What happens when there is too much credit card debt? The average person only has 3 choices, pay it off, defer it, or default.

Debt eventually crowds out future spending. The enjoyment of the purchase fades, the purchased item gets old, but the debt will remain until it is dealt with.

What happens when the nations credit card has too much debt? The current structure allows the government a fourth option, go farther into debt just to pay the interest. –but even that has an end game scenario. You will see it over the next few years. It’s how we all react that will determine the outcome. Make it peaceful, make it positive by acting now.

Please.

(Bloomberg) — Americans are projected to fall seriously behind on their credit card bills at the highest rate in a decade as banks push a record number of people to get plastic.The share of credit card borrowers who are at least 90 days past due on their accounts will probably tick up to 2.01% next

Source: Americans’ Credit Card Debt Poised to Reach 10-Year High