The Federal Reserve Board reported a 1.2% year-over-year decrease in August in revolving credit, which is a line of credit you can borrow against and pay over time. The same measure saw a 0.4% decrease in the June report, but there haven't been any other declines since 2020.

A $30,000 debt balance can be debilitating for your finances. Here's how much a forgiveness plan can reduce it by.

There are two popular approaches to paying off debt: the avalanche method and the snowball method.

Consolidating credit card debt could help you get a lower interest rate and potentially pay off your debt faster. Learn how to consolidate credit card debt here.

I’m 71 years old and have a painful $75K in credit card debt. Should I take a chunk from my nest egg or use the equity in my home to pay it off? Credit card debt can be crippling — especially with the average interest rate sitting at 21.76%.

Are you afraid that using a rewards credit card will result in you going into debt? Here's how to earn rewards the right way.

Ultimately, there are a lot of ways to pay off credit card debt — even $50,000 or more of it. If you’re facing credit card hardship, use a tool like Credible to explore your options. A balance transfer card or a personal loan for credit card consolidation may be able to help.

To effectively manage debt, individuals should develop a budget, prioritize payments, and explore consolidation options. Proactive financial management is essential to prevent excessive debt and ensure long-term financial stability.

Many credit cards charge interest rates of 20% or higher. Check out the best strategies to follow and never pay interest on your credit card.