After a significant period of belt tightening following the Great Recession, Americans have once again amassed a worrisome amount of debt. Eighty percent of Americans are in debt, with 39 percent in credit card debt, according to a July 2015 report by the Pew Charitable Trusts.
The average U.S. credit card holder owes $7,789 in unpaid credit card debt, according to a March 2016 study from CardHub.com. The study also showed that Americans amassed $71 billion in credit card debt in 2015 alone. U.S. financial consumers are falling into toxic debt in other key areas, as well.
