A new analysis by ConsumerAffairs has found that the average American carries a significant amount of debt. The average debt is $63,000, while the average annual earnings are $45,000. 40 is owed.

The analysis also examined payment habits and found that many families have little financial cushion in case of unexpected expenses. Further details on the analysis and its findings are available from ConsumerAffairs. The full report provides more information on the financial strain faced by many Americans, including the risks of default, credit score damage, and foreclosure.

For more information, readers can refer to the original report from ConsumerAffairs.