And when do the bankruptcies start for folks who are getting their interest rates jacked up from trying to survive using credit? You know it’s coming. House of branDUHn cards getting shaky.
Credit card debt, as a national average, is already maxed out; in fact it was maxed out last month.
Generally people can coast another 60-90 days if they want to once their credit is kaput, they just don’t pay bills and make excuses/dodge the creditors. But not much longer than that usually.