In Q2 2005 18.4% of Americans’ income went towards debt payments

The financial obligations rate (which measures minimum required debt payments as a percentage of disposable income) rose to 18.4% in Q2 2005. This is near the record of 18.8% in late 2001. Credit card debt per household reached a record $9312 in 2004. That’s up 116% over the past 10 years. Average APR for September 2005 rose to 11.84%, compared to 11.56% in August 2005.