Effective debt management: How to increase savings and get rid of that debt load
Featuring Kristen Holt, GreenPath President & CEO
2 May 2018
Debt is high and savings are low.
Indeed, total household debt rose to an all-time high of $13.15 trillion at year-end 2017, according to the Federal Reserve Bank of New York's Center for Microeconomic Data.
And, as of year-end 2017, some 4.6% of outstanding debt was in some stage of delinquency. Of the $619 billion of debt that is delinquent, the Federal Reserve Bank of New York noted that $406 billion is seriously delinquent - at least 90 days late or "severely derogatory."