According to information from the United States Census Bureau, the credit agency TransUnion and the Federal Reserve, people in Maryland and the rest of the country repaid $40.3 billion of credit card debt during the first three months of 2018. The amount represents the second-highest payoff amount in a single quarter since the $44 billion that was paid off in the first quarter of 2009.
However, the debts are not getting much smaller. By the end of 2017, United States residents had new credit card debt that totaled $91.6 billion, an amount that is reported to be the largest annual total since 2007 and 104 percent more than the post-recession average. The amount of unpaid credit card debt is at its second-highest point since closing of 2008.