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US families are behind on bills at rate not seen since Great Recession of 2008

The last time Americans were so behind on bills was during the 2008 Great Recession when the unemployment rate was double what it is now

American families are falling behind on their bills at a rate not seen since the Great Recession, according to new federal data.

One in five households are behind on a loan payment, reported the Federal Reserve in its three-year survey of 4,367 U.S. families.

“Between the 2022 and 2025 surveys, the share of families that reported being behind on loan payments sharply increased from about 12 percent to almost 20 percent,” the report said.

The median debt per household – which includes credit cards, student loans, mortgages and other lending types – rose from $170,200 in 2022 to $183,600 in 2025, the report noted.

The number of families at least two months late on a bill has increased 60 percent in the past three years, according to the report.

h/t deepserket

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