In recent years, Americans have cut back on several other types of borrowing such as credit card use, with average household indebtedness falling from $105,297 in 2007 to $100,720 in 2010. Broken down by income levels, however, average total indebtedness for the bottom 20 percent of households by income actually rose from $17,579 in 2007 to $26,779; for the higher income groups, average indebtedness either was unchanged or declined.
Pew Social & Demographic Trends: http://pewsocialtrends.org/
Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.