Total debt

Total debt in all accounts in the CCP, including auto debt, mortgage debt, credit card debt, home equity line of credit (HELOC) debt, student loan debt, retail financing (i.e., credit cards for use at specific retailers), general consumer finance, and debt classified as “other.”

Auto debt

Debt from auto loans from monoline automobile finance companies as well as lenders that provide a wider range of consumer financial products, such as a bank or credit union.

Credit card debt

Debt from general-purpose credit cards; excludes both debit cards and credit cards for use at specific retailers.

Home equity line of credit (HELOC) debt

Debt from revolving home equity.

Mortgage debt

Debt from first- and junior-lien mortgages and home equity installment loans.

Student loan debt

Debt from student loans originated by the federal government and private lenders.

Collections

Consumer debt collections not handled by the original creditor and adverse public records, such as tax liens and debt judgments.

Consumers

Refers to the full sample of individuals with a Social Security number and credit file included in the CCP. Please note that the existence of a credit file does not necessarily imply active consumer credit use. Further, roughly 8 percent of U.S. households do not have a member with a credit report and are, therefore, not included as consumers in the CCP data set (see Lee and van der Klaauw, 2010). This share — and, accordingly, CCP coverage — may vary regionally and even within the same region by certain household characteristics, such as income.

Borrowers

Refers to consumers with outstanding debt in at least one trade line.

United States

Refers to consumers living in any of the 50 states and Washington, D.C. Does not include residents of Puerto Rico or other U.S. territories.

Metropolitan statistical area (MSA)

Refers to counties clustered around an urban core or cores that have strong economic interrelationships. The Consumer Credit Explorer uses the 2020 MSA definitions as outlined by the Office of Management and Budget. See OMB Bulletin No. 20-01 for details.

Nonmetropolitan statistical area (Non-MSA)

Refers to counties within a given state that are not part of an MSA. Includes counties that are part of micropolitan statistical areas.

Low- and moderate-income (LMI)

Refers to consumers residing in census tracts in which the median family income (MFI) is less than 80 percent of the MFI in the associated MSA or non-MSA counties in the state. For MSAs that are subdivided into metropolitan divisions, tract MFI was compared with the MFI of its associated metropolitan division. These income categories are produced using the FFIEC’s 2022 Census Flat File, which primarily draws from the 2016-2020 American Community Survey. For additional detail on income calculations, see the associated FFIEC documentation.

Middle- and upper-income (MUI)

Refers to consumers residing in census tracts in which the MFI is greater than or equal to 80 percent of the MFI in the associated MSA or non-MSA counties in the state. For MSAs that are subdivided into metropolitan divisions, tract MFI was compared with the MFI of its associated metropolitan division. These income categories are produced using the FFIEC’s 2022 Census Flat File, which primarily draws from the 2016–2020 American Community Survey.

Majority non-Hispanic White

Refers to consumers residing in census tracts in which >50 percent of residents identify their race as White alone and their ethnicity as non-Hispanic. Majority race/ethnicity categories are produced using the FFIEC’s 2022 Census Flat File, which primarily draws from the 2016–2020 American Community Survey.

Majority People of Color

Refers to consumers residing in census tracts in which >50 percent of residents identify their race as anything other than White alone or their ethnicity as Hispanic or Latino. Majority race/ethnicity categories are produced using the FFIEC’s 2022 Census Flat File, which primarily draws from the 2016–2020 American Community Survey.

Majority Asian or Pacific Islander

Refers to consumers residing in census tracts in which >50 percent of residents identify their race as Asian alone, Native Hawaiian or other Pacific Islander alone, Asian in combination with another race, or Native Hawaiian or other Pacific Islander in combination with another race (including both Hispanic and non-Hispanic residents). Majority race/ethnicity categories are produced using the FFIEC’s 2022 Census Flat File, which primarily draws from the 2016–2020 American Community Survey. The available variables for multiracial Asian and Native Hawaiian or other Pacific Islander residents include Asian and White and Native Hawaiian or other Pacific Islander and White.

Majority Black

Refers to consumers residing in census tracts in which >50 percent of residents identify their race as Black alone or Black in combination with another race (including both Hispanic and non-Hispanic residents). Majority race/ethnicity categories are produced using the FFIEC’s 2022 Census Flat File, which primarily draws from the 2016–2020 American Community Survey. The available variables for multiracial Black residents include Black and White and Black and American Indian or Alaska Native.

Majority Hispanic or Latino

Refers to consumers residing in census tracts in which >50 percent of residents identify their ethnicity as Hispanic or Latino. Since Hispanic or Latino identity is considered an ethnicity, this category is not exclusive with other majority race categories (e.g., a tract can be both majority Black and majority Hispanic or Latino). Majority race/ethnicity categories are produced using the FFIEC’s 2022 Census Flat File, which primarily draws from the 2016–2020 American Community Survey.

Majority Native American

Refers to consumers residing in census tracts in which >50 percent of residents identify their race as American Indian or Alaska Native alone or American Indian or Alaska Native in combination with another race (including both Hispanic and non-Hispanic residents). Majority race/ethnicity categories are produced using the FFIEC’s 2022 Census Flat File, which primarily draws from the 2016–2020 American Community Survey. The available variables for multiracial American Indian or Alaska Native residents include American Indian or Alaska Native and White and American Indian or Alaska Native and Black.

Nonprime

Refers to consumers with an Equifax Risk Score (i.e., an Equifax-calculated credit score) less than 660. The Equifax Risk Score ranges from 280 to 850, with a lower score indicating a higher risk of future delinquency. Does not include consumers who are unscored.

Prime

Refers to consumers with an Equifax Risk Score greater than or equal to 660.

Age groups

Borrower age is calculated based on the birth year included in an individual’s credit file. Consumers younger than 18 years or older than 84 years are excluded from these estimates. Each year, some portion of consumers in the two youngest groups age into an older category and some members of the older group age out of these estimates.