KENNEWICK, Wash. -- You hear the stories all the time about record numbers of people in debt and out of work. Now a study tracking consumer spending shows a huge increase in credit card debt.
A survey by consumer study group cardhub.com found that debt from credit cards is expected to increase to $64 billion dollars by the end of 2011.
That's a $10 billion dollar increase from 2010. Credit counselor Laurie Tuffords says a lot of that debt isn't on big ticket items, "they're apt to put things that they normally wouldn't charge on their credit card and that's where a lot of the spending can be coming from is things like gas and meals and groceries."
Tufford says she expects to be flooded with people after the new year when their bills come in. But points out consumers would be better off coming in before the holidays to get help in organizing their spending.