21% of Americans have given up hope of ever being debt free (New Survey Data)
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New Survey Data from Data United LDS™ now being released to the public.

MIAMI - Floridant -- New survey data from Data United LDS™ shows an astounding percentage of Americans feel hopeless in the face of their debt. See all survey results link below. This is a big uptick for this data point since 2014.

Responding to the survey question, "Do you think you will ever be out of debt in your lifetime?" 21% of participants answered "Totally Given Up" from their list of 4 possible answers.

The answers allowed to the question "Do you think you will ever be out of debt in your lifetime?" were as follows:

1) Totally Given Up
2) Not Very Hopeful
3) Most Likely
4) Totally Confident

The last survey asking this question was in 2014 by Princeton Survey Research during their phone interviews where 18% of respondents answered they'd given up hope of paying off their debt.. See reference link at very bottom of this press release..

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From the survey results page by Data United LDS™:

"The saddest thing of all is the isolation debt can cause. Most feel ashamed. They're self esteem is often severely damaged, and most try to hide their shame from the world.

The worst part is, they hide their debt anxiety from those closest to them, the very people who could help them the most in their time of need."

- Catherine Dean

Sample Size Per State:

1500 – 2100 survey participants per state in Ohio, Pennsylvania, Florida, Texas, Washington and California. 1000 – 1500 survey participants per State in all other States.

According to another recent survey study by Money Geeks, there is more data proving how Americans are struggling with their debt more since 2010.

"Gen Z adults ages 18–24 and millennials ages 25–34 reported feeling most concerned about student debt — nearly 25% of Gen Z respondents and over 20% of millennials cited student loans as the financial factor in their lives that caused them the most stress.

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Debt analysis found that student loan debt doubled since the end of the Great Recession in 2010. Currently, the average American household has more than $58,000 in student loan debt — that's over $1.5 trillion owed across the country."

- Deb Gordon

The debt stress for American's has spiked due to Covid-19, which affected our data collected since March 2019. This is responsible for the 21% data point for people feeling hopeless of ever coming out of debt.

See full recent survey results in interactive displays here:
https://localdebtservices.com/stress-from-debt

Princeton Survey Research data point referenced above:
https://www.bizjournals.com/stlouis/blog/2014/12/18-of-americans-say-they-ll-never-get-out-of-debt.html

Media Contact
Catherine Dean
catherine.dean@localdebtservices.com
305 239 5618


Source: Data United LDS™

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1 Comment

  • Sharone:
    well that is a harsh new reality
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