Consumer Credit Card Debt Being Under Reported by 20% to 30%? OUCH!

The number put on U.S. credit card "zombie debt" in 2013 is between 150 billion and 175 billion dollars. 

However, this number may not include credit card debt that has gone to the courts and a judgement has been procured by the credit card companies. I would suggest that we could safely guess another 100 billion dollars in court ordered credit card payments as well.

That means as much, or perhaps more than 250 billion dollars of credit card debt IS NOT being reported whenever consumer debt reports come out. 

OUCH!

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Even the Peace Corps like increasing Consumer Debt, gasp.

I kind of find it amazing that the Peace Corps would be in favor of more consumer debt. Their rationale is that it means more jobs which in turn fuels consumers "confidence" in borrowing more. This what is called an unending ponzie scheme that fails to take into account increased pressure on the world's precious resources, a necessary schism for economic growth to occur.

This in turn just leads to more wars and more debt and more consumer interest charges on that debt, which eventually leads to loss of consumer wealth and the transfer of that wealth to the banks, the government, and wall street.

Look for Canada to fall hard in the next year or two from mounting consumer debt caused from a bubble of increasing home values.

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Consumer Debt Trends Not All Roses, Says Collection Firm Johnson Morgan and White

This is exactly what I have been claiming, that overall consumer debt levels are higher because of third party debt collection activities and court actions.  Plus, cars have aged, that is why auto debt is down.

Consumer Debt Trends Not All Roses, Says Collection Firm Johnson Morgan and White

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Chase Bank spits out a hairball class action lawsuit settlement regarding raising their customers monthly minimum payment by 150%.

Chase Bank spits out a hairball class action lawsuit settlement regarding raising their customers monthly minimum payment by 150%.

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Our average debt is almost €10,000 now via @independent_ie, say Irish newspaper.

Our average debt (In Ireland) is almost €10,000 now via @independent_ie

It starts with a 2% monthly minimum credit card payment, and that small credit card monthly minimum payment erosion grows over time until it suffocates the middle class.

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Moody's warns (Canadian) banks on ratings.

Out of control consumer debt is caused by 2% monthly minimum credit card payments.  2% monthly minimum credit card payments are as dangerous to society as cigarette smoking.

if Debt could be cut by 50% to 75%, then credit cards could raise their monthly minimum payments to 5%, and that would accurately and truthfully reflect what it means to have credit card debt.

Moody's warns (Canadian) banks on ratings

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Rising consumer debt may bode well for economy - Worcester Telegram & Gazette - telegram.com, gasp, more consumer debt is good, propaganda.

These types of articles come from those who support financial terrorism policies.

Hopefully more and more people are catching on to this obvious propaganda that is full of sound and fury signifying greed from the wealthy elite. The wealthy elite should be spending their money, not trying to put those already in debt, further into debt, so the wealthy elite can continue to soak an indebted society via interest rate charges on expanding debt, also known as never ending profiteering.

Rising consumer debt may bode well for economy - Worcester Telegram & Gazette - telegram.com

Please consider signing the Debt Neutrality Petition by by clicking here.