One-Third of all Adult Americans are in Debt Collection

NEW YORK (CNNMoney)

Americans have a debt problem.

An estimated 1 in 3 adults with a credit history — or 77 million people — are so far behind on some of their debt payments that their account has been put “in collections.”

That’s a key finding from a new Urban Institute study.
It examined non-mortgage debt, including credit card bills, car loans, medical bills, child support payments and even parking tickets.
The debt in collections ranged from as little as $25 to a whopping $125,000. But the average amount owed was $5,200.

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10 thoughts on “One-Third of all Adult Americans are in Debt Collection

    1. Am I reading that map correctly that almost all the deadbeats are in southern “red” states? Those are the VERY same areas that are always screaming about our President running up the National Debt.

  1. The United States has a debt problem. Important areas of our economy are being cut back because of budget restraints. And now:

    “This week, legislators will discuss a $225 million request from the Defense Department to urgently bolster Israel’s Iron Dome missile defense system.

    Republicans and Democrats are clashing over whether to approve the funds in a larger spending bill or separately, though no one publicly opposes the payments. Senate appropriators already have approved doubling next year’s money for the system.”

    SOURCE: http://news.yahoo.com/israel-war-us-lawmakers-full-support-055517701.html

    NOTE: Israel is already the largest recipient of U.S. Foreign Aid by a very large margin.

  2. Why are people in debt? They don’t live within their means and they rather stay home and not work! Their cry: “I’m poor, I’m poor, woe is poor lil me, I’m poor”(while sucking on thumb).

    I remember M_R a nun in our private exclusive elementary education. Every morning she would ask what is the word for the day. Many times the word became SELF CONTROL.

      1. I wish people understood economics more. Sometimes when fiscal decisions are made in Washington, it takes years to notice the difference.
        EXAMPLES:
        1. Jimmy Carter made some very unpopular fiscal decisions and Reagan took the credit when things got better.
        2. Reagan made some very self-servicing fiscal decisions and they didn’t really show up until 2007 and Bush got the blame.

        People who have good jobs don’t seem to realize how hard it is to get a good job, even if you’re very qualified. For that matter, getting ANY job has become ALOT harder. We sit back and make observations because we’re out of it now, retired. Scares the hell out of me if I was 30 years younger.

        1. Right, NON…I’m in agreement! So, don’t say I never agree with you, LOL!

          All decisions lately are based on politics and not policy. The masses have no lobbyist on their behalf, that died with the death of the labor unions, globalization, and polarization.

      2. I didn’t say that. Credit? Banks? Politicians?

        CREDIT: Did our grandparents have a credit card? Our parents until
        after we left the nest? Even in adult married life, heaven help me if I took the folks out to dinner and go to pay with a credit card. I was told “how ridiculous”, right. Either I paid in cash or dad would and then I had to pay him back later. I bet the M-R house wasn’t to far from that! Lay-a-way, omg that was a cuss word…Cars were paid at the time of purchase. The only item was the home mortgage on time, and that was paid off in half the time…..Self control, it was my friend.

        BANKS: In my house banks were cursed for a cause of the Great Depression. A banker was equal to a used car salesman. Thanks to a Democratic President Clinton, he signed away all the protections of the New Deal legislation of protecting us from Banks and Wall Street.

        POLITICIANS: “not a dimes worth of difference” for the most part. But the “40s, 50’s and 60’s did give us some good legislators.

        Was it because they and we were constantly reminded of the Great Depression?

        “uncontrolled masses”? Really? It seems to me the masses are fairly well controlled. Your representative, your Senator, your Ohio legislature, and your Governor are doing a pretty good job of that…Is your Ohio Supreme Court defending the rights of the masses to be free? Again did Clinton help the masses by ending “welfare as we know it.” I think not!

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