Credit card debt isn’t just on the rise. It’s reached the point where the average person may never pay it back. As Memphis Business Journal reports:

The average indebted household’s balance is projected at $7,813 by year end, the highest amount since the recession and $615 below the tipping point CardHub identifies as being unsustainable.

That means almost every American family with any credit card debt at all is at the breaking point. Think about that. We’re talking about millions and millions of families unable to pay off their debt. We’re talking more than $900 billon owed to companies that might never be paid.

That’s a terrible situation for those families, and also for American businesses.

But as I discussed last week, this problem isn’t solely the fault of the people who take on the debt. Our entire culture is built around credit, and companies even plan ahead for many of their customers not to pay off their debt. That’s how common it is.

I find it interesting they know the exact dollar amount considered unsustainable. And yet companies still issue credit cards to families with that much debt and more. They still encourage spending. The government doesn’t stop it. No one does.

So it’s on you to make sure you don’t reach the tipping point. And for so many people I meet every day, they’re already there.

The point of all this is to let you know how common your situation is. Turn to the right and to the left, and both people you see might be dealing with the exact same debt as you are. We don’t like to talk about it, but crippling debt is a regular part of so many people’s lives.

It’s unhealthy to pretend you’re alone, or to decide not to deal with it. That just makes you sadder and puts off the inevitable. Instead, you can get out of debt with the help of our team. And at our office, the process is simple.

If you’re dealing with credit card debt you can’t pay, call me today at 901-327-1212. Our bankruptcy lawyers Memphis, TN turns to helps people in your situation every day, and we even offer credit repair help to our clients. We’ll discuss your options, no charge.