Americans struggle with debt at levels unseen since 2008

Summarised from 2 outlets · Updated 9 Oct, 18:25 · Archive

The ability of American families to meet debt payments has deteriorated to levels not seen since the 2008 financial crisis, the Federal Reserve reported.

The ability of U.S. families to stay current on their debts has worsened to levels not seen since the aftermath of the 2008 financial crisis, according to the Federal Reserve's Survey of Consumer Finances released Friday. Families were more likely to be behind on their financial obligations than at any point since 2010, the central bank stated.

Nearly 20% of families were behind on loan payments at the end of 2025, up from about 12% in the prior survey—a gain of some 67%. Those falling two months or more behind rose to over 8% from 5% in 2022. The share of families with payment-to-income ratios greater than 40% jumped to 8.6%, up from 6.5% in 2022 and the highest level since 2013. A separate New York Fed survey released earlier showed households reported their financial situations had worsened from a year ago and were likely to be weaker in the year ahead.

How it is being reported

• Americans’ debt soars near Great Recession levels, even as wealth levels rise: Fed dataAmericans’ debt has soared near levels not seen since the wake of the Great Recession – a cause for concern even as most families have seen their wealth increase and consumer spending has remained strong, according to federal data released Friday.New York Post · 9 Oct, 22:45
• Americans' debt problems are flashing a warning not seen since the Great RecessionResearchers found that while wealth disparities narrowed somewhat, the ability to meet debt payments deteriorated significantly.CNBC · 9 Oct, 15:03

In this story: Federal Reserve · United States

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