How are Borrowers (Consumers) Doing?

With July comes the end of a quarter, and lots of data. It's a good time to check on how we're doing as borrowers and consumers after the financial crisis. Debt was a major problem back then -- has anything changed?

Planet Money highlights recent reports showing loan payments and debt levels for consumers. Both have come down, meaning:

• We spend less of our income on debt repayment
• We owe less overall (relative to income)

This is good news if it helps us avoid another global financial crisis (not to mention the personal financial crises that many have experienced). However, this is just data, and it may not translate into a stronger economy or more confident consumers.

What about you? Do you have less debt to deal with than you did a few years ago? Tell us about it in the comments.

Further reading:

• How Debt to Income Ratios Work