After nearly three years of declines, revolving debt is beginning to climb once again according to the US Federal Reserves.
The Fed’s report shows that total consumer revolving debt, which includes credit cards, increased nearly $2 billion dollars in March from February. Total Consumer Revolving debt now stands at $796.1 billion
While $796.1 billion may sound like a staggering figure, it is important to note that this is substantially down from a peak of $974 billion reached in August 2008. The significant drop in consumer revolving debt is a direct result of the lingering recession, bank charge offs and consumers focused on debt reduction.
If you are still struggling with credit card debt and looking for options for resolving your debt call us today 1-877-722-3328 or email [email protected]. One of our debt specialists will review your situation and options, and if appropriate discuss our NO UPFRONT FEEs debt settlement program.