Consumer Payment Card News

Debt Recovery

While Americans wallow in a mountain of unsecured debt they are pulling themselves up by the bootstraps rather than waiting for a handout. A new study shows that 47% of consumers are handling their debt problems themselves. Additional studies show 11% are getting help from family/friends; 4% are going to a non-profit credit counselor; 3% are seeking help of a bankruptcy attorney; and 2% are working with a debt settlement company. The findings were concluded through a national telephone poll of 500 female adult and 500 male adult interviews conducted for Credit.com by GfK Custom Research North America in June.

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