While the experts are saying the bursting of the credit bubble is contained to housing markets (oh yeah, and maybe student loans) word from the trenches is shining a completely different story:
In the Sacramento Bee, Sacramento bankruptcy attorney Wendy Dezzani is quoted as saying:
"For years, people were carrying a lot of credit card debt, but when housing values are dipping, you can't make the credit card payment or the house payments," Dezzani said. "From what I hear, people are using their credit cards for their house payments, and now they have problems with credit-card debt."
Source: http://www.sacbee.com/103/story/868932.html
Thank you!
Good to know.