80% of Americans are in debt
Many Americans have credit card debt because they supplement their purchasing with credit cards due to a lack of adequate income. Some Americans have credit card debt because they are addicted to shopping or because they are not making enough money to pay their bills.
Your debt is then written off as the car covers the cost of the debt.
There are almost twenty million Americans that attend college. Sixty percent of this number borrow loans to finance their studies and therefore struggle with a college student loan debt.
17%
If the debt is on the car, or the car was used as collateral for the loan, YES they can repossess the vehicle!
With 43 percent of Americans spend more money a year than what they make, and another 90 percent of Americans not even using a monthly budget it is obvious there are very few Americans that are debt free. Currently 24 percent of American are debt free.
It worried many Americans because they were scared that the country that they had just fought so hard for was falling apart once again because of debt and taxes
I would guess about 10 percent.
Sharecropping
So many Americans find themselves battling bounds of debt. The feeling of being in debt can truly be a drag. People may have well-established careers, but they still find themselves trudging through debt on a daily basis. To get out of debt, taking on an internet job can be the solution. Slowly, a person can get out of debt with an internet job. By working online and making just $10 a day, a person can find that he or she can pay off a credit card in a month. By making $10 a day for a month, one will accumulate about $300. So many Americans could use the extra income to lower the minimum monthly payments they have on various credit cards. Internet jobs open up smart financial possibilities for Americans in debt.
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