Insurmountable Debt: Today's Financial Crisis
8 in 10 Americans are in debt (Source: CNBC.com ) . We all dream of achieving a debt-free lifestyle, but the unfortunate truth is that most of us will never get there. However, having debt is not necessarily a bad thing. Car loans and mortgage loans, for instance, allow us to own cars and homes that we would never be able to afford if were limited to making out-of-pocket purchases. If you fall behind on payments, though, even "good" debt becomes a massive financial burden. If you or someone you know is struggling with delinquent debt, having a debt collections attorney on your side may be worth its weigh t in gold. Debt In America - A Brief Overview Americans are currently facing a debt crisis, with figures at all-time highs. Here are a few eye-opening statistics about the current debt level in America: The total outstanding consumer debt is $3.4 trillion.* 38.1% of households carry some amount of credit card debt.* Student loan debt currently exceeds all othe...