DebtSurvey reveal U.S. credit card debt soared in 2014

March 31, 2015

On March 10, CBS reported that credit card debt last year skyrocketed and the trend is expected to continue into 2015 as the U.S. economy continues to improve.

According a recent survey from CardHub, a total of $57.1 billion in new credit card debt was recorded in the U.S. last year. Such increase reportedly has been observed since 2013 and it is likely to continue this year. Another study published last month revealed that many Americans are plagued with credit card debt yet their earnings have only increased by 2 percent in the last decade. The average credit card debt is around $7,200, close to the $8,300 mark that some experts consider largely unmanageable.

Whatever reason you have obtained unmanageable credit card debt, know that there are legal options that can benefit you. However, if you are in such a situation in Birmingham, a lawyer from the Greenway Bankruptcy Law, LLC may be able to provide workable solutions for you to bounce back from debt. Find out how we may be able to help you today by calling (205) 324-4000.

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