Skip to main content
(678) 915-2634 Contact Us
Study suggests heavy credit card burdens not due to bad choices Atlanta, GA

Personal Attention & Experience Since 1971 Family-Owned, Family Focused

Client Reviews

Study suggests heavy credit card burdens not due to bad choices

depressed woman covering face with hands

It is not uncommon to think that if a person has a mountain of credit card debt that they must be profligate spenders. There have been a lot of studies to suggest that it is not the case. The latest of these from the public policy group Demos. And still, the stereotype tends to persist.

According to the recently released study, the factors that appear to be the biggest contributors to households carrying burdensome credit card debt involved things like unemployment, underemployment, health care issues and a general lack of available cash in savings. 

The findings by Demos were generated from a survey that was conducted in 2012. What it found was that credit card debt was more 14 percent more likely to be found in homes where just one family member had been out of work for as little as two months during the previous three years.

Another telling bit of data was that nearly 40 percent of responding households with debt loads reported they had at least one family member who had sought full-time work during the previous three years, but had only been able to find part-time employment. By comparison, that scenario was found in only 22 percent of households reporting that they were debt-free.

In the area of health care, 60 percent of respondents carrying debt reported that out-of-pocket costs had led to them to incur credit card charges. It didn’t matter if they had insurance or not.

The fact of the matter is that it is not difficult for persons to find themselves in dire need of debt relief. For many, bankruptcy might be the appropriate means for recovery. To learn what options might exist and which might be best, it’s always best to consult an attorney.

Source: ThinkProgress, “No, People Don’t Get Buried In Credit Card Debt Because They’re Bad With Money,” Bryce Covert, May 10, 2014

Posted on behalf of Jamie L. Gingold, PC

195 14th Street NE #1604
Atlanta, GA 30309

Phone: (678) 915-2634


First Free

    DisclaimerPrivacy Policy

    I have read the Disclaimer and Privacy Policy

    Our Client Reviews

    Jamie L. Gingold, PC
    5.0 / 5.0

    Based on 28 reviews

    Jack L.

    They did an excellent job with my case. Jamie took the time to really listen and understand things. She delved into the details and was extremely knowledgeable and non judgmental. Very professional and they know what they are doing. Would definitely recommend!

    Karen B.

    Dear Mr Gingold, There are so many reasons to be thankful for all you have done and will do. Anyone who has ever had unfavorable experiences with an attorney or the legal system will feel the trepidation that I experienced once I realized that my situation seemed hopeless. It was by chance and happily good luck that I decided to put my future and sanity into your hands. I was mortified at having to deal with my debts by claiming bankruptcy. I remember in our first meeting how you assured me that I was not alone and should not feel ashamed. And, anyone in this position obviously does not have money to spare and you were clear about all the costs and allowing me to pay according to my own ability to do so. You advised me in all aspects of the law, but also, you were at each meeting incredibly supportive and complementary of my personal and professional plans. Anyone else in this situation should feel blessed to have access to your expertise and support.

    Lyla B.

    I thought the process of filing bankruptcy was going to be a difficult one. However, Gingold & Gingold treated me with respect and dignity from the moment I walked through their door. I had the pleasure of working with Jamie. She is very responsive, professional, and knowledgeable. She took the time and listened to my every concern and handled each and every one of them to my satisfaction. My experience with filing bankruptcy under Gingold & Gingold's representation exceeded my expectations in a major way. They gave me such a peace of mind. I am very pleased with my decision of going with Gingold & Gingold to represent me when I filed Chapter 13 bankruptcy.

    Julie T.

    Wow! I am finally out of debt and can say that I am debt free after completing my chapter 7 bankruptcy case with Gingold and Gingold. Mr dangled was very knowledgeable and direct with regard to my debt situation. there were no surprises and the case went as I was advised. The staff was also very helpful whenever I had a question. I will definitely recommend them in the future to my friends.

    Julie T.

    I contacted getting old and getting old regarding some old tax debt and credit card debt that I needed to address and had been putting off. miss Irving in the office was very very nice and put me at ease. I met with Jaime Gingold. She was very nice and explained the procedure to me and what would be left owing to the Internal Revenue Service and the State of Georgia after my case was done. My case has now been completed and I am on my way to a new start. Thank you Gingold and Gingold for all of your help.

    Anna T.

    Amazing! Outstanding!! They went over and beyond..I would recommend them to anyone needing a lawyer!!

    Write a review