Credit Card Debt Facts:
In February of 2009, Americans had $955.7 Billion in Outstanding Revolving Credit.
In 3rd Quarter of 2008, it was $976.8 Billion.
It has come down 2.16% from 3rd quarter 2008 to Feb. 2009.
Source: http://www.federalreserve.gov/Releases/G19/Current/g19.htm
Even though it has come down slightly, it is still a whole lot of revolving credit debt. I don’t know about [...]
Nobody plans on getting in debt, it just happens. It’s something we fall into out of necessity or out of impulsiveness. Either way, it’s not a goal we set to get in debt. It just happens.
I should know. After all, I was in debt way over my head with no possible [...]