Many Americans Concerned About Their Debt

One in three Americans is losing sleep over their debt, according to a survey by Mr. Cooper, a non-bank mortgage servicer and lender. Even though 68 percent of those with credit card debt are concerned about how they will pay it off, very few have plans in place to get rid of it. More than two-thirds said that it would take them more than six months to pay off existing credit card debt, and 8 percent said they would never be able to pay their debts off. Almost 20 percent were not aware of the interest rate on their credit card, and 77 percent carry a balance from month to month instead of paying their bill in full.

CNBC.com (07/11/18) Carmen Reinicke

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