their not behind because they pay the minimum payment. they don't reduce the amount they owe but pay the interest they owe off. the minimum payment is usually 5 per cent. as long as you pay that you will not be in arrears and your credit rating will not be affected. you have to understand that when they say the number of people owing that is not just home owners. so people that don't own a home, renters, students, some pensioners (although less likely) will have card debt but no mortgage. also it could be $8-9,000 per person including children. i don't know how they have calculated it. i used to work in credit cards and a lot of people owe lots of money. we were just one card provider they could have had more than one provider.
Very true. As for our national CC debt, if the avg. per household in the US is around 9K, multiply that times 115 Million, (last # checked was a bit over 111 Million back in 2007) which equals $103,500,000,000.oo Or, 103 Billion, 500 Million USD. ( I'm HORRIBLE at math)