Credit Card Crisis: Americans Are Barely Surviving On Credit Cards

With the US economy heading into a recession, more and more Americans can barely meet the basic living expenses.

Los Angeles, CA 5/09/2008 10:37 PM GMT (TransWorldNews)

            With the US economy heading into a recession, more and more Americans can barely meet the basic living expenses. Because of the housing slump, they can no longer depend on their homes for cash. More and more people are using credit cards to cover for groceries, utility bills, and other living expense. But many can’t afford to pay the bills.

 

            According to the Federal Reserve report, credit card debt increased to 6.7 % ($957.2 billion) in the first quarter of this year. Experts say, “Many people can not increase their income, but their expense are going up. The only way that they can make ends meet is to rack up credit card debt.” In the past, American can refinance their homes. The advantage of refinancing, lines of credit, or home loans is the lower interest rate.

 

             

 

 

About Easyonlinefunds.com

Are you buried under a pile of debt and need help getting out? Visit Easyonlinefunds.com for Credit & Debt Counseling Services 

nengc@hotmail.com
www.easyonlinefunds.com

 

News Alerts

Receive alerts for Easy Online Loans Co., LTD to your inbox. Sign up for News Alerts

Empty Image

TransWorldNews, Inc. and its affiliate sites disclaim all liability for information and content provided by clients and appearing within their news and press releases.

Empty Image