Bride-To-Be’s Hidden Debt Sparks Shocking Twist in Prenup Talk—What She Tried to Hide Will Shock You
The contract is all about clarity and transparency regarding what happens to the couple’s money and assets if they get divorced, if one (or both) of them is unfaithful, or if one of them passes away.
Prenups are meant to be fair and voluntary. It’s important that you thoroughly read any contract before signing it and ask for clarification if any clauses sound ambiguous or go against your best interests. You may want your lawyer to take a look at the document as well.
According to Statista, credit card debt in the United States grew “at a fast pace” between 2021 and 2024. In 2024, the penetration rate of credit cards in the US was a whopping 67%. Credit cards are so popular in the country because of a culture of convenience, reward schemes, and consumers preferring postponed payments.
CNN reports that Americans are “having a harder time managing rising debt burdens.” In the fourth quarter of 2024, overall debt burdens (mortgages, auto loans, credit cards, home equity lines of credit, student loans) rose by 0.5% to $18.04 trillion (yes, ‘trillion’).
Credit card balances rose 7.3% from the fourth quarter of last year to $1.2 trillion. “Higher levels of household debt are to be expected as they can reflect factors such as population growth, strong economic conditions, holiday-related spending, and the rise of e-commerce. Plus, prices are significantly higher as inflation has run hot for nearly four years,” CNN writes.
Specifically, people in the US are having more difficulty dealing with credit card and auto loan debt. As per the Federal Reserve Bank of Philadelphia, the share of credit card accounts where people made just the minimum payment rose to a 12-year high during the third quarter of 2024.
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