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Households Cut Debt Despite Added Burdens

Friday, May 3, 2013 - 8:24 AM
The FRBNY reports that Americans have cut 11.3% of their household debtsince 2008, with mortgage-related debt accounting for 76% of all U.S. consumer debt, with credit cards, auto loans and student loans making up most of the rest. The study reports that personal bankruptcies and mortgage delinquencies are down significantly over the past four years.

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