SOURCE: Golden State Law Group

Golden State Law Group

June 14, 2012 03:00 ET

The San Diego Bankruptcy Lawyers at Golden State Law Group Offer Free Initial Consultation to Older Consumers Carrying Large Amounts of Debt

The San Diego Bankruptcy Lawyers at the Law Firm of the Golden State Law Group, Whose Web Site URL Can Be Found at, Hereby Announce That the Firm Is Offering a Free Initial Consultation to Area Consumers in the Wake of the Report That Older American Consumers Are Carrying More Debt Than at Any Point During the Country's History; Consumers Are Encouraged to Contact the San Diego Bankruptcy Attorneys at the Firm to Schedule That Consultation If They Are Experiencing Financial Problems

SAN DIEGO, CA--(Marketwire - Jun 14, 2012) - The San Diego bankruptcy lawyers at the Golden State Law Group, a law firm dedicated to helping consumers and businesses work through their financial problems, hereby announces that the firm is offering a free initial consultation to consumers after a report was released that revealed that older Americans are carrying more debt than they have at any point in the history of the United States.

The Federal Reserve Bank of New York revealed that between the years of 1992 and 2007, the percentage of households of people in their mid-50s and older with housing and consumer debt rose from 53.8 percent to 63 percent. People between the ages of 55 and 64 had an even higher percentage, with 81.7 percent of them carrying some sort of debt. The average overall debt for these 55-and-older households more than doubled to an average of $70,370 during this timeframe. The average amount of credit card debt carried by households aged 55 and older was more than $10,000.00.

Finally, the study included the fact that American adults 50 years old and older owe a total of 17 percent of the nation's $870 billion in student-loan debt. Much of this debt, according to the bank, was being carried by people who had co-signed on student loans so that their children could attend college or some other form of post-secondary education. The San Diego bankruptcy lawyers at the Golden State Law Group advise those who are experiencing financial trouble because of these or other debts to contact the firm to schedule a free initial consultation so that their financial situations can be thoroughly reviewed.

About the Golden State Law Group

The Golden State Law Group is a law firm in San Diego, California that's comprised of a team of San Diego bankruptcy attorneys who provide legal help to consumers. Specifically, the attorneys at the firm provide help to consumers in the legal areas of consumer bankruptcy, tax debt issues and personal injury cases.

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