According to a new report from Credit Suisse, people who have had their credit scores downgraded because of debt problems could be liable for a total of up to $10 billion of debt in the next three years.
“The average American who is struggling with a bad credit score has been left with a $2.5 trillion hole in their personal finances, and if they’re not able to pay back their debt, they could face the possibility of having a negative credit score for decades,” said Dan Stedman, Credit Suise’s chief economist.
“We expect this to be a significant burden for the consumer in the years ahead.”
The report states that people who are “on the lookout for work and are in debt” could be at risk of being “subject to a higher credit risk for the foreseeable future.”
Stedmacher said that while it is unlikely that a large number of people will be exposed to the full $10 trillion in liabilities, a large percentage of the people with the highest credit scores could end up being liable.
For the most part, the study found that people with high credit scores had “significantly lower credit risk than the average American.”
The average credit score is based on factors such as a person’s income, age, marital status, and job title.
The average annual income for the typical household is about $50,000.
The median household income is about half that.
The report also found that the average consumer with a credit score of 640 or higher had a debt of $11,000, while the average credit scores of 640 to 940 had debt of just $3,000 each.
According to Credit Suse, there are a lot of factors that go into a persons credit score, including how well the consumer is making payments on credit cards, student loans, mortgages, and other types of debt.
However, the report found that credit scores that are above 640 for a particular credit category are more likely to be high risk because they tend to show more of the “good credit,” meaning that the person is able to afford more of their debt.
Credit Suzeas research also found the following: The average household with a negative score is $3.3 million in debt compared to $1.8 million for the average household without a negative debt score.
The debt load for people with a positive credit score increases by about $3 million a year compared to the average debt for people without a positive score.
A person with a high credit score also has a much higher chance of having negative credit scores.
For every credit score above 640, there is a 30 percent chance that the consumer would have a negative impact on their credit score in the future.
The study also found there were significant variations in the types of credit scores people had.
Some people had high credit risk, while others had moderate or low risk.
People with high risk scores were more likely than those with moderate or lower risk scores to have high debt loads, the findings showed.
Some consumers also had higher risk scores than others, the research found.
For example, people with an average credit of 640 had an average debt load of $8,400 compared to an average of $4,200 for those with a lower credit score.