{"id":6876,"date":"2022-08-09T10:00:00","date_gmt":"2022-08-09T15:00:00","guid":{"rendered":"https:\/\/hoorfarlaw.com\/blog\/?p=6876"},"modified":"2022-08-08T16:59:20","modified_gmt":"2022-08-08T21:59:20","slug":"americans-credit-card-debt-had-the-biggest-jump-in-more-than-two-decades","status":"publish","type":"post","link":"https:\/\/hoorfarlaw.com\/blog\/?p=6876","title":{"rendered":"Americans\u2019 Credit Card Debt Had the Biggest Jump in More than Two Decades"},"content":{"rendered":"<div class=\"wp-block-image\">\n<figure class=\"alignright size-large is-resized\"><a href=\"http:\/\/hoorfarlaw.com\/blog\/wp-content\/uploads\/2013\/01\/Visa-Mastercard-credit-cards1.jpg\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/hoorfarlaw.com\/blog\/wp-content\/uploads\/2013\/01\/Visa-Mastercard-credit-cards1-1024x768.jpg\" alt=\"\" class=\"wp-image-1043\" width=\"213\" height=\"159\" srcset=\"https:\/\/hoorfarlaw.com\/blog\/wp-content\/uploads\/2013\/01\/Visa-Mastercard-credit-cards1-1024x768.jpg 1024w, https:\/\/hoorfarlaw.com\/blog\/wp-content\/uploads\/2013\/01\/Visa-Mastercard-credit-cards1-300x225.jpg 300w, https:\/\/hoorfarlaw.com\/blog\/wp-content\/uploads\/2013\/01\/Visa-Mastercard-credit-cards1.jpg 1600w\" sizes=\"auto, (max-width: 213px) 100vw, 213px\" \/><\/a><\/figure><\/div>\n\n\n<p>Americans added  an additional $46 billion to their credit card debt during the second quarter amid the ongoing decades-high inflation. Balances saw the most severe increase in over 20 years, according to the Federal Reserve Bank of New York. Credit card debts grew 5.5% from the first to second quarters and 13% year-over-year. The report indicates that Americans are experiencing extreme financial hardship as talk of a potential recession persists and borrowing costs and debts continue to climb. Overall, American&#8217;s mortgage and non-mortgage debt increased by $312 billion during the second quarter. This marks the most substantial nominal increase since 2016, according to a New York Fed statement.<\/p>\n\n\n\n<p><strong>Struggling financially? Call our office at 816-524-4949 or <a href=\"https:\/\/calendly.com\/hoorfarlaw\">click here<\/a> to schedule a consultation and discuss your options.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Americans added an additional $46 billion to their credit card debt during the second quarter amid the ongoing decades-high inflation. Balances saw the most severe increase in over 20 years, according to the Federal Reserve Bank of New York. Credit &hellip; <a href=\"https:\/\/hoorfarlaw.com\/blog\/?p=6876\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1133],"tags":[],"class_list":["post-6876","post","type-post","status-publish","format-standard","hentry","category-debt"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/6876","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=6876"}],"version-history":[{"count":1,"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/6876\/revisions"}],"predecessor-version":[{"id":6877,"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/6876\/revisions\/6877"}],"wp:attachment":[{"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6876"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6876"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6876"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}