Bird & Van Dyke, Inc. - A Professional Law Corporation
Contact us for a Free Initial Consultation | Se Habla EspaƱol
Stockton 209-390-8877
Tracy 209-832-4800

Can California residents limit credit card debt during holidays?

Tis the season for gift giving. As a result, many California residents are turning to their credit cards as a way to be the ultimate gift giver. However, when the holiday season is over, the credit card debt accrued during this time of year can stick around, proving to be a substantial piece of coal in anyone's stocking all year long.

Recent statistics have reported that credit card debt across the country is on the rise again. It was released that for the third quarter of 2012, the average amount of credit card debt was just under $5,000. This is a 4.9 percent rise from the third quarter of 2011.

It was also reported that the number of consumers who were 90 days or more behind on payments has also risen, from 0.71 percent in the third quarter of 2011, to 0.75 percent for the third quarter in 2012. This increase however was even more magnified if looking at the second quarter of 2011. It was reported that only 0.60 percent were behind on payments at that time.

It can be easy for many California consumers to lose track of the amount of credit card debt they are piling up during the excitement of the gift-giving season. However, even if this debt begins to soar out of control, there may still be some options available for consumers to rid themselves of this debt. Filing for bankruptcy is one such option, which may be the solution that some consumers need in order to get their financial status back on track and under control.

Source: USA Today, "Average credit card debt per borrower up in 3Q," Nov. 19, 2012

No Comments

Leave a comment
Comment Information
Email Us Today

Contact Bird & Van Dyke

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Review Us

Stockton Office
2111 West March Lane, Suite B 300
Stockton, CA 95207

Phone: 209-390-8877
Fax: 209-478-9954
Stockton Law Office Map

Tracy Office
1138 Parker Avenue, Unit B
Tracy, CA 95376

Phone: 209-390-8877
Phone: 209-832-4800
Fax: 209-478-9954
Tracy Law Office Map