By exploring your options now, you can move from feeling trapped by your debt to taking back control of your finances. Megaflopp/Getty Images

Americans are carrying record amounts of debt , and for many, it's becoming impossible to keep up. Total household debt reached $18.39 trillion in the second quarter of 2025, with credit card balances alone topping $1.21 trillion. Average interest rates on those balances are now over 21% , making the payments hard to sustain for many borrowers. When you add in rising costs for everyday essentials, it's clear why more people are falling behind or defaulting on their debt .

So, if you're having to do the math to determine whether you can afford rent or groceries after making the payments on your debt, you're certainly not the only one i

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