Justice Debt Relief - 109 E. 17th Street Suite 13 - Cheyenne, Wyoming 82001 - 307-432-4075
Leviticus 19:15
Statistics
• It is estimated that, on average, 20% of Americans have "maxed out" their credit cards.
• About 25% of adults in the United States have a history of credit problems.
• Americans’ average credit card debt is NOW OVER $10,000 per household.
• Over 8 BILLION pre-approved credit card offers were mailed to American Consumers last year.
• Approximately 65% of consumers carry a balance on one or more credit cards. 23% have maxed out one or
more cards. 40% have missed at least one payment in the last 3 months. Fully 33% can no longer make
the minimum payments required on their credit cards.
• Nearly 80% of divorced couples between the ages of 20 and 30 report that financial problems were the
primary cause of their divorce. For other age groups, 50% of divorces couples attribute financial problems
(READ DEBT) as the primary cause of their divorce.
• Roughly 24% of personal expenditures in the United States are made using bank credit cards, retail cards,
and debit cards.
• Total unsecured credit card debt for consumers now approaches ONE TRILLION dollars in the United States!
• Approximately 185 million American consumers have at least one credit card. Of those 185 million
consumers with credit cards, 1.3 million credit card holders declared bankruptcy in 2002.
• The average card holder has 2.7 bank credit cards, 3.8 retail credit cards, and 1.1 debit cards. That’s 7.6
cards per card holder.
• Americans pay, on average, 18.9% interest rate on credit cards.
• The average household pays ALMOST $2000 in credit card INTEREST per year.
• On average, the typical credit card purchase is 112% costlier than if using cash.
• The most recent Federal Reserve study showed that 43% of U.S. families spent more than they earned. On
average, Americans spend $1.22 for each dollar they earn.
• As of 1995, 92% of American family disposable income is spent on paying debts, up from 65% in 1975.
(Federal Reserve)
• The average household is a little over $10,000 in credit card debt, up from about $3,000 in 1990. An
$10,000 debt at a rate of 19% interest will take more than 42 years to repay and cost more than $26,000 in
interest.
• Credit cards are extremely profitable for banks. Credit cards cost American consumers over $90 BILLION in
interest and fee payments each year.
Minimum Monthly Credit Card Debt Payments
It would be impossible for most people to pay off their credit card debt during their working lifetime by
making minimum credit card payments each month. The following table presents the number of years to pay
off a credit card debt balance based upon a 19% interest rate and a minimum monthly payment of 2.1% of
the outstanding balance. At the time this information was compiled, most cards required a minimum
monthly payment between 2.0% and 2.4% of the outstanding balance.
Read through
these statistics
and you will find
yourself amazed
Feel free to
contact us at any
time for any
reason and one of
our
representatives
will get back with
you
Justice Debt Relief
Is here to help you eliminate these financial concerns and prevent debt from getting further out of hand.
You can get relief from your credit card debt and get your own personal consultant who is only a phone call
away! Over 8 BILLION pre-approved credit card offers were mailed to American consumers last year.
Approximately 65% of consumers carry a balance on one or more credit cards. 23% have maxed out one or
more cards. 40% have missed at least one payment in the last 3 months. Fully 33% can no longer make the
minimum payments required on their credit cards.
