Credit Card Debt; the addiction nobody talks about
You are not alone.
Up to 7 percent of Americans could be categorized as compulsive buyers, according to studies published by the National Center for Biotechnology Information. For some, the urge to purchase an item comes and goes in a matter of seconds. That person recognizes other goals trump the momentary sense of euphoria brought on by a shiny new purchase. For others, it is an addiction just as devastating and controlling as methamphetamine or alcohol, according to research by the Shulman Center For Compulsive Theft, Spending & Hoarding.
Credit card debt is a trend that is growing.
According to research conducted by the Federal Reserve, as of November, 2014 the average home in America with debt, carries more than $15,000 in credit card debt. Even when homes across the U.S. without debt are included in the math, the amount of debt carried in American homes averages out to more than $7,000 in unsecured debt.
The addiction can be prompted by many things, including traumatic changes in someone’s life.Whatever it’s cause, Shulman Center staff members suggest a first step is to reach out to a trusted source who can unravel the problem and chart a course toward debt resolution. It would also be helpful to work with professionals who can help retrain debtors to be able to live a healthy lifestyle.
If you recognize yourself in the first paragraph of this article, take a deep breath. It doesn’t have to be this way. You can stop the debt merry-go-round with one simple decision to reach out for help.
You don’t have to go it alone.
Write a new chapter in your life by calling any one of these resources:
- Reputable debt and credit counseling services
- A well established debt consolidation service
- Local mental health outpatient services
- Your local bank
- Other credit companies who offer a long 0 APR
- An appraiser who can appraise your net worth for a possible sale
Any one of these calls could open a door today to a new life, where sleep is sweet and you can see around the corner of your life to a future that makes sense.
When you begin to communicate with others who understand, know the business and can help you plan and keep moving forward with that plan, each day will create momentum toward your dreams of being debt free.