Americans Raising Their Personal Debt Ceilings Again
While Congress is busy trying to figure out the Debt Ceiling issue, most Americans are becoming less and less concerned with their own debt. Consumers were notably more wallet-conscious over the past three years, paying off debt and cutting up credit cards. But recent reports are showing that more Americans are using credit cards again and debt is back on the rise.
Consumer debt has increased each month in 2011, according to New Reserve statistics. The total consumer debt rose by 2.5 percent just in May alone. And recent surveys show that lending institutions expect half of all credit card balances will rise over the next six months.
Check out these two articles for the full statistics and tips for staying under your own debt ceiling.