Many people in Texas may feel like the days of the Great Recession are long gone, and they may be right. After all, it sounds like the economy is humming along. Unemployment is down, wages are up slightly and consumers appear to be generally optimistic. Despite that perception, however, many individuals, are still struggling to get by.
In fact, a recent study found that consumer debt continues to rise to historic levels. According to reports, this debt level has risen to $13.7 trillion, spurred on by $10 trillion in mortgage debt and $1.5 trillion in student loan debt. Other personal debts contribute to this huge burden, too, including medical debt and credit card debt.