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Link to original content: http://www.statista.com/statistics/944961/personal-debt-duration-usa/
U.S. consumer expectation of debt duration 2023 | Statista

Time consumers expect to remain in non-mortgage debt in the U.S. 2021-2023

Published by
Fernando de Querol Cumbrera,
Jul 21, 2023
In 2022, around 43 percent of Americans said that they expected to be in debt for another one to five years, whereas 12 percent expected to remain in debt for the rest of their lives. There is also an important share of respondents who did not know how long they would continue to pay their debt. The average amount of personal debt held in the U.S. has been decreasing since 2018.

Number of years consumers expect to remain in non-mortgage debt in the United States from 2021 to 2023

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Sources

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Release date

July 2023

Region

United States

Survey time period

2021 to 2023

Number of respondents

1,776 respondents

Age group

18 years and older

Special properties

respondents with some debt

Method of interview

Online survey

Supplementary notes

This question was phrased by the source as follows: "How many more years do you expect to be in debt?"

The figures were obtained from several editions of the same annual survey. The date and number of respondents of each survey are as follows:

  • 2021: March 16th to 26th;1,543
  • 2022: February 8th to 17th; 1,581
  • 2023: February 17th to March 2nd; 1,776

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Overview

5

Overall consumer lending

4

Mortgage debt

4

Car loan debt

4

Credit card debt

5

Student loan debt

4

Buy now, pay later (BNPL)

3

Loan delinquency

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Personal debt in the U.S.National debt of the U.S.Credit cards in the United StatesMedical debt in the U.S.Public debt in Latin America
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