Americans Die Thousands Of Dollars In Debt
March 25, 2017
95,197
2,471
743
3.38%
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8:21Now PlayingAmericans Die Thousands Of Dollars In Debt
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as posted by the channelCapitalism isn’t working for most Americans, but it’s working very well for a few. Cenk Uygur and Ana Kasparian, hosts of The Young Turks, discuss. Tell us what you think in the comment section below.
"As they go to their graves, Americans are leaving their families a legacy of debt. More than 70 percent of consumers have some debt at the time of their death, according to data from credit bureau Experian released this week.
And it's not just a little bit of debt. It's a lot. The average total balance is $61,554. With home loans taken out of the equation, the average debt was still $12,875.
Of those who had debt when they died, about 70 percent still carried credit card balances. Consumers also had loans for cars, college tuition and other expenses. The average student loan debt still outstanding, for example, was $25,391.
The debt isn't forgiven when someone dies. In some cases, their relatives get the bill.
“Debt belongs to the deceased person or that person’s estate,” Darra L. Rayndon, an estate planning attorney with Clark Hill in Scottsdale, Arizona, told Market Watch.”*
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Hosts: Cenk Uygur, Ana Kasparian
Cast: Cenk Uygur, Ana Kasparian
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