We are a nation of debtors.

That has always been the case, with American consumers taking out various types of loans to finance homes, educations, automobiles and other necessities. There is often no problem with that, of course. Many individuals and families walk the debt-repayment line carefully and are able to safely stay on top of payment duties until they are extinguished.

That is not always the case, though, and it is often unforeseen factors that adversely intrude to make timely payments a real – and sometimes overwhelming – challenge. We have remarked in past Robertson, Oswalt, Nony & Associates blog entries on the devastating financial consequences that factors like sudden job loss or demotion, a major illness, divorce or a family death can yield. Such catalysts can turn a payor’s life virtually upside down, making it flatly impossible to stay current on required payments.

Recent data issued by government regulators reveal that consumers across the United States seem to be collectively steering into some notably choppy financial waters. A number of relevant statistics presently point to levels of amassed debt and related delinquencies that are troublingly high.

Here’s are a few examples. Reportedly, more than seven million consumers are late on their car payments by three months or more. Cumulative household debt nationally now exceeds what existed during the Great Recession of recent years by nearly $900 billion. And both student loan debt and credit card exactions have spiked to levels not seen for several years.

Although that is concerning, legions of consumers routinely face and overcome stark financial challenges by engaging in proactive and well-tailored strategies. A proven debt-relief attorney can help them take purposeful and effective action.