One consumer credit expert is freaking out, and calling on American consumers to wise up and prepare for financial hardship in a reaction to $1 Trillion consumer credit card debt bubble report.
Fort Lauderdale, FL -- (SBWIRE) -- 03/22/2016 -- U.S. consumers are holding nearly $1 Trillion in debt on revolving credit lines according to a CNBC report. The credit experts at ReallyBadCreditOffers.com have reacted to the news, stating the data is 'Devastating.'
"We see first hand the emotional and financial impact to families when they are overwhelmed by credit card debts. It only takes one money emergency, an unexpected job loss for the whole house of cards to come down," stated Ariel Pryor, consumer finance expert with the personal finance firm.
It doesn't take a genius to understand that with more debt comes more risk, and Mr. Pryor doesn't mince words when describing the precarious position American consumers find themselves in by owing so much as a nation to the credit card companies. The company isn't 100% opposed to credit cards usage, people can visit https://www.reallybadcreditoffers.com/credit-cards.php to view their recommendations and admits they can be useful when used conservatively.
"Americans are overextended. We are a fun now, pay later society. But you can only kick the can down the road so long. At some point, the bills will come do, and it will be painful," added Mr. Pryor.
Approaching financial decisions with a heavy heap of caution is not a new policy for the bad credit resources company. Helping their visitors achieve financial freedom is their ultimate goal, according to the company.
Typically they work with people after serious financial mistakes have been made, commonly families with ruined credit scores who are struggling to get back on their feet. The site provides a number of popular financial blueprints like the 'Ultimate DIY Credit Repair Guide' for people who want to learn more about recovering from their past mistakes.
Pryor founded the brand to give straight talk, tough love personal finance advice. "Credit cards can be incredibly useful and convenient. They should be used with caution however. Too much credit card debt can crush a family and devastates lives."
Despite surging U.S. Credit card borrowing numbers, they are still optimistic. The American consumer is much smarter than the average analyst gives them credit for. They know what is in their best interest and may correct course before a crisis.
If not, he warns Americans to expect an inevitable wave of defaults, and a surge of bankruptcies -- if the economy should falter. Financial hardship is to be expected and prepared for. When families struggle to put food on the table and pay their bills - the credit card payments will be the first to fall.
People who want to see more of their money success secrets or DIY consumer credit hacks are encouraged to connect via Facebook to see more of the company's money success straight talk at https://www.facebook.com/pages/Really-Bad-Credit-Offers/832199373498758
About ReallyBadCreditOffers.com
ReallyBadCreditOffers.com provides everything needed to make mincemeat of debt and attack even the toughest financial problems with innovative, eye-opening tools, strategies, and advice.
Visit the website to learn more about how we can help people struggling financially get back on track here: https://www.reallybadcreditoffers.com
Source: CNBC Debt Report