Credit card debt among U.S. consumers is on the rise, according to a report issued by credit card comparison website Card Hub.

Card Hub recently released a study showing that credit card issuers are paying increasing attention to consumers who already have existing debt. Data, taken from a study of more than 1,000 credit card offers during the third and fourth quarters of 2015, reportedly shows that credit card providers are intent on targeting consumers with debt, as opposed to focusing on debt-free consumers who plan to incur new debt.

Interestingly, debt accumulation among U.S. consumers actually decreased in 2015 – a trend that makes sense in the context of declining unemployment rates. At the same time, however, delinquency rates rose, suggesting that something beyond market forces may have been responsible for the surge in credit card debt.

The most recent Credit Card Landscape report issued by Card Hub shows that credit card providers are continuing to raise both interest rates and cash advance fees for customers, making it harder and harder for U.S. credit card holders to avoid accumulating debt. Since the end of 2012, fees for cash advances on credit cards have gone up by nearly 64 percent.

Worse yet, financial experts believe that the Federal Reserve’s recent decision to finally raise the interest rate will have a detrimental effect on consumers and result in more than $1 billion in additional credit card debt payments in 2016.

In recent years, credit card companies have made it easier and easier for consumers to rack up debt without really noticing. Ultimately, of course, the credit card debt becomes impossible to ignore. One of the major factors anyone has to consider when deciding whether to declare bankruptcy is the existence of crippling debt, particularly credit card debt, and the likelihood of ever being able to get out from underneath the debt.

For additional information on how credit card companies tend to focus on customers with debt, read the ACA International article entitled, “Study: Credit Card Issuers Continue to Focus on Consumers with Existing Debt.”

If you are seeking debt relief, filing for bankruptcy may be an option worth exploring. Joel R. Spivack is an experienced real estate attorney who can help you get back on the right financial path. Contact us today to schedule a free consultation.