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Perfect Storm for Debt With Neile SimonA perfect storm may be coming that could make this Christmas shopping season difficult for folks with student loan debt. Neile Simon joins us today with the details today on Faith and Finance.Neile Simon is a Certified Credit Counselor with Christian Credit Counselors, an underwriter of this program. Neile has been following events that affect consumer debt and she’s here today with another report.CONSUMER DEBT AND ITS IMPACTS:Neile explains the resumption of student loan payments in October after a three-year forbearance, highlighting the collective federal student loan debt at 1.7 trillion affecting 14 million Americans.Monthly payments averaging $503 are expected due to inflation, contributing to a monthly outflow of seven to eight billion dollars towards student loan debt.INFLATION AND CONSUMER SPENDING:Despite a high annual inflation rate of 8.5%, consumer spending has increased by 4.9% compared to last year.Neile emphasizes the trend of people living beyond their m