Overdue bills rising with US debt delinquencies

Big numbers: Homes under construction at the Grove housing development project in Napa, California. Homeowners in the United States have about US$580bil in outstanding home equity credit available, the most in about 15 years. — Bloomberg

NEW YORK: US household debt has reached a record and more borrowers are struggling to keep up.

Overall US household debt rose to US$17.7 trillion, according to the Federal Reserve (Fed) Bank of New York’s Quarterly Report on Household Debt and Credit.