Why San Diegans Are Maxing Out Credit Cards
Until recently, credit was a way of life in America, where 60 percent of all people carried credit card debt. The average owed on credit cards is close to $9,000. But the financial crisis gripping t
Tom Fudge : America's current economic recession is the result of debt not being paid. Everyone has been living beyond their means, from investment bankers and mortgage brokers to the average citizen. When you look at the debt of the average person, the most immediate concern is paying off credit card debt.
Credit cards are wonderful things. They're convenient. They provide some financial insurance to the buyer. And you can use them for free. They're great things to have, IF you pay them off every month. And in these economic hard times that happening less and less.
We're going to take a look at how far in debt some people have gone in this country, through the use of credit cards.
Envision San Diego : Maxed Out , airs Thursday, December 18, 2008, at 8pm on KPBS TV, Channel 15, Cable 11.
- Joanne Faryon , reporter for KPBS's Envision San Diego series.
- Manuel Navarro , certified consumer credit counselor for Consumer Credit Counseling Service (CCCS) , the largest nonprofit credit counseling agency in the United States.