Just How In Debt (with CCs) Is The Average American?

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Originally posted by Hetmann
I think people are carrying a lot more debt these days than they are willing to admit to.

The percentage of income used to service debt has hit an all-time high (13.5-14% IIRC). Considering we have experienced a 2-4 year window of record low interests rates, this has potential to sink a lot of folks.

Does anyone remember the interest rate on their HELOC in 2004? Do you know what it is now? If you don't, you may want to sit down first.