American debt increased to record levels, with Georgia households owing $135,674 on average

GEORGIA — A recent study from WalletHub said Americans are racking up debt at record levels.

The total U.S. household debt increased to $17.9 trillion in the third quarter of 2024, an $83 billion increase.

In the third quarter of 2023, WalletHub said the debt level was 4% lower.

Per household, the average debt across the United States was a bit more than $149,000 and in Georgia, the average was $135,674.

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Year-over-year for the third quarter, WalletHub said the average Georgia household debt rose $577, making it the 25th largest debt increase in the United States.

For the Peach State, the total debt so far in 2024 was $490,676,097,460. That’s a $2.27 billion increase compared to the previous Q3 level of debt.

As previously reported by Channel 2 Action News, the debt Georgians are facing includes what they owe for medical costs, student loans and credit card payments, among others.

A recent study, also by WalletHub, said Georgia was the sixth most financially distressed state in the union.

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