According to statistics compiled by the Federal Reserve and analyzed by the financial website NerdWallet.com, the average indebted American household is currently struggling under the weight of $15,593 of credit card debt on average. As of this month, the average American household is also strained under the weight of more than $153,000 in mortgage debt and more than $32,000 in student loan debt. The pressing nature of mortgage debt and student loan debt can make it even more difficult for individuals to pay off their credit card bills with any sense of urgency.
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