The Hidden Toll of High Interest Debt on Middle Class Families The recent case of a San Francisco couple facing a $130,000 debt load has sparked debate about the best course of action for those struggling to pay off high interest debt.
While some experts argue that bankruptcy is not an easy escape route, it's clear that the financial woes facing this family are symptomatic of a broader issue – one affecting countless middle class households across the country.
Credit card rates in the U. S. have been staggering, often exceeding 20% in recent years, with balances growing quickly when minimum payments are made.