Credit card debt owed by American consumers hit an all-time high of 1.02 trillion dollars in November of 2017. Total household debt, which also includes car loans, mortgages, and student loans, rose to about 13 trillion dollars in 2017.
The average American household owes about $ 8,600 on credit cards, and the delinquency rate is rising. Some experts believe that consumers are using their credit cards to make up for insufficient income, which has stagnated over the last 40 years.
The Law Offices Of Todd S. Frankenthal helps consumers with debt problems in Miami, Fort Lauderdale, Boca Raton, West Palm Beach, and Fort Pierce. Contact the Law Offices Of Todd S. Frankenthal to discuss bankruptcy and other solutions to rising debt.