Within this article, the author, Peter Andrew, poses an excellent question – should credit cards be considered a failed experiment? As a attorney whose practice is focused on credit card debt and workout, I have asked this question along with many others regarding the validity of the credit card system. I see client after client that tried to use credit cards to keep it all together during a job loss, medical crisis, family crisis, etc. and although it provided temporary relief, they now have to figure out a way to pay the piper. I can’t help but ask myself – if this person didn’t have a credit card, would they have figured out a better way to get through the hard times? I guess it really depends on the circumstances of the individual but one thing is clear, we as a society need to be more cognizant of the costs associated with our credit card debt or we will never get ahead financially.
Kevin Fallon McCarthy
Latest posts by Kevin Fallon McCarthy (see all)
- Different Ways to Get Out of Debt - January 22, 2019
- Public Servants’ Second Chance at Federal Student Loan Forgiveness - April 10, 2018
- CREDIT CARD LOSS FOR SMALL BANKS AT AN EIGHT YEAR HIGH - March 22, 2018
- Rise of the Jumbo Student Loans - March 17, 2018
- Credit Card Market: Now and Then - February 23, 2018