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How have consumers been handling inflation? Looks like they have been charging the higher costs to plastic. Interesting data in this article:

"U.S. consumers are back to bad habits when it comes to credit card debt. Following a record-setting reduction in 2020, consumers added a total of $86.2 billion in new credit card debt to their tab during 2021, capped off by a $73.1 billion increase during the fourth quarter alone. Now, consumers have started 2022 by paying down just $12.5 billion in Q1 and adding a staggering $67.1 billion in new debt during Q2 – a Q2 record."

2022 Credit Card Debt Study: Trends & Insights Credit Card Debt StudyAlina Comoreanu, Senior ResearcherSep 12, 2022Alina Comoreanu, Senior Researcher Sep 12, 2022 U.S. consumers are back to bad habits when it comes to credit card debt. Following a record-setting reduction in 2020, consumers added a total of $86.2 billion in new credit card debt....

Happy New Year to my ZipDebt clients and debt relief colleagues!

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