Well, it’s not anything like the financial woes that crashed down on millions of Americans during the so-called Great Recession of recent years.
But the current signals pointing strongly to increased money problems for high numbers of individuals and families across the country are concerning, say commentators, and require some attention.
Here’s what some of the country’s major lenders are stressing: increasingly more Americans are struggling with credit card debt.
In fact, bank researchers state that September marked the third straight month of rises for cards in delinquency status.
A recent Reuters article discussing the pattern of escalating household debt cites growing financial pressures that are apparently being faced by spiking numbers of consumers nationally.
The Reuters piece does not delve deeply into specific causes underlying the problems many people are facing.
It does touch upon payment issues with home mortgages and auto loans, though. And it is certainly the case — as always — that steep and often unexpected medical bills bring stark challenges for debtors. When they are forced to make payments with high-interest credit cards, a predictable cycle of ever-rising debt comes to the fore.
Experienced attorneys who routinely work with clients facing hard financial burdens understand well the feeling they often have that their problems are simply too great to deal with.
That is simply not the case, though, given the route to renewed financial freedom offered by bankruptcy and other debt-reduction strategies.
A challenging debt level does not equate to a lifetime sentence of hopelessness. A concerned debtor can reach out for help and a fresh start to a proven debt-relief attorney.