article thumbnail

Credit card debt is surging at a record-high rate

Collection Industry News

Credit counseling agencies offer free or low-cost debt relief services to consumers who are struggling to manage their finances. A credit counselor may help you by: Analyzing your income, expenses and outstanding debts to create a budget. Debt consolidation loans are another popular way to pay off credit card balances.

article thumbnail

Seven Ways to Get Out of Debt in 2022

Better Credit Blog

Some examples of debt are mortgages, credit card dues, and personal loans. Although accruing lots of debt isn’t ideal, it may sometimes be unavoidable, such as mortgage payments or student loans. They may still be responsible for paying a portion of the loan. Don't share personal or financial information.