AURORA, Colo. — It’s not like Randy Prade of Aurora was irresponsible with his money. His credit card debt went up after his TV repair business went under.
“We had 25 employees, and we chose to maintain their payroll much longer than we should have,” said Prade. “It’s a big, heavy weight when you go to sleep at night. You’re worried about how you’re going to be able to make ends meet.”
He’s far from alone. A recent Lending Tree survey ranks Colorado 7thin the country for credit card debt.
“As inflation’s been a problem in recent years, people have used their credit cards as a bridge, as an extension of their income to get by,” said Thomas Nitzsche, a financial educator with the nonprofit Money Management International (MMI).
Debt…
