So, the talking heads otherwise known as prognosticators,
basically said that family household debt of all types has not
taken any big drops since 2008. 2008 is what I call the big
boy scout economic jamboree, changing the face of the US and
therefore the world economy forever, to what I call a new economic and business order.
An article from 2013 in put the average debt of Americans at two hundred and twenty five thousand,

Here is how it breaks down:
• Average credit card debt among indebted households: $15,263
• Average credit card interest rate: 14.95% APR
• Average mortgage debt: $147,591
• Average outstanding student loan balance: $31,646
• Average auto loan debt: $30,738
• Only 59 percent of Americans have at least $500 in a savings account saved

That last statistic is scary. Even with all this debt, if a person
has a decent credit score and is not being kept awake at night
they do not want to give up their credit cards. On as little as ten thousand dollars of debt a person paying more than 18% interest
making minimum payments on the credit card is in a pay for life program. The banks love you! The number of people who are
unwilling to close the majority of their credit cards for a debt management program, where they will be paid in full in less than five years is becoming fewer and fewer. Why? Because they are afraid that they will need the credit cards in an emergency. That alone should give you a hint of the real state of the economy. It is just a matter of time before the cycle changes again and people have run up their unsecured debt before they no longe need debt management but require debt settlement because the minimum payments have risen to the point of no return. Please do not be foolish, because it is all about to change again, and it
will not be pretty.
If you need free debt counseling with no judgements or sales pitch, please feel free to call American Debt Enders.
Yours Truly

Steven Ciantro
Consumer Advocate
American Debt Enders
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