Debt Consolidation

Debt Burden Affects All Ages

On average, American households possess four credit cards, or a total of 13 payment cards if debit cards and store cards are included. There are, actually, 1.3 billion payment cards of assorted types in circulation in the United States.

Statistics show that the average credit card debt for each household in the U.S. is $4,800 per month. Also, there were 1.3 million credit card holders declaring bankruptcy in the year 2003.

The debt burden affects the young, the middle-aged and the elderly. Young people struggle to pay off student loans and earn enough to get themselves established on the housing ladder. Middle-aged people borrow to buy houses, cars and an ever-growing array of consumers goods. And retirees, having bought on credit for many years, find that they can only expect to receive about 37% percent of their annual retirement income because of prior debt payment. This will leave many individuals depending on the government, family and charity for economic survival.

These are some scary facts. So before you find yourself in a position of economic uncertainty, it might be wise to evaluate your spending and current credit card debt. If your credit card debt exceeds what seems to be a reasonable level, you may want to consider credit card debt consolidation.

Can't pay the bills anymore? Get non-profit, 100% online debt relief.
Click here for more info

Webmasters: this website is hosted by BlueHost, web hosting for professionals, around the world.