Symple Lending

  We spoke with Symple Lending, a highly respected team of debt consolidation specialists, about the growing segment of American consumers who woke up to the New Year shackled to debt from Christmases past. It wasn’t just the holiday spending ghost of 2022 that got them into this mess. In the past 12 to 18 months, prices have been rising but paychecks have lost their elasticity — their purchasing power has plummeted. And when a paycheck doesn’t allow the consumer to pay for everyday essentials like groceries, utilities, and gasoline, it spells trouble. Symple Lending reiterated that as inflation mercilessly grinds higher, it will continue to permeate every element of consumers’ lives; interest rates on credit cards, as well as revolving loan balances, will continue to skyrocket. In fact, consumer debt is accelerating at a pace that we haven’t seen in the U.S. in decades. Government data crunchers have been busy, counting every swipe of plastic. According to the Federal Reserve Bank of