MIAMI—Americans carry significant amounts of debt. Today, consumers collectively owe over $1.2 trillion in credit card debt, nearly $1.7 trillion in auto loan debt, and several hundred billion dollars in personal loan debt, WalletHub reported.
“What's even more concerning than the overall debt amount is the rapid rate at which it's growing. For instance, our national auto loan debt has surged from about $1.3 trillion to nearly $1.7 trillion since 2014, marking a nearly 29% increase in just ten years,” WalletHub said.
However, some states are experiencing a much faster rise in consumer debt than others. To highlight the states with the largest increases, WalletHub analyzed data on consumer debt from Q3 2024 to Q4 2024.
See the list below.