The American Bankers Association reported today that the percentage of credit card accounts 30 or more days past due rose to their highest levels since the association began collecting the information in 1973.

They are also quick to point out a few major factors for the delinquencies, namely higher gas prices. “The rise in gas prices is really stretching budgets to the breaking point for some people,” the association’s chief economist, Jim Chessen, said in an interview. “Gas prices are taking huge chunks out of wallets, leaving some individuals with little left to meet their financial obligations.” While damage to the oil refineries was much less than expected most economists expect gas prices to stay high.

If you are one of the millions of Americans who are falling behind on their credit cards bills and facing bankruptcy, all hope is not lost. There are alternatives that can lower your debt by as much as 60% in as little as 12 months, I suggest visting www.debtxs.com for free consultation.

This entry was posted on Wednesday, September 28th, 2005 at 11:13 pm by Debt Relief Blog and is filed under Credit Card Debt. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.