I wonder if those people have considered buying less stuff.

Some of it's not stuff. I've known people who had to charge medical stuff because of our not-so-great non-Canadian medical system. Oh, did they get hurt (pun).

Still, I paid off all mine and then the car payment, and then the mortgage. Interesting that my demographic, (mature singles) has the highest bankruptcy rate of 15 percent.

Darn. I was hoping you'd keep the name on the envelope since it belongs to someone who faked that they lived at my address. I want them to get some kind of comeuppance for their perjury...

Well then the obvious answer is to stop frigging maxing your cards out on stupid things.

Sadly, people simply need to live within their means. To do that there most likely will be more than a bit of self sacrifice and hardship. Life is tough so one has to be tough as well.

@EvilTapioca: Just because you use your cc to buy stupid things doesn't mean everyone does. During financially difficult times just coming up with enough to buy a loaf of bread can be difficult (without a cc). Try being unemployed for a few years and see what it does to your debt. It can happen to any of us, unless you work in a consistently stable industry that has an abundance of job openings (fast food, government, etc).

Well then the obvious answer is to stop frigging maxing your cards out on stupid things.

EvilTapioca, please pick up the white courtesy phone, Post #2 is on the line.

I am working my out of cc debt, what got me in the hole? A root canal, transmission repair and medical copay - those three items were roughly 3K in total.

I try to be conservative and only purchase what is needed, but cc debt can happen very easily. I am now trying to balance paying off and building up my savings so the next time one of these things comes up I can pay cash. Mortgage, cars, home repairs, kids - gets tough out here some times.

It's not necessarily buying stuff, although that is part of it, but also the refusal to live without television, cell phones, and DSL.

@EtherealStrife: "Try being unemployed for a few years and see what it does to your debt."

No, thanks. I'd rather not. I was unemployed for about two months before I decided it wasn't for me. That's when I bit the bullet and started waiting tables. I kept looking for a job working with computers, sitting at a desk, doing the whole Dilbert/cubicle thing (and eventually found it) but at least while I was looking during the day, I was still pulling money in at night.

Staying unemployeed for years just doesn't seem like a good idea at all.

Just last month I made the final payment to my original 25k debt, what got me there? Lawyer and US immigration fees (doing the whole becoming legal in the usa is friggin expensive!) Atleast I kept my intrest to 0%
but now I am debt free and staying that way!

While this report is quite interesting, one thing I have not heard mentioned is that the primary motive behind surveys just like these is to find a way to get you to give them more money.

Yeah lesse, young family, more than $3,000 in credit card debt, send them the 'day-to-day expenses' brochure. And, since we know they'll be in debt for a looong time make the teaser rate especially low, they'll bite.