Survey Shows Americans Drowning in Debt American households are facing increasingly heavy debt burdens, with the average monthly debt payment soaring to $1,583, a substantial increase from the $300 monthly average in 2020. This alarming trend, revealed in a recent LendingTree study analyzing anonymized credit reports from mid-2023, encompasses various types of active debt including mortgages, auto loans, credit cards, personal loans, and student loans. The study indicates that mortgages are the predominant component of this debt, with average monthly payments of $1,855. Auto loans follow as the second-largest debt category, with monthly payments averaging $690, a figure that is escalating alongside rising interest rates on these loans. Additionally, personal loans constitute the third-largest debt category, with average payments of $517 per month. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts OPEC Slashes Oil Demand Growth Outlook for 2024 and 2025 READ MORE Gold's Appeal Grows: Survey Shows Investors Increase Gold Allocations READ MORE Fed's Rate Cut Expectations Delayed as US Economy Proves Robust READ MORE Dollar Rises as Geopolitical Tensions Mount; Oil Prices Climb Amid Middle East Concerns READ MORE Fed Chair Balances Inflation Fight with Economic Growth in Congressional Testimony READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment