February 22, 2017

Household Debt Nearing All-Time High

Market Watch reported that 2016 saw the largest hike in American household debt in more than 10 years. Thanks to auto loans, student loans, and mortgages, total household debt reached $226 billion by March of 2016.

Today, household debts are $99 billion away from the all-time peak, $12.7 trillion, which occured in the third quarter of 2008 right before the housing crisis.

In 2017, debt is projected to increase further. This is a scary outlook, but it’s a good reason to keep LUONGO BELLWOAR LLP in your back pocket. We work with those who are struggling to stay on top of their debt. If you need help getting things under control, contact us online or call 610-430-6600.

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