GoingBankrupt.net Reveals Biggest Sources of Consumer Debt

GoingBankrupt.net shares the top causes of consumer debt.

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Whether you come to the point of bankruptcy because of credit card burdens or something different, we want to help you get back on track.

Denver, CO (PRWEB) February 19, 2014

Declaring bankruptcy is not something that anyone ever plans to do; it is nearly always a last resort, a decision that consumers must make after their debts rise and they find themselves in unexpectedly deep financial trouble. As for the factors that can cause debts to rise, there are many of them—and GoingBankrupt.net has revealed some of the biggest ones, in an eye-opening new poll.

“Our site exists as a resource for those who are going through the difficult, emotionally draining process of filing for bankruptcy,” comments Jason Kay, the founder and developer of GoingBankrupt.net. “As such, we wanted to get a better feel for some of the issues that our readers are going through. The findings of this new poll are most telling.”

The poll question asked by GoingBankrupt.net was simply this: “What is your biggest source of debt?” The response was overwhelmingly one-sided, with survey respondent after survey respondent saying that their biggest source of debt was their credit cards. In fact, more than half of the survey participants chose this option.

Among the rest, 29 percent said that student loans made up their largest source of debt, while 13 percent of the survey respondents noted medical bills. Only 7 percent of the survey respondents chose the option for “Other.”

Kay says these results are revelatory. “While there are clearly many different ways in which consumer debts can mount, the big takeaway from this is that credit cards are the worst offenders—that they make consumer debt problems far more severe, and drive many to the point of bankruptcy,” he notes.

For those who are driven to this point, GoingBankrupt.net seeks to provide some helpful tools and resources, including a vast library of articles that offer tips for navigating the filing process and then for rebuilding finances. “Whether you come to the point of bankruptcy because of credit card burdens or something different, we want to help you get back on track,” Kay concludes.

The site is accessible at http://www.goingbankrupt.net.


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