We have probably all heard that credit card debt can be a vicious cycle. In order to build credit, people need to open a line of credit with a credit card. However, any missed or late payments can then hurt your credit and you end up with late fees and skyrocketing interest rates. This cycle of trying to build credit and deal with paying off the debt can no doubt be very stressful for people to handle.

But are there some folks who are more likely to wind up in this situation than others? According to a new survey that investigated credit card debt among college students, there are some kids who are at a higher risk of accumulating this type of debt, and it has little to do with income.

The results of the survey indicate that students who have parents who fight about money were more likely to have multiple credit cards and, on average, carry more than $500 in debt over other students. The online survey of 400 students showed that about one-third of the students carry multiple credit cards. Later in the survey, many of these same students responded that their parents frequently argued about finances.

Although the survey was relatively small, it brings up an important issue. Children who are around parents who bicker about money often may not feel a sense of understanding and stability when it comes to developing their own budgetary skills. Additionally, when parents are stressed out about finances and angry with each other over mounting debt, these emotions may ultimately jeopardize a child’s support system when it comes to handling their own finances. Dealing with debt can be important for every family member’s future.

Credit card debt can affect any New Jersey family in these difficult economic times. It can be very important to work with an attorney who understands this and can help families develop a plan to reorganize and pay off debt. Making minimum payments on credit cards is not the best idea, and missing payments altogether can only perpetuate a cycle of debt.

For some families, bankruptcy is a possible solution because it can either wipe out the unsecured debt completely or gives them the opportunity to reorganize payment into a different plan. Either way, it can give people peace of mind that there is finally a light at the end of the tunnel.

Source: Business Insider, “One Indicator Of Massive Credit Card Debt IS How Often Your Parents Argue About Money,” Jill Krasny, Oct. 29, 2012