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approximately $1,052,000 on July 1st. This includes automobile loans, credit on purchases of other I consumer goods, personal loans and loans for home repair and modernization. Excluded are mortgage debt, charge accounts 1 and single payment loans. The amount of debt, it is noted, varies from family to family but bears a direct relationship to income, in most cases. Local buying habits and consumer attitudes are also factors.
In general, over $1 out of $7 of net income, after taxes, is going into repayments of these installment debts.
In Rappahannock County, it comes to approximately $65 per month per family, on average.
Are credit men worried? Not at all. They know that people are earning more than before and, therefore, can handle the bigger debt load.
91.3%