Reed Law Firm, P.A. - bankruptcy

Columbia: 803-807-2565

Florence: 843-536-0073

Emotional spending may lead to credit card debt in South Carolina

Strong emotions, whether they are excitement or stress, seem to drive Americans to overspend. Almost half the people in the country admit to emotional spending. If someone in South Carolina is low on cash, it is common for him or her to pull out the credit card and charge whatever is desired. This may make a person feel better until the credit card debt becomes overwhelming.

Most people agree that it is acceptable to go into debt under certain conditions. For example, making emergency purchases, covering medical costs and sustaining themselves when unemployed are valid reasons for using a credit card. Nevertheless, 87 percent of those surveyed said they would be embarrassed to accumulate credit card debt for reasons like traveling, impulse shopping and cash advances.

Consumer credit experts warn that credit card debt can quickly spiral until it becomes unmanageable. Reducing the balances on one's credit cards is recommended. Counselors suggest people begin by resisting the urge to charge more, then creating a payoff plan from the lowest balance to the highest. For some, it may be necessary to increase one's income or reduce one's spending until the debt is lowered.

For others in South Carolina, credit card debt may already be a mountain too high to climb. In those cases, the advice of a bankruptcy attorney may be the first step to regaining some peace of mind. Chapter 7 bankruptcy is often employed to discharge credit card debt and give someone a fresh financial start. An attorney will evaluate one's situation and help him or her decide the best option for dealing with debt.

Source:, "About half of consumers emotionally overspend, survey finds", Sarah D. Young, Jan. 31, 2017

No Comments

Leave a comment
Comment Information
Email Us For a Response

Contact Our Firm

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

Columbia Law Office
220 Stoneridge Drive, Suite 301
Columbia, SC 29210

Phone: 803-807-2565
Columbia Law Office Map

Florence Law Office
1807 West Evans Street, Suite B
Florence, SC 29501

Phone: 843-536-0073
Florence Law Office Map