It is no secret that the economy is finally on the mend after several tough years. While this improvement is good news for businesses and families, many people in Oregon and throughout the country are still being cautious with their credit card debt. It seems that people are trying to avoid getting caught with overwhelming debt.

While the real estate market is improving and unemployment rates are down, the economy is still far from what it used to be. In a normal economic situation, the unemployment rate is five to six percent. In July of this year, the unemployment rate reached 7.4 percent which is the lowest it has been in 4.5 years. This number clearly shows that many people in the country are still struggling. This may be part of the reason why people are more hesitant to accrue credit card debt.

According to the credit reporting agency TransUnion, more Americans are making their credit card payments in a timely manner. The rate of delinquent payments is at its lowest since 1994. Only 0.57 percent of credit card payments are at least 90 days overdue. The company has been collecting data since 1992. In that time, the average number of delinquent payments is 1.02 percent.

If you struggling with consumer debt, it is important to know that you have options. You may want to consider filing for personal bankruptcy. Bankruptcy may be able to eliminate your debt and give you the chance to start fresh. A lawyer may be of assistance in this area.

Source: Oregonlive.com, “Consumer credit card balances fell in the second quarter,” August 13, 2013