Rising household debt in 2020 could have snowball effect
Now, nearly 9 months into the pandemic-caused recession, many have dug themselves into a much deeper financial hole.
By Alan Goforth|November 16, 2020 at 03:42 PM
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Household debt has soared to record highs during the COVID-19 pandemic, according to a recent survey from Clever Research.
At the end of the second quarter, U.S. households held more than $4.1 million in non-mortgage debt in the form of student loans (35 percent), auto loans (29 percent), credit cards (19 percent) and other loan types (20 percent).
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