Key Points / Article Highlights:
- Defaults Surge: Credit card defaults hit their highest levels since 2010, with $46 billion in unpaid balances in 2024.
- Debt Burden: Rising interest rates and $1 trillion in debt are straining lower-income households.
- Economic Risks: Defaults threaten consumer spending and may tighten access to credit.
- Get Help: Thomas Law, PLLC in Scottsdale offers expert bankruptcy
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