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Law Office of James L. Keenan

Help when you need it

Personal service since 1995

James Keenan Law

Contact me for a free consultation!

PH 916.448.6923

TXT 916.715.6145

EMAIL James now!

Contact me for a free consultation!

PH (916) 448-6923

TXT (916) 715-6145

EMAIL James now!

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Sacramento Bankruptcy & Debt Relief Attorney

Get news, tips and information about bankruptcy filing and debt relief/elimination in Sacramento

Rising Credit Card Debt

 Rising credit card debt is a byproduct of the improved economy. According to a CBS News report, credit card debt has surpassed a trillion dollars nationwide. That's a lot. The more the economy grows, the more credit that becomes available. And with it, debt.

Credit is beneficial in generating a stronger economy. It allows business expansion, home ownership and personal spending, all of which further stretch the economy. There's no problem with this concept. But with rising debt, particularly rising credit card debt, problems can arise. If consumer income does not rise at the same pace as consumer debt, defaults can occur.

How to deal with rising credit card debt is becoming a nationwide issue. And the problem is growing. Sacramento credit card debt increases are on par with national numbers. What, then, to do?

Paying off credit card debt is an option. But only an option. Most, though, can't do it. They can't afford it. The cost of living is rising along with the economy. Food, clothing, transportation and other essentials expenses are on the rise. This leaves less money available to pay off credit card debt. Interest costs are going up, too. This makes credit card debt that much more expensive.

Bankruptcy is a way rising credit card debt can be stopped. Bankruptcy can eliminate all your credit card debt. It is not an option for everyone. But for those who cannot afford their credit card debt it is good option.

A sign consumers may benefit from bankruptcy is not just rising credit card debt, but an increased number of credit card accounts. This often leads to paying off credit card debt with other credit card debt. Robbing Peter to pay Paul is downward spiral. Filing bankruptcy can break this cycle. Contact me to consider your bankruptcy options.

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Law Offices of James L. Keenan

2600 H St. Sacramento, CA 95816

Phone: 916-448-6923

Fax: 916-442-6524

Email: jameslkeenan@aol.com

Office Hours: Mon – Fri 8 a.m. – 5:30 p.m.

Evening Appointments Available

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Disclaimer: The legal information presented at this site should not be construed to be formal legal advice, nor the formation of a lawyer or attorney client relationship. Any results set forth herein are based upon the facts of that particular case and do not represent a promise or guarantee. Please contact James Keenan personally for a consultation on your particular matter. This web site is not intended to solicit clients for matters outside of the state of California.