From the Web: Mortgages, Credit Cards Are Leading Forms of Debt for Consumers
10/25/2017 1:29 PM
Most consumers’ credit card balances are relatively low, according to GoBankingRates
GoBankingRates’ latest survey on debt in the U.S. shows what most of us already know – consumers have various debts of various sizes.
Sixty-five percent of the 2,500 consumers surveyed have mortgage debt while 21 percent have medical debt. Fifty percent of the survey respondents have credit card debt, however the majority of balances are less than $500.
GoBankingRates also finds that 25 percent of respondents have student loan debt, with the most common balance being less than $1,000. Among the respondents with medical debt, their balances are less than $500, according to the survey.
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