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Dwight Walker
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Dwight Walker   My Press Releases

Announcement: Massive Debt Load in US Must Read Info.

Published on 8/10/2017
For additional information  Click Here

Hello Everyone,

We are just about there and the numbers have never lied. Americans now collectively have the most outstanding revolving debt — often summarized as credit card debt — in U.S. history, according to a report Monday released by the Federal Reserve.

How much do you think it is?  Well just brings in an astonishing 1.21 Trillion in revolving debt but wait, don't forget the 2.83 Trillion in non revolving debt!

“This record should serve as a wake-up call to Americans to focus on their credit card debt,” said Matt Schulz, a senior industry analyst at CreditCards.com, a credit card website. “Even if you feel your debt is manageable right now, know that you could be one unexpected emergency away from real trouble.” Real trouble doesn't even begin to bring it down to reality!

For the first time since the Great Recession (remember, 2007,08,09), lenders have given more consumers with sub-prime, or below average, credit scores, access to credit cards, but they are giving them lower spending limits, according to the credit reporting agency TransUnion. Is this not what caused the first recession to begin with?

The New York Federal Reserve released a report in May that showed U.S. collective household debt balances totaled $12.73 trillion in March 2017, surpassing the 2008 peak of $12.68 trillion.

This isn’t the first debt milestone Americans have hit recently. The Federal Reserve announced in April that the U.S. had $1 trillion in credit-card debt. (Consumers hit that number previously in the fourth quarter of 2016, but had eased on their use of revolving credit during January 2017.The Fed announcement showed revolving consumer credit hit more than $1 trillion once again in February 2017 and has continued to climb.)

The scariest part is compared with 2008, fewer borrowers have housing-related debt and, instead, more have taken on auto and student loans.This is backed up by previous research: Student loans have made it harder for younger consumers to buy homes; plus, lower housing prices are also tied to higher student loan default rates. So basically the new debt is on depreciating items rather than smart investment like homes or rental property. When things go wrong the very first thing people do is to stop paying on credit card loans and student loans. They will however pay on their cars for as long as they can but when you're really in financial trouble, it will inevitably be repossessed.


Here’s how the numbers stack up for indebted Americans in 2017: Housing-related debt is down nearly $1 trillion since the 2008 peak, but auto loan balances are $367 billion higher, and student loans are a whopping $671 billion higher, according to the Federal Reserve. Previous Fed studies have shown Americans struggle with their auto debt, which often has high interest rates. The number of subprime auto loans that have fallen into delinquency hit their highest level since 2010 during December 2016. At that time, nearly 6 million people were at least 90 days late on their payments. That is similar consumer behavior to what was seen just before the 2007 - 2009 recession, experts say.

New auto loans to borrowers with credit scores below 660 have nearly tripled since the end of 2009. So far in 2016, about $50 billion of new auto loans per quarter have gone to those borrowers and about $30 billion each quarter has gone to borrowers with scores below 620, according to data the Fed provided, citing credit-score tracker Equifax.

Are you starting to see the big picture yet? It's a tough cookie to swallow, but all the signs are pointing to some rough times ahead. Right now, the U.S.is on the the trailing edge of a historic financial hurricane that is about to make landfall. Most people don’t realize it, even worst is that most just want to ignore it.

Just remember what happened a few years back and it should send chills up your spine.

So is it all gloom and doom?  Of course not, as long as you know what coming and you get ahead of it you will flourish while those around you sink with the ship. This is your chance to get ahead of the curve by joining Whatliesinyourdebt.com today.  It's not a joke and I will always tell you what I feel is going to happen. It's up to you to make the educated choice.

Wait until the economy is falling apart, or start now. Take your time and learn so when it does hit the fan, you're ready! It's you choice!

And don't forget, you get a 100%, 60 day, money back guarantee so there is zero risk to at least give yourself a chance to see what it's all about. If you don't like it for any reason, simply request a refund in the first 60 days of your membership, and you will receive a full 100% refund.

Remember, it's all about attitude!

Jesse
Whatliesinyourdebt.com

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