How many Americans are in debt, approximately?
There is no information on how many americans are in debt, but Americans collectively owe $2.5 trillion in consumer debt – excluding their mortgages. There is another $14 trillion in home loans.
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About Debt
Debt is an obligation to pay someone back, either in money or other goods. Before the recession of 2008 and the financial meltdown, many people and corporations took on so much debt that their houses were foreclosed and their companies failed or had to be sustained by the government until they got back on their feet. (An example is General Motors.)
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