According to a recent study, the average total household debt in America is just over $132,500, broken down as per the chart below...... and thanks to the Fed's recent and ongoing rate increases, the repayment of said debt will become increasingly more difficult. So difficult, in fact, that most Americans will be saddled with a sizable chunk of it at the time of their death.
Actually, most already are.
According to December 2016 data from credit bureau Experian provided to credit.com, 73% of American consumers had outstanding debt when they were reported as dead. Those consumers carried an average total balance of $61,554, including mortgage debt.Without home loans, the average balance was $12,875.