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 Bank of America Predicts Surge to $3,000 as Central Banks and Investors Rally READ MORE Fed Vice Chair Warns of Challenges on Road to Inflation Target READ MORE January Inflation Breakdown READ MORE HSBC Introduces Groundbreaking Tokenized Gold in Hong Kong READ MORE BRICS Nations' Gold Rush: Safeguarding Economies Against US Recession Fears READ MORE Add a Comment Cancel replyYour email address will not be published.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