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 Powell Signals Delay in Rate Cuts Amid Ongoing Inflation Concerns READ MORE VanEck CEO Bullish on Bitcoin and Gold Amid Global Economic Shifts READ MORE Young Borrowers Struggle as Credit Card Debt Hits 14-Year High READ MORE Fed Holds Rates Steady, Hints at Easing Monetary Policy Soon READ MORE UBS Forecasts Silver Price Rebound Following Fed Rate Cuts READ MORE Add a Comment Cancel replyYour email address will not be published.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