As many of you might have guessed from the recent flurry, I'm a touch bored these days. There hasn't been a lot of project flow and I'm still waiting to hear back from some people on things that I've sent out. In any case, here's an interesting factoid that I just found.
I've been going through consumer bankruptcy filings recently and have been astounded by the levels of credit card debt that show up on some (but certainly not most) debtor's schedules of assets and liabilities. I've seen a bunch of cases with upwards of $60,000 of debt for a single debtor, a few with over $100,000, and the current record holder is $175,862.27. Yes, that's right, $175,862.27. That's larger than a lot of mortgages.Yowch.
This debt was incurred on 25 cards from 12 different lenders, all major national financial institutions. No less than 9 of the cards and $80744.16 of the debt were for one lender, Bank of America. The debtor's annual post-tax income is listed at around $85,000, and the debtor has been in her current job and industry for a while.