Overdue Bills Are Rising With US Debt Delinquencies, Fed Survey Shows
- In the first quarter, US household debt rose by $184 billion
- Maxed out credit card borrowers are falling behind on payments
The data highlights the mounting financial pressures on American families in an age of elevated inflation.
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US household debt has reached a record and more borrowers are struggling to keep up.
Overall US household debt rose to $17.7 trillion, according to the Federal Reserve Bank of New York’s Quarterly Report on Household Debt and Credit released Tuesday. That’s an increase of $184 billion, or 1.1%, from the fourth quarter.