American Consumers Start 2013 with a Staggering Average Household Credit Card Debt of $15,422, according to reported by Cloud Technology Systems, Inc

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Although American households have an average of $15,422 of credit card debt the average student loan debt is $34,703 and average mortgage debt tops out at $149,782 according to statistics published at

average student loan debt is $34,703

As a comparison the average household credit card debt has fallen from about $19,000 in 2009 to its current household average of $15,422 as illustrated by the line graph from Many see this as a good sign for consumers but the statistics do not take into account that during the same time period that due to individual bankruptcy and credit card company write offs and charge offs also reduces the average household credit card debt.

The write credit card company’s charge-off rate tripled between 2006 and 2010 causing credit issuers to take notice which in turn tightened credit that was extended to credit card borrowers according to

The bankruptcy rate during this period of time has also increased which causes debt to no longer be considered when calculating the household average. States with higher than average credit card debt such as Tennessee and Nevada, according to, have also experienced the higher than average bankruptcy rates in recent years. According to Google’s search tool bankruptcy attorney Memphis TN shows an increase in searches for bankruptcy attorneys and related topics in the Tennessee area.

Author Bio
Joseph McClain is a writer for Cloud Technology Systems, Inc. Joseph has published two kindle eGuides Bad Credit Credit Cards and The Best Credit Card Rewards. Joseph can be contacted through his YouTube Channel Credit Cards For Bad Credit

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Joseph McClain