People of any socioeconomic level in Kentucky might have credit card debts. This is not necessarily a problem unless people charge more than they can realistically pay back. Low-income people with no net worth rely on credit the most often, but affluent people also carry high balances, according to data analyzed by ValuePenguin.

Among households with zero or negative net worth, people owed an average of $10,307 on their credit cards. People at this income level need credit cards to get by because they have no resources. On the other end of the spectrum, households with net worth above $500,000 had the second highest credit card balances with an average of $8,139. Although people at this level had high balances, they tended to be in the best position to pay them off.

Across all segments of society, more households are carrying credit card debt. The Federal Reserve Bank reported that between 2013 and 2016 the number of people owing on their credit cards rose from 38.1 percent to 43.9 percent. At present, revolving debts nationwide have surpassed $1 trillion.

A job loss or medical emergency could create financial problems for a person with credit card debt. The inability to meet payment obligations could trigger higher interest rates and lawsuits from creditors. The advice of an attorney might help a person cope with these problems. An attorney could look at the person’s financial situation and determine if bankruptcy could be an option for relief. The representation of an attorney could enable a person to file complete and accurate financial disclosures with a court and stop creditor harassment.