Together, higher debt balances and higher APRs create a one-two punch that further exacerbates thecredit card debt crisis.
Federal student loan repaymentmay be contributing to credit card users' distress.
If your debts feel insurmountable, consider adebt consolidation loanor debt settlement options.
To prevent debt in the future, considertreating your credit card like a debit cardto avoid overspending.
“Develop a repayment strategy.
Look for options to consolidate,” Elliot said.
“There are lots of educational resources out there to help you get to a better place.”
