According to December 2016 data from credit bureau Experian provided to credit.com, 73% of American consumers had outstanding debt when they were reported as dead. Those consumers carried an average total balance of $61,554, including mortgage debt. Without home loans, the average balance was $12,875.
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What's the implication of this? Eventually banks and other lenders will own everything in the country.
The economic hit men should be happy ... another once proud nation has been humbled and subdued.