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mpre than this and others owe little or nothing.
For the local population as a whole, installment debt totaled approximately $1,570,000 at the end of the fiscal year, it is estimated.
This takes into account loans for automobile purchases, credit for the purchase of other consumer goods, personal loans and loans for home repair and modernization. Not included are mortgage debt, charge accounts and single payment loans.
According to the national studies, made by the Federal Reserve Board, the University of Michigan’s Survey Research Center and others, among all families that have installment debt, the average amount owed is $1,540 per family.
It adds up to $98.7 billion nationally, as compared with $93.1 billion the year before.
Thus, of every $6 of income that Americans have left after paying their taxes, about $1 must go to pay their installment debt.
In Rappahannock County, it amounts to $110 per month per family, on average. L—-...
81.9%