Just before the Recession of the 2000s hit, Americans were loading up. They were piling into the real estate market with easy mortgages, furnishing them with loads of credit card debt. It was an epic spending spree, a giddy real estate and stock market, and when the crash came, it was less a “correction” in the polite terms of financiers than it was a complete train wreck that wiped out the lifetime assets of millions of families. Massive job losses, foreclosures and evictions, and massive mortgage debts are still having a ripple effect today.
And we may be heading for another correction.
Buckle up, because this one is going to be a really wild ride.
You see, people have been loading up in the past decade of student debt, credit card debt, and joining a revived housing market. They’re piling up debt again, and – worrisomely – delinquencies are on the rise for credit card debts. Coupled with the Hindenburg Omen turning up in the market, a number of people are starting to get déjà vu. It’s time to sit down and look at what’s been going on with your finances for the past ten years and see what your debt load is doing to you.
This is leaving out mortgage payments or rent, in addition to other monthly expenses such as food, utilities, insurance, and gas for the car. However, when you factor all these expenses into your budget and interest rate hike could make the difference between just getting by, being comfortable, being squeezed, and simply surviving. If your spending is out of control, and your debt load is increasing to an uncomfortable degree, it’s time to get it in hand.
If you are staggering under the weight of credit card debt, call our office in Fort Lauderdale, or our office in West Palm Beach. We are open seven days a week for your scheduling convenience, and your first consultation is free. Get a big worry off your mind, and check out multiple solutions that can put paid not only to debt, but sleepless nights and anxiety. At Van Horn Law group, we have helped hundreds of people get back on solid financial ground, and we can help you if you’ll just call today.
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