One of the biggest burdens a household can face is substantial credit card debt. When a person puts large purchases on their credit cards, they can suddenly find themselves in way over their heads. This problem has gotten so bad that the average household now carries more than $15,000 in credit card debt alone. This is a major problem that people need to face. If they fall too far behind on their bills, they may need the help of a bankruptcy attorney to get their debt in order.
One big issue that has led to this increase in credit card debt is that household earnings have been stagnant for more than a decade. The costs of food, utilities, and health care have gone up substantially while wages have not. Credit cards have become necessary for many people just to make ends meet. People rack up debt on their credit cards, assuming they will simply pay it off later. But what they find is that later never comes.
This may not seem like a problem to a person who has a stable job and steady income. They assume that they’ll just keep paying their credit card debt each month and will just manage their debt. But people lose jobs all the time, injuries or accidents can prevent people from working, and other problems can make even the steadiest job disappear. Suddenly this manageable credit card can become a serious financial burden.
At Westbrook Law Group, we have helped many people with their credit card bills. Good people can find themselves suddenly trapped in debt, unable to make ends meet. When this happens, bankruptcy may be able to help. We will carefully examine your situation to find the best solution for your debt troubles. For a free consultation to discuss your debt, contact Westbrook Law Group today.