The Wall Street Journal recently shared the story of a couple who is struggling because the pandemic has upended their jobs and income. To make matters worse, they’re dealing with a massive amount of consumer debt.
“The Denton, Texas, couple pay $4,400 a month on their mortgage, four car loans and leases, and student debt, Ms. Scott-White said. Minimum required monthly credit-card payments total about $700. The debt was manageable pre-pandemic, she said.
“She deferred lease payments on her Infiniti QX60 for three months and started paying again with unemployment benefits. Her husband traded in his Ford F-150 in August for a lower-cost car and reduced his original monthly…