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Originally Posted by shap
I have alot of banker friends and they all tell me the average balance owed on american CCs is absolutely shocking. I believe the average is $8000. Is that sick or what? That is per CC not including how many CCs people have.
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Unexpected things happen.
People get sick and fall behind in enormous medical bills that are impossible to pay and lose their homes because of it. People lose their jobs. Someone dies and now the family is left with no provider. Insurance goes up, taxes go up, day care is expensive, home prices trippled in the past 8 years in some places,
Everything is crazy expensive.
Its not because everyone is running to Neiman Marcus and blowing thousands on clothes, some people use their cc's just to get by and pay bills they need to pay.