American households are drowning in debt like never before. Total credit card balances have soared past $1.21 trillion nationally, while the average household carries over $6,000 in revolving debt.

The best way to pay off debt depends on what you owe. Explore strategies like the debt snowball, debt consolidation and debt ...

Chapter 7 bankruptcy offers relief from your debt, but the limitations of this approach can impact your finances.

Many Americans are deep in the red. In fact, household debt hit $18.59 trillion in the third quarter of 2025, according to the Federal Reserve Bank of New York. As people find themselves drowning in ...

Are debt relief programs legit? Yes. Debt relief, aka debt settlement or debt resolution, is a legitimate industry that can be helpful to people experiencing certain financial difficulties. However, ...

When Whitney Catalano filed for Chapter 7 bankruptcy in 2022, she was self-employed, living in an apartment she couldn’t afford and carrying $60,000 in credit card and personal loan debt. For her, ...

Angelica Leicht is the senior editor for the Managing Your Money section for CBSNews.com, where she writes and edits articles on a range of personal finance topics. Angelica previously held editing ...