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Consumer Debt Hits Record High

by | Apr 4, 2023 | Bankruptcy, Chapter 7, collections

A recent article noted that consumer credit card debt has spiked in the last two years, going from near all time lows to all time highs. Most people believe that this is due to the end of the pandemic stimulus payments, combined with inflationary pressures that have caused people to put basic needs on their credit cards, which are often on variable rates that have also spiked in the last year.

If you find that your debt load is taking a larger and larger chunk of your paycheck, a free consultation with your friendly local bankruptcy attorney may be in order. You can call, or schedule a free consultation on my website.