USAinDebt

Oct 02

Getting Out of the Debt Hole: Your First Steps

Credit Cards, Retirement & Savings, Debt, Read & Learn, Student Loans No Comments »

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US household debt reached the whooping $12,817.2 billion by the end of last year - a constantly growing combination of consumer credit ($2,430.8 billion) and mortgage debt ($9,704.7 billion). The numbers are steadily increasing since 1966, becoming a major problem for millions of Americans. For the year of 2006, per-household debt liability is estimated at $510678.(1)

Most individuals & families have combined debt from several sources: PayDay Loans (PDL), Credit Cards, Department Store Cards, Personal Loans, Student Loans, Credit Union Loans, Auto Loans & Mortgage. Taxes and Medical Bills are also accounted as a major percentage of what’s currently owed.

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About

USA in Debt is not just meant for people who are in debt. This blog will contain whatever I find interesting in the finance field. Credit Cards, Student Loans, Investments, Finance Management, 401(k), Roth IRAs, Insurance, Personal Loans, as well as citations and comments on articles, published in different forums, blogs, newspapers and magazines. Expect to see my ramblings as well as news, interesting facts, explanations of different terms, tips & advices, jokes and just everything else. I will try to post as often as I can and I hope to build a steady stream of visitors, many of which I believe will come back to find new and interesting things to read and comment on. Your comments are welcome and always appreciated, as long as it is not plain advertising, gibberish or profanity (spam that will be deleted immediately and automatically). New ideas and suggestions are welcome as well.

Disclaimer: The information on this website reflects my personal opinion. Any decisions you make regarding your finances are based solely on your own decision. I am not responsible for any losses.