Although almost anyone would agree that being in debt is never a good idea, more and more Americans don’t seem have to a problem with being in the red. Debt can be a very difficult situation to be in and the effects of debt can lead to all kinds of problems, including foreclosure and bankruptcy. However, despite those risks, debt numbers across the U.S., including in Tampa, continue to rise.
According to new statistics from the Federal Reserve Bank of New York the country’s overall debt numbers are now at their highest level since 2011. Consumer debt is at $11.52 trillion and the number continues to rise, according to the Federal Reserve. Over the last three months of 2013, consumer debt jumped $241 billion dollars, which is a 2.1 percent increase. That represents the biggest jump in consumer debt since the third quarter of 2007.