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Credit Card Debt in the US: Americans Carrying Balances on More Than Half of Accounts

Multiple credit cards spread out

Before the coronavirus began to make its devastating stamp on the world and the US, consumer and household debt were already reaching historical highs quarter after quarter. While money mismanagement was often a culprit for such debt, more so the problem tended to be due to a major illness or injury, unemployment, family problems like a divorce, and of course also—the burden of student loan debt. Credit card debt is usually the sign of a large problem, and one pointing to an income that is stressed or in the case of unemployment, nonexistent. 

With the onset of COVID-19 and unemployment throwing tens of millions of Americans into serious financial distress, any available credit card balances suddenly became a forced, alternative form of income. Unfortunately, credit cards can become maxed out exceedingly fast—and creditors and debt collection agencies are only sympathetic for so long. The cycle of debt can become stressful and hard to resolve without help, which is why it is important to seek the advice of an experienced debt protection attorney. 

While you may feel embarrassed about any debt problems or may want to just shove them under the rug and forget about them, keep in mind that you are not alone; millions of others have been through similar, extremely difficult circumstances like illness and unemployment—especially since 2020. 

Now, Americans are carrying balances on more than half of their credit. Recent data shows that they held a balance of 54 percent on all credit card accounts that were active at the beginning of 2021. 

If your credit card debt is out of control, seek help before the problem gets worse. If you have been served with a summons and complaint, time is of the essence more than ever! With the help of an experienced credit card debt attorney, you can avoid the repercussions of more serious problems like a default judgment—resulting in further complications like wage garnishment, seizure of property, and loss of control over financial accounts. 

Speak with an attorney from Fitzgerald & Campbell, APLC as soon as possible to examine your options. Our attorneys have decades of experience in serving clients as they navigate through challenging financial situations, to include student loan issuesbankruptcy, and other debt management processes. We are here to help! Click here to schedule a free 30-minute consultation, call us at (844) 431-3851, or email us at

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