Credit Repair Blog 
Duh—Credit Woes of 2008 Are Hurting Consumers
A recent survey by Standard & Poor’s shows that 10% of Americans are taking out more cash advances on their credit cards than in the past.
The survey also showed U.S. credit card users are struggling under a burden of high credit card balances. One in five individuals surveyed indicate they are “sometimes” (14%) or “always” (6%) unable to pay their credit card and/or loan(s) balances each month. An additional 8% can only make minimum payment required and another 8% either always or sometimes pay less than the minimum.
As we have discussed in previous articles, consumer credit card defaults typically trail home foreclosures by 2-3 months. Get ready for some more credit problems in early 2009.
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