Experian report shows sharp increase in consumer debt

An Experian study released today has found that consumer debt has increased 12% over the last two years. In 2004, consumers reported carrying an average $10,371 balance of non-mortgage debts. In 2006, this amount increased to $11,669.  At the same time the average number of late payments also increased 20%.

Does this report match your financial situation? Are you carrying more debt than you were last year? Do you think these negative debt figures will continue to grow in the coming years? Share your feedback in the comments section below.