Statistic |
Data |
Total Consumer Debt in the US |
$14.64 trillion |
Percentage of Americans in Debt |
80% |
Average Credit Card Debt per Household |
$5,315 |
These statistics paint a clear picture of the widespread issue of consumer debt in the US. With so many individuals struggling to make ends meet, the Level 3 Award in Dealing with Consumer Debtors in Financial Hardship is more important than ever.
By completing this award, professionals can gain the skills and knowledge needed to assist consumers in managing their debt, creating realistic repayment plans, and ultimately achieving financial freedom. This not only benefits the debtors themselves but also contributes to a healthier economy overall.
In conclusion, the Level 3 Award in Dealing with Consumer Debtors in Financial Hardship is a valuable tool for those looking to make a positive impact in the world of finance. By arming themselves with the necessary expertise, professionals can help individuals overcome financial hardship and pave the way to a brighter financial future.
Source of data: Federal Reserve, CreditCards.com, CNBC.