The Law Office of Kim Covington

Call For A Free 1-Hour Consultation
541-393-2790 | 800-673-1891

Please Ask For Kim Directly When Scheduling An Appointment

Americans take on more credit card debt

From the loss of a job to medical problems that were never expected, people experience financial hardships for all sorts of different reasons. Sometimes, people in Eugene and across Oregon decide to take on credit card debt. However, this can be a costly decision and some struggle with paying off credit cards later on.

According to a recent report, Americans have recently taken on a considerable amount of credit card debt. The debt, which exceeded $1 trillion at the close of 2016, reflects the greatest level of credit card debt across the country in the years following the recession. In recent years, some Americans have turned to credit cards due to struggling with increasingly costly living expenses.

While many have taken on credit card debt to assist with living costs, this decision can be expensive. After all, another report states that the average interest rate on credit cards in the U.S. is 19 percent. Americans also owe a significant amount of money on mortgages and student loans, although the level of student loan debt people take on has been declining.

For those who want to wipe out credit card debt, taking immediate action is essential. For some people, receiving a tax refund is an excellent way to pay off credit cards. For others, such as those who have a tremendous amount of credit card debt, other strategies are necessary. People who are buried in credit card debt should closely examine all of their choices and may want to think about reaching out to an attorney who knows how to tackle debt.

Source: CNBC, "Credit card users rack up over $1 trillion in debt," Jessica Dickler, Feb. 17, 2017

No Comments

Leave a comment
Comment Information
email us for a response

Learn More About Your Fresh Financial Start

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

The Law Office of Kim Covington is a debt relief agency, and I have helped families, individuals and small businesses, file for bankruptcy relief under the U.S. Bankruptcy Code, for over 19 years.

The Law Office of Kim Covington

The Law Office of Kim Covington
1445 Willamette Street, Suite 9
Eugene, OR 97401

Toll Free: 800-673-1891
Phone: 541-393-2790
Fax: 541-344-6466
Eugene Law Office Map

P: 541-393-2790

T: 800-673-1891

F: 541-344-6466