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Is Your Credit Card Debt Average?

These days credit card debt is a way of life for too may people.  How does your situation compare to others?  Are you better off or worse than the average American?  As this article in Dailyfinance.com points out, numbers can be subjective.  It points out that for those with a social security number and are over a certain age, the number fall between $5,000-$7,000.  This article gives the details of the statistics along with the source.

Read more here:  http://www.dailyfinance.com/2014/06/11/is-your-credit-card-debt-average/

In addition to providing these statistics, this article also points out how to pay off your credit card debt.  For some, these tips might be useful if you are on the low end of average.  For those that are faced with $10,000 or more in credit card debt, the task seems substantially more difficult.  In addition to a mountain of debt, many are also faced with job loss.  If you are unable to keep up with your minimum monthly payments, it may be time to consult with an attorney.  A qualified debt settlement attorney can negotiate for reductions in the total amount that you owe on your credit cards, without the need for bankruptcy.

Author:  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.