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There’s a good chance that Americans’ total credit card balances will soon reach a new record high

Prices are rising and credit card balances are hitting record levels. Interest rates are moving up into the 18% APR range for folks with better credit ratings. Worse for the rest.

Household debt is rising faster than inflation. Due to record high home values, credit card lenders are eager to sue delinquent borrowers and take judgment liens on their homes.

After consumers paid off $83 billion in credit card debt during the pandemic, helped by government stimulus checks and fewer opportunities for discretionary purchases, credit card balances have steadily ticked back up amid higher prices for gas, groceries and housing, among other necessities.

Since most credit cards have a variable annual percentage rate, there’s a direct connection to the Fed’s benchmark. Interest rates are going up by increments not seen in 40 years. Soon your payments will go to all interest.

When creditors come for your paycheck or car or home, you DO have options. You CAN save your home and paycheck.

Call for free bankruptcy and government enforced debt-reorganization consultation today.