How many Americans are estimated to owe the credit card?
I am also tons of credit card debt and I know I am not alone, so I'm just curious about how many Americans are in credit card debt and approx. How much of that is actually collected by collection agencies? What if the collection agencies can not charge anything for the debtor?
Gema responded well to your question. What I do not understand is why so many people in this type of debt? I learned several years ago not to spend more on credit cards in one months then you can afford to pay in full. I can use 3 credit cards for almost everything I buy every month due to the repayment of money that offer prizes, but always pay in full before the due dates, so you never pay interest and get cash each year to make other people's money for free. If people use credit cards correctly this problem would not exist.