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Consumers Continue to Deleverage

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Looking back at the first half of 2012, it appears that consumers are continuing to deleverage, paying down credit card debt.  The follow article takes a look at where we sit with consumer debt at the halfway mark of the year.

http://www.marketwatch.com/story/billscom-consumer-debt-decreases-146-to-12986-in-first-half-of-2012-2012-07-24 

What I find interesting is that even with this trend, collection accounts continue to rise.  This seems to be a pretty good indication that there are still folks out there needing relief from their credit card debts.  Rather than do nothing, you need a plan if you have accounts in collection.  Delay can only lead to more problems as your debt ages, with the threat of being sued increasing as the debt goes unpaid.  If you have accounts in collection, we suggest that you speak with an attorney to see if you can avoid getting sued and having judgment entered against you. You may qualify for one of many debt relief options and a good attorney will provide you with an honest opinion on what you should do to resolve your debts.

Consumers Continue to Deleverage was last modified: September 11th, 2015 by Kevin Fallon McCarthy
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Kevin Fallon McCarthy is the McCarthy Law PLC’s managing attorney and an experienced Phoenix debt attorney. Mr. McCarthy has also worked as general counsel for a large corporation. He has corporate counsel experience in human resource matters, general corporate governance, and union class action litigation.
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