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Did you know the average American’s financial position is getting worse? Here are some facts from the following article.

• * 46.2% of all families now carry a credit card balance. up from 44.4% in 2001
• * $2200 in credit card debt on average
• * 13% average interest rate
• * $55 dollars per month Minimum payment
• * 14 years to pay it off
• * $1500 additional interest

Article

Source                                                                                          Date
Dobbs: Are you a casualty of the class war? CNN.com 10-4-2006
Foreclosures spiked in August CNNMoney.com 9-15-2006
Nightmare Mortgages

Business Week 9-11-2006
Reasons to Worry NY Times Magazine 6-11-2006
The American Way: Debt NY Times Magazine 6-11-2006
Have an extra half million to spare? USA Today 5-24-2006
Millions Are Facing Squeeze On Monthly House Payments realestatejournal.com 3-15-2006
Consumer debt loads at record USA Today 4-23-2006
Federal Reserve Releases New Statistics About Credit Cards Send2press Newswire 3-2-2006
Home loan delinquency rate shows increase USA Today 3-17-2006
Americans Have Negative Savings Rate CBS News 2-7-2006
U.S. savings rate hits lowest level since 1933 MSNBC 1-30-2006
Debt: How do you stack up? CNNMoney.com 10-7-2003