Consumer debt rises to all-time high
Updated: Thursday, January 10 2013, 07:50 PM EST
(NEWSCHANNEL 3) - Consumer debt rose to an all-time high in November, as Americans borrowed more money.
That money was used mainly to buy cars and attend college.
The Federal Reserve says consumers increased their borrowing $16 billion in November, compared with October.
Total borrowing rose to a record $2.77 trillion.