American households are drowning in debt like never before. Total credit card balances have soared past $1.21 trillion nationally, while the average household carries over $6,000 in revolving debt.

"Debt relief" is a broad term, and it can refer to everything from negotiating with your creditors on lower rates and fees to enrolling in a structured debt management program. Each option promises ...

Many Americans are deep in the red. In fact, household debt hit $18.59 trillion in the third quarter of 2025, according to the Federal Reserve Bank of New York. As people find themselves drowning in ...

Angelica Leicht is the senior editor for the Managing Your Money section for CBSNews.com, where she writes and edits articles on a range of personal finance topics. Angelica previously held editing ...

Are debt relief programs legit? Yes. Debt relief, aka debt settlement or debt resolution, is a legitimate industry that can be helpful to people experiencing certain financial difficulties. However, ...

While headlines focus on inflation, market instability, and job growth, another crisis has been quietly unfolding: student loan debt. As of April 2025, roughly 5.8 million federal student loan ...

Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. Vikki Velasquez is a researcher and writer who has managed, coordinated, and directed ...