Can You Escape the Trap of Ever
Growing Debt?
It's
difficult not to be concerned when facing numbers like
these:
43% of U.S.
families spent more than they earned. On average, Americans spend $1.22
for
each dollar they earn.
Standard Households have
about
$8,000 in credit card debt.
In the past decade
Personal
bankruptcies have doubled.
Americans owed $1.9773
trillion
in October 2003. This amount has increased 41% from what consumers owed
in
1998.
The average American
household
has $18,654 in debt not including mortgage debt.
In excess of 1 million
homeowners
currently have 3 or 4 mortgages on their homes.
1.8 million Homeowners
have loans
equal to 100% or more the value of their homes.
Personal bankruptcy
filings in
2003, rose 7.8% from the same period in 2002
Average U.S.
household with a mortgage, two college graduates who borrowed money for
school
and more than one credit card, owes about $112,000.
Do these
scary statistics describe your situation? Do
you feel trapped by your debt? There is
hope! The key to escaping the trap of ever
growing debt
is simple: you need to spend less than you make. At LoseDebt.org
we outline a free and simple debt
elimination plan to help you get on track and start eliminating
your
Debt. Let us help you avoid
bankruptcy and start the process
of creating wealth.
Source:
http://moneycentral.msn.com/content/SavingandDebt/P70741.asp
