Skip to Content

Credit Card Debt: Data from 2020 Begins to Emerge

credit card in a processor

It has been a long and unexpected journey for millions around the world. As 2020 came in like a freight train, so many Americans lost their lives, lost their jobs, and lost the sense of normalcy they had always known. Being commanded to get used to a “new normal,” was strange to say the least, and frightening, along with trying to handle sudden financial concerns.

The problem with having a viral pandemic causing health and economic disaster was not just that it was so abrupt, but all the financial issues fell on top of those that were already there. Plenty of US citizens were already in trouble or getting there, in terms of household and consumer debt. With student loans coming in at second on the list for household bills to be paid (often with both spouses owing money to student loan servicers too), many borrowers were stricken with even more panic about how to pay burdensome amounts every month.

Financial analysists see real access to vaccines as the key to real progress in getting the economy—and life in general==back on track.

“Hopefully wider vaccine availability will bring better days soon,” said Ted Rossman, an industry analyst at “Unfortunately, we’re not there yet.”

If you are now being hounded by debt collectors or are trying to deal with alarming delinquencies, speak with a debt protection attorney from Fitzgerald & Campbell, APLC as soon as possible. Getting out of debt is key to a healthy future.

“Getting out of debt is often more psychological than mathematical,” Rossman said. “A big part of the solution is to organize your budget so that you have more money coming in than going out each month.”

If you are being sued, dealing with debt is even more important—especially if there is the chance of a default judgment being granted against you, leading to wage garnishing, and possible levying of property or bank 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 issues, bankruptcy, 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

Share To: