I am having financial problems paying off credit debt. I can't find any data on the rest of America but was interested in this is a common problem. There must be others.
2007-12-07 10:38:21 · 2 answers · asked by MARIE S 4 in Business & Finance ➔ Credit
In October the amount of individual revolving debt (like credit cards) NOT Including mortgages & asset backed loans (cars, businesses) was $920.1 BILLION dollars (this is from the government report that comes out monthly, it is called the M2 report I believe).
With population of 300 million people, that is $3067 for every man, woman AND child in America.
As the poor, illegals and children can't get credit and the richest don't need credit, that means that most of us are carrying large amounts of debt.
Nice situation isn't it.
2007-12-07 11:14:50 · answer #1 · answered by Gem 7 · 0⤊ 0⤋
There are millions of people that are having credit problems! As a credit counselor, I see hundreds of new clients everyday. To learn more about your credit and get good advice about budgeting, check out www.acdcas.com. It DOES NOT offer debt consolidation, which I would NEVER recommend, but will teach better ways to budget your money and get ahead in the credit rat race. It does cost a fee but is recognized by the Dept of Justice as a credit counseling site. Good Luck!
2007-12-07 18:47:22 · answer #2 · answered by jjungema 2 · 1⤊ 0⤋