Americans have the highest increase of household debt in 18 years.
Have you seen an increase in your household debt? More bills in the mail and less checks going out for payment? You are not alone.
Household debt grew at the fastest rate since 1987, the Federal Reserve said. The brighter side of this is that the net wealth of American households rose in the third quarter of 2005 as real estate and financial assets gained value.
Household debt grew at an annual rate of 11.6 percent, the steepest climb since the second quarter of 1987, when it rose 12.2 percent, the Federal Reserve said. Household real estate assets grew by $615 billion in the third quarter, while financial assets rose by $959.3 billion.
It is possible that you have some assets elsewhere. Millions of dollars are being held by federal and state agencies. The tax return you don’t recall getting, the long lost relative who left you a little something and forgot to tell you, or perhaps there is an unclaimed deposit from a move you made. To find out if you have unclaimed money or property, you can go to CashUnclaimed.com. This company was founded to assist owners in easily locating and claiming their lost funds. The site has a database that includes all state and federal databases for a comprehensive search.
