It has to come to where Americans are now willing to admit their weight than their credit card debt. The results of a recent survey show that 40 percent of the respondents are more ashamed of the amount of debt on their credit card than they are of how much they weigh or their age. Second to credit card debt is the credit score. Less than 15 percent of those surveyed said that they are embarrassed by their weight. The survey was conducted by the National Foundation for Credit Counseling.
A spokesperson for the organization believes that since those surveyed are more ashamed of things dealing with their credit, they might be uncomfortable with how they are managing money. However, it might not be because people are really embarrassed. Discussions of credit card debt are not highly favored around the dinner table or while out with friends as this is a subject that can be touchy with some. There are people who might have mounds of debt while others don’t bother getting credit cards.
The average American household has $7,087 in credit card debt, with a nationwide total of $854.2 billion. This ranks as the third largest source of debt in the country next to student loans and mortgages. Those who have significant amounts of debt should not be embarrassed as there are services attainable to help with getting a budget together and getting credit cards paid.
One way to consolidate bills or to rid oneself of them is to file for bankruptcy. Credit card debt is one of the things that an attorney can look at as well as medical bills and mortgage payments. There are requirements attached to a Chapter 7 filing that the attorney can explain.
Source: MSN Money, “ We’re more ashamed of credit card debt than weight“, Krystal Steinmetz, April 23, 2014