Why are people in so much credit card debt?

Answer People are in credit card debt for a variety of reasons. Once credit card debt builds up it becomes very difficult to pay off. Some people contact consumer credit counseling as way to receive debt ... Read More »

Top Q&A For: Why are people in so much credit card debt

How many people default on credit card debt yearly?

There is about $905.6 billion in outstanding credit card debt, according to data released in July 2009 by the Federal Reserve. Delinquencies longer than 30 days account for 5.5 percent of all credi... Read More »

How many people in America have credit card debt?

The Federal Reserve Survey of Consumer Finances specified that 46.2 percent of Americans have credit card debt, about 1.4 million people. This government survey, released in February 2009, is updat... Read More »

How many people are sued over credit card debt yearly?

At least 4.5 million debt collection lawsuits were filed in the United States in 2008. That figure is an average since not all states keep this statistic.SourceBoston Globe

Is $9000 too much in credit card debt?

On One Hand: Not if You Take Home More Than $45,000.According to the Credit Union National Association, your debt should not exceed more than 20 percent of your take-home income. If you bring home ... Read More »