Recently, I blogged about the uptick in credit card debt among seniors. Sadly, the uptick isn’t limited to seniors. As the article below describes, young people are racking up far more credit card debt than their parents ever did, a new study shows, and economic experts are worrying that Generation Y — people born in the early 1980s — will end up dying without ever paying off their credit card bills. I cannot fathom a sadder prospect. People going thru their entire life with burdensome credit card debt yoked to the big banks from nearly cradle to grave.
Don’t let it happen to you, or your parents, or your kids. Educate yourself and your family about all the negatives of carrying high interest credit card balances. If you or someone in your family is burdened by credit card debt, seek out a reputable attorney who focuses on debt settlement, the process of negotiating for large reductions in your credit card debt without bankruptcy.