A University of Michigan study found that more than half of low-income families with high consumer debts and low net worth in 1994 were still broke in 1999; in fact, their average indebtedness grew from $2,900 to $18,500.
Categories:
Debt,Ratios
Reporting Pub:
Newsweek
Reporting Date:
8/27/2001
Article
Title:
Maxed Out
Article
Author:
Daniel McGinn
Pub's Source:
Federal Reserve Board
Source
URL:
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