Americans are now carrying more than $1 trillion in credit card debt — a new record. And the average interest rate they’re paying is just over 21%.
That’s a horrendous burden— especially for those who are retired on a fixed income and charging more each month just to pay for essentials. Here’s what it looks like — directly from an AskTerry post this week:
, those aged 55 and older account for 20% of all bankruptcy filings. And inflation continues to take its toll on the cost of food, energy and housing.
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