Consumers in Debt

  • In the 12 months prior to March 2011, 9 percent of American adults have been late making a credit card payment. This is compared to 12 percent in the same 12 months in 2010 and 15 percent in the same 12 months in 2009.
    (Source: National Foundation for Credit Counseling, 2011 Financial Literacy Survey, March 2011)
  • More than 1 in 4 American adults (28 percent) admit to not paying their bills on time and 7 percent have debts in collection. This compared to 26 percent of Americans, or more than 58 million adults, who admitted to not paying their bills on time in 2009.
    (Source: National Foundation for Credit Counseling, 2011 Financial Literacy Survey, March 2011
Total Debt Balance and its Composition (in Trillions)
Year & Quarter Mortgage HE Revolving Auto Loan Credit Card Student Loan Other Total
99:Q1 3.20 0.08 0.35 0.48 0.43 4.54
99:Q2 3.31 0.08 0.35 0.48 0.41 4.63
99:Q3 3.46 0.09 0.38 0.50 0.39 4.82
99:Q4 3.37 0.10 0.39 0.50 0.40 4.76
00:Q1 3.62 0.10 0.41 0.52 0.41 5.06
00:Q2 3.71 0.11 0.44 0.54 0.45 5.25
00:Q3 3.82 0.10 0.46 0.53 0.43 5.34
00:Q4 3.90 0.12 0.47 0.58 0.44 5.51
01:Q1 4.08 0.12 0.51 0.60 0.45 5.76
01:Q2 3.84 0.13 0.51 0.61 0.44 5.53
01:Q3 4.17 0.14 0.52 0.63 0.43 5.89
01:Q4 4.15 0.16 0.55 0.64 0.43 5.93
02:Q1 4.45 0.17 0.58 0.63 0.43 6.26
02:Q2 4.43 0.18 0.58 0.66 0.45 6.30
02:Q3 4.74 0.20 0.61 0.68 0.46 6.69
02:Q4 4.66 0.22 0.63 0.69 0.46 6.66
03:Q1 4.94 0.24 0.64 0.69 0.48 6.99
03:Q2 5.08 0.26 0.62 0.69 0.49 7.14
03:Q3 5.18 0.27 0.68 0.69 0.48 7.30
03:Q4 5.66 0.30 0.70 0.70 0.45 7.81
04:Q1 5.84 0.33 0.72 0.70 0.45 8.04
04:Q2 5.97 0.37 0.74 0.70 0.42 8.20
04:Q3 6.21 0.43 0.75 0.71 0.41 8.51
04:Q4 6.36 0.47 0.73 0.72 0.42 8.70
05:Q1 6.51 0.50 0.72 0.71 0.39 8.83
05:Q2 6.70 0.53 0.77 0.72 0.40 9.12
05:Q3 6.91 0.54 0.83 0.73 0.41 9.42
05:Q4 7.10 0.56 0.79 0.74 0.42 9.61
06:Q1 7.44 0.58 0.79 0.72 0.42 9.95
06:Q2 7.76 0.59 0.80 0.74 0.42 10.31
06:Q3 8.04 0.60 0.82 0.75 0.44 10.65
06:Q4 8.23 0.60 0.82 0.77 0.41 10.83
07:Q1 8.42 0.60 0.79 0.76 0.40 10.97
07:Q2 8.71 0.62 0.81 0.80 0.41 11.35
07:Q3 8.93 0.63 0.82 0.82 0.41 11.61
07:Q4 9.10 0.65 0.82 0.84 0.42 11.83
08:Q1 9.23 0.66 0.81 0.84 0.42 11.96
08:Q2 9.27 0.68 0.81 0.85 0.40 12.01
08:Q3 9.29 0.69 0.81 0.86 0.41 12.06
08:Q4 9.26 0.70 0.79 0.87 0.41 12.03
09:Q1 9.14 0.71 0.77 0.84 0.41 11.87
09:Q2 9.06 0.71 0.74 0.82 0.39 11.72
09:Q3 8.94 0.71 0.74 0.81 0.38 11.58
09:Q4 8.84 0.71 0.72 0.80 0.38 11.45
10:Q1 8.83 0.70 0.70 0.76 0.36 11.35
10:Q2 8.70 0.68 0.70 0.74 0.35 11.17
10:Q3 8.61 0.67 0.71 0.73 0.34 11.06
10:Q4 8.45 0.67 0.71 0.73 0.34 10.90
11:Q1 8.54 0.64 0.71 0.70 0.33 10.92
11:Q2 8.516 0.625 0.713 0.694 0.845 0.330 11.723
11:Q3 8.402 0.639 0.730 0.693 0.865 0.327 11.656
11:Q4 8.268 0.627 0.734 0.704 0.867 0.330 11.530
(Source: FRBNY Consumer Credit Panel/Equifax)

Number of Consumers With New Forclosures
and Bankruptcies (in Thousands)
Year & Quarter Foreclosure Bankruptcy
99:Q3 136.54 442.28
99:Q4 124.40 448.52
00:Q1 170.48 428.66
