Well, that’s everyone. I blogged recently about the alarming debt levels found among seniors and young people. Now, it’s a study showing baby boomers are running up their credit cards as well.
It’s bad news, no way to sugar coat it. No matter what one might read in the paper or see on the news, the fact is that Americans of every age are not making ends meet and, as a result, are using credit card debt to bridge the gap. The solution is short-term and very expensive. If you or someone in your family is now struggling to keep up with the debt that was created just to survive, encourage them to contact a lawyer who focuses on negotiating for large reductions in debt so the family can get back on track.