amounting to ** percent in the Euro area. Less indebtedness in Western and Northern Europe There were several European countries where household's debts outweighed their disposable income. Most of those countries were North or West European. However, the indebtedness ratio in Denmark has been decreasing during the past decade. As the debt of Danish households represented nearly *** percent in the last quarter of 2014, which has fallen very significantly by 2024. Other countries with indebted households have been following similar trends. The households' debt-to-income ratio in the Netherlands has also fallen from over *** percent in 2013 to *** percent in 2024. Debt per adult in Europe In Europe, the value of debt per adult varies considerably from an average of around 10,000 U.S. dollars in Europe to a much higher level in certain countries such as Switzerland. Debts can be formed in a number of ways. The most common forms of debt include credit cards, medical debt, student loans, overdrafts, mortgages, automobile financing and personal loans.

Dutch households had over 839 billion euros of outstanding mortgage loans as of the third quarter of 2024, the highest value on record. Despite its relatively small population size, the Netherlands had a much higher mortgage debt than most other European countries and was not far from those found in the United Kingdom, France, or Germany. This has a political background, as the Dutch government, for many years, wanted to help people to buy a house. The tax system allowed homeowners to deduct interests paid on mortgage from pre-tax income for a maximum period of thirty years. This was known as hypotheekrenteaftrek, and consequently led to the Netherlands becoming the European country with the second-highest share of the population who is an owner-occupier with a mortgage. Since 2014, the Dutch government is slowly scaling this tax facility down, with an acceleration planned from 2020 onwards. What are the biggest companies in the Dutch mortgage market? The top three banks, ABN AMRO, Rabobank and ING, provided 45 percent of mortgages in the Netherlands in the second quarter of 2023. Another seven percent of the market was provided by banks outside the traditional top three. Note that these are combined numbers, as there are no market shares that look at mortgage providers individually. Banks, insurance companies, regiepartijen (funds that originate mortgage loans on behalf of institutional investors, no English word exists for this term) and other providers do not have to share this information openly. The risk of underwater mortgages As many people in the Netherlands both own a house and have a mortgage as well, a big theme is the risk of a house going underwater or negative home equity. This occurs when people effectively pay more for their mortgage than their house is worth and happened, for example, between 2009 and 2013, when the average valuation of a house outweighed the average selling price. For this risk alone, one can find much data on residential property in the Netherlands. For example, quarterly pulse monitors state that housing prices in the Netherlands are set to decline in 2024.

Debt Adjustment Market Outlook

The global debt adjustment market size was valued at approximately USD 10 billion in 2023 and is projected to reach around USD 18.5 billion by 2032, growing at a CAGR of 7.2% during the forecast period. Factors such as rising consumer debt levels, increased financial awareness, and the surge in small and medium enterprises (SMEs) seeking debt management solutions are key drivers fueling this market growth.

One of the primary growth factors for the debt adjustment market is the escalating levels of consumer debt worldwide. As individuals and businesses continue to incur debt, often due to economic uncertainties and fluctuating market conditions, the demand for debt adjustment services is expected to rise. This trend is particularly pronounced in urban areas where credit utilization is higher, and debt management becomes a critical financial planning tool. Governments and financial institutions also promote debt adjustment services as they help in stabilizing the overall economic framework by reducing default rates.

Another significant factor contributing to the market's growth is the increasing financial literacy among consumers. With the proliferation of information via the internet and social media, more people are becoming aware of the various debt adjustment strategies available, such as debt consolidation, credit counseling, and debt settlement. This heightened awareness is prompting individuals and businesses to seek professional advice to manage their debts more effectively, thereby boosting the market for debt adjustment services.

The advent of digital platforms is also playing a crucial role in expanding the market. Online debt adjustment services provide ease of access, convenience, and a broader range of options for consumers. These platforms often come with user-friendly interfaces, making it easier for individuals and businesses to understand and evaluate their debt management options. Moreover, the integration of advanced technologies like artificial intelligence and machine learning in these platforms is enhancing the accuracy and efficiency of debt adjustment services, further driving market growth.

Debt Financing Solutions have become increasingly pivotal in the landscape of debt adjustment services. As businesses and individuals navigate the complexities of managing their financial obligations, these solutions offer tailored approaches to restructuring debt. They provide a strategic framework that not only addresses immediate financial challenges but also aligns with long-term financial goals. By leveraging debt financing, companies can optimize their capital structure, reduce financing costs, and improve cash flow management. This approach is particularly beneficial for small and medium enterprises (SMEs) that require flexible financial solutions to support growth and operational efficiency. As the market continues to evolve, the demand for innovative debt financing solutions is expected to rise, driving further advancements in the sector.

Debt Consolidation Analysis

Debt consolidation services are one of the most popular segments within the debt adjustment market. This segment involves combining multiple debts into a single, more manageable loan with a lower interest rate. The primary advantage of debt consolidation is the simplification of debt management, as it reduces the number of monthly payments and often results in lower overall interest costs. Financial institutions, including banks and credit unions, heavily promote these services as they not only help customers manage their debts but also increase customer retention rates.

The demand for debt consolidation services is particularly high among individuals with multiple credit card debts, student loans, and personal loans. As credit card debts usually carry high-interest rates, consolidating these debts into a single loan with a lower interest rate can lead to significant savings. Additionally, the rising cost of higher education has led to an increase in student loans, making debt consolidation an attractive option for recent graduates struggling with multiple loan repayments.

Small and medium enterprises (SMEs) also constitute a significant portion of the demand for debt consolidation services. SMEs often face cash flow challenges and may have multiple lines of credit or short-term loans. Consolidating these debts can provide them with the financial stability needed to focus on business g

Graph and download economic data for Household Debt Service Payments as a Percent of Disposable Personal Income (TDSP) from Q1 1980 to Q1 2025 about disposable, payments, debt, personal income, percent, personal, households, services, income, and USA.