Record Americans Seek Credit Help
A record number of Americans are seeking credit counseling and debt management plans, with nearly 15,000 new clients entering debt consolidation in the first half of 2026. The nationwide household debt has reached a historic high of $18.8 trillion, driven largely by rising living costs and inflation, which has increased consumer prices by about 27% since 2021. Many individuals, including small business owners and young adults, are overwhelmed by high credit card interest rates and mounting debts, leading them to explore debt consolidation and personal loans, though these strategies often require careful management to avoid further financial strain.
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