From 24/7 Wall St. · Rich Duprey · · 1m
America's Debt Crisis Hits 2013 Milestone
US debt crisis hits 2013-level milestone as debt counseling volume surges.
In brief
US debt crisis hits 2013-level milestone as debt counseling volume surges. US debt crisis hits 2013-level milestone with $1 billion in debt counseling cases. Originally reported by 24/7 Wall St..
Debt Crisis Milestone
America's debt crisis hit a milestone not seen since 2013 as debt counseling volume surged.
Debt Counseling Volume
Money Management International managed over $1 billion in client debt through September, its highest level since 2013.
New Debt Plans
September added over 2,500 new debt-management plans, the most since March 2011.
Active Plans
Over 60,000 active debt plans, the most since 2017.
AI Referrals
ChatGPT referrals increased 48.8% year over year for debt counseling.
Debt Balance
Average unsecured debt balance for ChatGPT referrals is $42,500.
Debt Crisis Impact
19.6% of borrowing families fell behind payments in the past year, up from 12.2% in 2022.
What it means
US debt crisis hits 2013-level milestone with $1 billion in debt counseling cases.
