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BARELY SURVIVING BY USING CREDIT CARDS
May 13, 2008 - These days, more and more people are saying "Charge it."
Finding themselves strapped for cash and unable to use their home as an ATM, Americans are
increasingly turning to credit cards to cover gas, groceries and other living expenses.
But many find themselves struggling to pay the burgeoning bills at a time when even the basic
needs are growing costlier.
"Other sources of money for a lot of Americans are drying up," said Dick Reed, regional
counseling manager of Consumer Credit Counseling Service of Greater Atlanta, who sees
more clients with mounting credit card debts these days. "Consumers just don't have a place
to go to get money. They are digging themselves into a deeper hole not only to pay for normal
living expenses, but to make minimum payments on outstanding debt."
Click on the red link to continue the story.
Source: CNN Money
May 13, 2008 - These days, more and more people are saying "Charge it."
Finding themselves strapped for cash and unable to use their home as an ATM, Americans are
increasingly turning to credit cards to cover gas, groceries and other living expenses.
But many find themselves struggling to pay the burgeoning bills at a time when even the basic
needs are growing costlier.
"Other sources of money for a lot of Americans are drying up," said Dick Reed, regional
counseling manager of Consumer Credit Counseling Service of Greater Atlanta, who sees
more clients with mounting credit card debts these days. "Consumers just don't have a place
to go to get money. They are digging themselves into a deeper hole not only to pay for normal
living expenses, but to make minimum payments on outstanding debt."
Click on the red link to continue the story.
Source: CNN Money
