A new study from Northwestern Mutual has found that many Americans are sinking in debt, and don't expect to climb out of it any time soon; the study found that more than one in 10 Americans say they will be in debt for the rest of their lives. The reality, however, may be bleaker.
For its 2018 Planning and Progress Study, Northwestern Mutual surveyed 2,003 U.S. adults, revealing just how far deep in debt Americans are. Northwestern Mutual found that 13 percent say they will be in debt the rest of their lives.
But looking at a 2017 study from Experian and Credit.com, 73 percent of consumers had outstanding debt when they were reported deceased.