OK Econogeeks and non-econogeeks, this is interesting news. One third of us have debt in collections, but the details on debt are fascinating and relevant to those of us who watch markets as well as careerists.
- Consumer Debt isn’t easily distributed.
- Mortgage debt is a huge part of debt – and isn’t evenly distributed.
- Non-mortgage debt IS more evenly distributed.
- Debt can correlate with income – but collection debt is also correlated with lower income.
Lots of useful information here!
Steven Savage is a Geek 2.0 writer, speaker, blogger, and job coach. He blogs on careers at http://www.musehack.com/, publishes books on career and culture at http://www.informotron.com/, and does a site of creative tools at http://www.seventhsanctum.com/. He can be reached at https://www.stevensavage.com/.