00:Q2 127.84 533.50
00:Q3 138.10 452.16
00:Q4 159.44 471.44
01:Q1 166.26 465.22
01:Q2 159.12 659.46
01:Q3 167.96 524.38
01:Q4 167.40 564.70
02:Q1 271.76 778.84
02:Q2 172.50 568.54
02:Q3 187.18 550.10
02:Q4 188.18 551.76
03:Q1 203.32 612.26
03:Q2 169.90 628.66
03:Q3 178.16 542.44
03:Q4 193.24 516.02
04:Q1 186.06 534.90
04:Q2 171.44 579.32
04:Q3 168.80 530.52
04:Q4 184.14 572.92
05:Q1 171.52 462.08
05:Q2 148.78 662.50
05:Q3 157.90 667.92
05:Q4 166.72 948.62
06:Q1 172.86 213.86
06:Q2 179.42 250.96
06:Q3 189.26 271.28
06:Q4 220.20 276.16
07:Q1 267.66 258.84
07:Q2 243.90 290.56
07:Q3 325.44 318.42
07:Q4 348.52 352.32
08:Q1 429.80 326.86
08:Q2 455.44 385.46
08:Q3 446.58 404.08
08:Q4 424.04 431.76
09:Q1 517.38 413.90
09:Q2 566.18 524.08
09:Q3 488.58 517.56
09:Q4 465.80 486.86
10:Q1 456.50 463.18
10:Q2 483.76 621.42
10:Q3 457.32 521.52
10:Q4 447.06 500.12
11:Q1 368.06 433.60
11:Q2 284.22 473.36
11:Q3 264.34 423.34
11:Q4 289.38 425.40
(Source: FRBNY Consumer Credit Panel/Equifax)

Total Debt Per Capita* by State (in Thousands)
(In the table below is the total debt per capita for the states of Arizona, California,
Florida, Illinois, Michigan, & New Jersey. In the following table is the debt per
for Nevada, New York, Ohio, Pennsylvania, Texas, and National)
Year & Quarter AZ CA FL IL MI NJ
99:Q1 23.35 31.76 20.11 21.81 19.77 26.39
99:Q2 23.71 33.41 20.22 21.48 19.03 26.51
99:Q3 24.34 33.83 20.58 23.17 21.23 27.28
99:Q4 23.37 33.81 20.26 23.17 21.42 27.04
00:Q1 25.79 34.88 21.78 25.25 22.66 27.94
00:Q2 26.62 36.11 22.50 25.37 23.46 28.43
00:Q3 27.62 36.89 22.55 25.99 24.01 28.53
00:Q4 26.76 36.18 22.47 25.58 23.97 27.77
01:Q1 28.61 37.96 23.60 26.45 24.48 29.23
01:Q2 26.06 36.04 22.20 25.30 24.02 27.83
01:Q3 27.96 37.15 23.35 27.04 25.09 29.91
01:Q4 27.35 36.73 23.77 26.83 24.67 29.07
02:Q1 29.08 38.31 23.99 28.46 26.27 30.90
02:Q2 28.93 36.95 24.38 28.09 27.42 32.48
02:Q3 30.62 40.93 25.89 30.11 28.50 33.72
02:Q4 30.04 40.45 26.24 29.26 28.47 33.01
03:Q1 31.67 43.06 27.59 31.75 29.96 35.20
03:Q2 32.67 43.99 28.11 32.62 30.31 35.40
03:Q3 32.90 45.25 29.09 32.91 31.05 36.32
03:Q4 35.79 48.80 30.73 35.54 32.63 39.24
04:Q1 36.29 50.91 31.66 36.21 33.61 40.91
04:Q2 37.56 52.21 32.83 36.74 34.49 42.15
04:Q3 39.59 55.67 34.38 38.05 35.58 44.15
04:Q4 40.24 57.10 35.18 38.94 36.19 44.94
05:Q1 40.69 59.03 35.56 39.44 36.09 45.33
05:Q2 42.78 61.49 36.60 40.36 36.70 46.83
05:Q3 43.79 63.58 38.85 43.00 36.99 47.81
05:Q4 45.78 65.88 39.46 42.14 37.17 49.34
06:Q1 48.66 69.77 41.40 43.43 37.97 51.62
06:Q2 51.98 72.74 43.75 45.00 38.52 52.76
06:Q3 54.48 76.12 46.05 46.35 39.03 54.55
06:Q4 55.68 77.47 48.29 46.26 39.23 55.59
07:Q1 57.56 79.25 49.36 46.49 39.12 55.75
07:Q2 59.73 80.83 51.40 47.04 39.61 58.19
07:Q3 61.97 82.68 53.35 48.36 39.51 58.23
07:Q4 63.58 86.02 54.63 50.75 40.08 60.70
08:Q1 64.76 87.69 56.41 51.57 40.52 62.09
08:Q2 65.70 87.38 56.16 52.91 40.96 63.19
08:Q3 63.94 87.33 56.60 53.36 40.47 64.10
08:Q4 63.23 86.03 55.99 52.93 40.82 64.03
