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Record Credit Card Debt With Neile Simon

Faith & Finance

Christian talk radio with Rob West

August 28, 2023

Credit card debt has surpassed $1 trillion for the first time, and is now at 1. 03 trillion. Household debt has also spiked by $2. 9 trillion since the end of 2019 before the pandemic, with credit card debt making up almost 1/3 of the average household debt. With interest rates now over 20%, it would take 17 years to pay off a $6,000 balance if only making minimum payments. To help get out of debt, people should stop using credit cards, get on a budget, and use the “snowball” method to pay off debts. Christian Credit Counselors offers debt management services that can help lower monthly payments and pay off debt 80% faster.

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