Here’s a good video clip discussing the fiscal cliff we are now facing and the lingering issue of consumer debt.
At the 2:00 minute mark, the focus turns to the ever-growing consumer debts. There is a high amount of consumer debt that has a long way to go before our economy can truly recover. While they point out that credit card debt has fallen, consumer debt overall is at the highest point it has ever been. So while we should be concerned with this fiscal cliff we are facing, we should not lose sight of the fact that the even bigger problem, consumer debt, still lingers. Rather than being a part of the problem, we encourage you to be part of the solution. The time is now to address your debt issues so that you are leveraged to rebound when our economy finally does. If you have high consumer debt, such as credit card debt, second mortgages, etc., you should take a look at your options with an experienced professional to determine what can be done to help you get relief from these debts.