09:Q1 62.82 85.31 55.36 51.67 40.21 63.60
09:Q2 60.93 84.64 54.74 51.20 39.82 61.56
09:Q3 57.97 82.36 53.20 50.61 39.14 61.68
09:Q4 58.79 80.65 51.61 49.55 37.97 61.78
10:Q1 56.02 79.37 51.67 49.33 37.94 62.70
10:Q2 54.40 77.53 49.74 48.66 37.00 61.39
10:Q3 52.86 76.03 48.46 47.68 36.34 62.05
10:Q4 51.50 73.88 47.17 46.59 35.61 60.79
11:Q1 51.51 74.37 46.91 46.83 35.54 61.89
11:Q2 51.52 74.24 47.53 48.58 37.19 61.81
11:Q3 50.88 72.99 47.3 48.36 36.74 63.2
11:Q4 49.52 71.6 46.7 47.86 36.78 62.67
*Based on the population with a credit report
(Source: FRBNY Consumer Credit Panel/Equifax)

Total Debt Per Capita* by State Cont’d (in Thousands)
Year & Quarter NV NY OH PA TX ALL
99:Q1 25.73 19.86 17.99 17.59 18.01 21.47
99:Q2 27.12 20.13 18.27 18.51 18.72 22.00
99:Q3 28.31 21.04 18.50 18.43 19.25 22.79
99:Q4 25.64 21.12 19.32 18.92 18.94 22.77
00:Q1 27.43 22.09 20.97 19.82 19.77 23.98
00:Q2 28.57 22.58 21.78 20.22 20.56 24.60
00:Q3 29.03 22.85 22.05 20.29 20.15 24.94
00:Q4 29.62 22.63 22.10 20.08 20.50 24.87
01:Q1 30.88 23.66 21.78 20.49 21.60 25.77
01:Q2 29.08 21.52 22.10 19.89 20.32 24.49
01:Q3 30.92 23.83 23.04 21.01 21.43 25.96
01:Q4 31.50 23.54 23.14 20.57 21.23 25.72
02:Q1 32.45 24.63 24.26 21.94 21.75 26.95
02:Q2 34.98 25.17 24.40 21.51 21.90 27.08
02:Q3 35.11 26.26 26.28 22.80 23.60 28.69
02:Q4 36.73 26.30 25.73 22.90 23.02 28.42
03:Q1 37.64 27.65 27.49 23.91 24.22 30.17
03:Q2 38.01 28.08 28.54 24.04 24.41 30.71
03:Q3 38.19 28.99 28.85 24.59 25.17 31.33
03:Q4 42.12 31.00 30.24 26.20 26.03 33.40
04:Q1 43.08 31.77 30.57 26.98 26.50 34.27
04:Q2 44.24 32.14 30.59 28.02 26.41 35.04
04:Q3 46.07 33.12 30.65 28.40 26.89 36.35
04:Q4 50.24 34.17 30.89 29.19 27.38 37.30
05:Q1 51.76 34.73 31.02 29.37 27.35 37.74
05:Q2 52.44 35.93 31.88 30.36 28.18 38.83
05:Q3 54.84 37.48 32.10 30.47 28.87 40.00
05:Q4 57.56 37.41 31.78 31.16 28.98 40.66
06:Q1 61.55 39.30 32.16 31.82 28.88 41.90
06:Q2 66.73 40.05 32.68 32.52 29.95 43.45
06:Q3 70.93 41.36 33.35 33.08 30.78 45.02
06:Q4 72.13 42.79 33.59 33.63 30.89 45.83
07:Q1 73.82 43.75 33.98 34.00 31.75 46.23
07:Q2 78.57 45.07 34.65 35.17 32.31 47.60
07:Q3 81.30 46.38 34.21 35.48 32.76 48.72
07:Q4 82.63 48.36 35.17 37.81 34.11 50.22
08:Q1 87.52 49.10 36.18 38.33 35.49 51.49
08:Q2 87.93 50.04 36.72 39.35 36.42 52.33
08:Q3 85.88 50.37 36.70 39.73 36.53 52.30
08:Q4 85.26 49.93 36.66 40.00 36.57 52.19
09:Q1 89.02 50.45 35.93 39.58 36.18 51.55
09:Q2 80.44 50.21 36.06 38.99 36.09 51.15
09:Q3 80.53 49.60 35.71 39.30 35.85 50.54
09:Q4 76.29 49.29 35.49 38.97 35.81 49.83
10:Q1 75.25 49.48 35.22 38.74 35.48 49.51
10:Q2 72.53 49.42 34.92 38.17 35.34 48.82
10:Q3 67.88 48.92 34.56 38.37 35.15 48.29
10:Q4 64.75 48.35 34.05 38.10 34.60 47.39
11:Q1 63.98 47.64 33.94 37.89 34.60 47.42
11:Q2 61.02 49.53 35.6 39.19 35.56 48.47
11:Q3 59.05 49.7 35.55 38.93 35.71 48.26
11:Q4 56.93 49.56 35.33 39.23 35.45 47.80
*Based on the population with a credit report
(Source: FRBNY Consumer Credit Panel/Equifax)
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