New Report: Credit Card Debt in America

Posted by on November 18, 2005

Plastic Safety Net: The Reality Behind Credit Card Debt in America

Groundbreaking report reveals credit cards are the new safety net for low- and middle-income American households in this fragile U.S. economy. The report co-authored by Tamara Draut, Director of the Economic Opportunity Program at Demos, is entitled “The Plastic Safety Net: The Reality Behind Debt in America” was recently released by Demos and Center for Responsible Lending.

Released just five days before the new bankruptcy law took effect and effectively shut the door on financial recovery for millions, The Plastic Safety Net reveals the factors behind the explosion of credit card debt in American households over the last two decades and provides an inside look at credit card debt among America’s low- and-middle income households.

For key findings from a national survey of household debt click below.
Full Report http://www.demos.org/pub654.cfm
| Executive Summary http://www.demos.org/pubs/psn_execsummary.pdf
| Toplines http://www.demos.org/pubs/psn_toplines.pdf