Journalists continue to ignore the $700,000 debt burden placed on every man, woman and child by our Federal Government. But PERSONAL debt of $16,500? Now that's news!
August 13, 2012
How big debt is threatening security clearances for thousands of troops
By Bill Briggs, NBC News contributor
Nearly 36,000 active-military members who hold security clearances have recently sought urgent financial advice or aid because heavy debts and delinquent bills threatened to void their classified status, according to a nonprofit that helps troops and veterans solve money problems.
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.Based on the financial counseling sessions provided by VeteransPlus, statistics show that service members and veterans who approach the nonprofit have an average debt-to-income ratio of 46.5 percent, Pickens said. According to “The Ultimate Credit Handbook,” by Gerri Detweiler, a debt load of 36 percent or less is healthy for most people to carry, but a ratio of 43 percent to 49 percent means that dire financial difficulties are probably imminent unless immediate action is taken.
The nonprofit’s counselors also see an average unsecured debt (such as credit cards) of $9,700 and an average secured debt (such as a home) of $16,500.
More: http://usnews.nbcnews.com/_news/2012/08/13/13221657-how-big-debt-is-threatening-security-clearances-for-thousands-of-troops?lite
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