Newly Bankrupt Raking In Piles of Credit Offers

December 11, 2005 | | New York Times |
Americans owe $800 billion in credit card debt, more than triple the amount from 1989, and a 31 percent increase from five years ago, according to a recent report, "The Plastic Safety Net," by the Center for Responsible Lending, and Demos, a research group based in New York.
 
The study found that a third of low- and middle-income American households used credit cards for basic expenses - rent, groceries and utilities - in any 4 of the last 12 months.
 

Those with the worst credit card debt were people ages 50 to 64, who owed $9,124 on average, the study found.