Jump To Navigation

Is high credit card debt damaging for your health and happiness?

We all know that high cholesterol and high blood pressure are bad for our health, but what about credit card debt? A recent survey conducted by NerdWallet of 2,000 credit card users showed that having a high amount of credit card debt can present some serious health consequences for Americans.

Perhaps it's because of the sleepless nights, perhaps it's because of the high blood pressure, but 86 percent of people carrying a high amount of credit card debt say that they wish they hadn't made the purchases that led to that debt. They primary regret how long it took them to pay off the debt due to the high expenses and high interest rates they were forced to pay, which increased their stress levels.

A high percentage of consumers also said that their credit card debt affected various factors related to their happiness, health and standard of living. Nevertheless, on average, Americans hold approximately 6,375 in credit card debt, which is 3 percent higher than the previous year according to a study conducted by Experian. In fact, a whopping 43 percent of consumers have a credit card balance -- and that's when you really feel the burn due to the high interest rates.

Are you struggling under a mountain of credit card debt? Maybe it's time for you to explore solutions to get out from under that debt once and for all. Bankruptcy could be a great option for you, but you might also have other solutions available that can assist you in taking care of your debt once and for all.

Source: CNBC, "Why credit card debt can be bad for your health," Jessica Dickler, Feb. 13, 2018

No Comments

Leave a comment
Comment Information

Contact Form

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

Contact Information

Law Office of Ruth Nelson
7742 14th Avenue NW
Seattle, WA 98117
Phone: 206-633-2517
Map and Directions

Privacy Policy | Business Development Solutions by FindLaw, part of Thomson Reuters.