5 Most Common Kinds Of Debt In The US

Debt isn’t always a bad thing—”good debt” is money owed for items or investments that can help build wealth, such as mortgages.

But money owed on purchases that provide little financial gains, can quickly accrue as “bad debt” that can weigh down a person’s personal finances.

– Total debt: $320 billion (2% of all debt in the U.S.)

5. Home Equity  Revolving Debt

4. Credit Card Debt

– Total debt: $840 billion (5.3% of all debt in the U.S.)

– Total debt: $1.47 trillion (9.3% of all debt in the U.S.)

3. Auto Loan Debt

2. Student Loan Debt

– Total debt: $1.59 trillion (10.0% of all debt in the U.S.)

– Total debt: $11.18 trillion (70.6% of all debt in the U.S.)

1. Mortgage Debt

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