Americans really know how to overspend. Bankruptcies, mortgage delinquencies and credit card debt are all up, but some of that debt isn't their fault. Predatory lenders are the cause of many subprime defaults, and they're also hurting consumers in the wallet, too.

Here's how consumer debt is snowballing.

1. The American Bankruptcy Institute says that consumer bankruptcy filings increased over 28 percent in November, year over year.

2. The total number of November filings was down 5.5 percent from October.

3. Chapter 13 filings constituted 39.53 percent of November's cases, a slight increase over October. That's significant because Chapter 13 bankruptcies allow homeowners to say in their homes.

The Mortgage Bankers Association's third-quarter report says that the percentage of all mortgages starting the foreclosure process jumped to a record high of 0.78 percent. That surpassed the previous high of 0.65 percent set in the second quarter.

The delinquency rate (on loan payments 30 days or more past due) for all mortgages went up 5.59 percent in the third quarter -- the highest since 1986.

Adding to consumer pressures are credit card debt, which the Federal Reserve says consumer debt increased 5.25 percent in the third quarter. Right now, consumers are carrying about $2,200 in credit card debt.

And, some predatory lenders are making it worse.

A Senate subcommittee found that credit card companies are kicking some consumers while they're down, using credit scores as their excuse to raise interest rates, even if the consumer is paying their credit cards on time. The consumer doesn't know why their rates have jumped, only that it's harder to pay off the card. Suddenly, they can't afford their homes or their credit cards and the rates go up even more.

And that's the position some subprime mortgage holders found themselves in -- growing debt wherever they look.

Consumers share some blame for the current credit crisis, but predatory credit card lenders are also at fault.

Published: December 11, 2007

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Blanche is a renowned author of five real estate books. Her newest, Bubbles, Booms and Busts: Make Money In Any Real Estate Market, McGraw-Hill, was rave-reviewed by The New York Times. She was also selected from hundreds of real estate experts to contribute to Donald Trump's book, Trump: The Best Real Estate Advice I Ever Received: 100 Top Experts Share Their Strategies, Rutledge Hill Press, and is featured on page 68. Order Now Review - Honors In 2006, Blanche was selected among scores of candidates to author two consumer real estate guidebooks for the National Association of Realtors: The NAR Guide to Home Buying, and The NAR Guide to Home Selling, Wiley & Sons. She is currently planning two new books for the NAR and its members.       Known for her keen insight into real estate industry issues and for her ability to make complex subjects easy to understand, Blanche is a sought-after keynote and continuing education speaker. Real estate organizations from MLSs, to brokerages, to franchisors, to associations hire her to provide up-to-the-minute analysis of real estate industry news and advice on how to improve revenues. Her passionate delivery, peppered with stinging wit, is a huge hit with audiences and fans. Don Klein, CEO Greater Nashville Association of Realtors, Blanche Evans, Richard Courtney, president 2007, GRAR "The GNAR membership meeting last week featured Blanche Evans as the keynote speaker. Her comments and insights resonated extremely well with those in attendance and we have had many requests for copies of her PowerPoint Presentation. She was a terrific part of the membership meeting and convention program!" - Don Klein, CEO Greater Nashville Association of Realtors Coverage from WSMV, Nashville - 8-14-2007 That Interview Guy - Get Inside The Head Of Today's Generation 2007 AE Institute Session - To purchase 2006 AE Institute Session - Parts 1 2 3 4 5 6 7 8 9 HouseValues Mastermind call - Parts 1 2 Blanche's fireside chat with Jeremy Conaway, HAR - Click here. For more articles by Blanche, click here.