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Americans have varying perceptions about credit card debt


The United States is a large country and its different regions offer individuals different cultures and social climates. For example, the East Coast is often believed to be more fast-paced than the West Coast, which carries with it perceptions of laid-back living. The Midwest and its residents have a reputation for being friendly, and the South is known for its hospitality and charm. What readers of this Tennessee bankruptcy law blog may not know is that these regional attitudes are not only applicable toward style of living but also to how people feel about money and debts.

According to a recent survey, people who live in the middle of the country are the most embarrassed by their outstanding credit card bills and therefore are the least inclined to carry it. Over 61 percent of Midwest residents surveyed indicated that they would not want to tell others about their debts, while under 50 percent of people living in the Northeastern part of the nation indicated similar feelings.

Regional values and beliefs may influence how debt, particularly credit card debt, is perceived throughout the nation. However, few people, regardless of the situs of their residence, experience positive emotions when they think about their outstanding bills and obligations. Credit card debt is stressful and many people worry about what delinquent debts will do to their credit scores.

Credit card debt is not a burden that an individual must shoulder by himself. Even if he is not comfortable discussing his debts with his friends and family, he may find some peace by discussing his debt relief options with a bankruptcy and debt relief legal professional. Lawyers who work in this field provide their clients with confidential guidance on options for managing their financial challenges in hopes of finding a resolution that will provide them with a new financial start.

Source: marketwatch.com, "These Americans are the most embarrassed about their credit-card debt," Maria Lamanga, Jan. 28, 2016

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