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.