Personal debt rises as Americans take out more fixed-payment loans.
Americans' personal debt jumped to a more-than-expected $2.6 trillion in April, according to a report from the Federal Reserve released Friday.
The total debt held by individuals rose $8.9 billion from the prior month. Analysts polled by Briefing.com had expected personal debt to increase by only $7 billion.
The category of debt that includes credit cards, referred to as "revolving credit," rose by a mere $300 million, while the category that includes fixed-payment loans, such as student and car loans, jumped $8.7 billion.
The government report excludes mortgages and home equity loans.
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