Americans' debt problems are flashing a warning not seen since the Great Recession

The ability of U.S. families to stay current on their debts worsened over the past three years, hitting levels not seen since the aftermath of the global financial crisis, the Federal Reserve reported Friday. In the central bank's Survey of Consumer Finances, researchers found that while wealth disparities narrowed somewhat, the ability to meet debt payments deteriorated significantly. "Families were more likely to be behind on their financial obligations than at any point since the 2010 survey," stated the survey, a data-rich document the Fed releases every three years to chronicle the nation's financial health. The nation in 2010 was just emerging from what became known as the Great Recession, a period that ran from December 2007 to June 2009.