Before choosing a strategy, you must define the severity of your debt:
If self-repayment is not feasible, consider these more formal paths: Credit card debt. What to do if you cannot pay - StepChange credit card debt
A thorough review of credit card debt requires assessing the total amount owed, understanding the long-term cost of interest, and choosing a structured repayment strategy. As of 2025, U.S. credit card debt has reached a record , with the average household balance exceeding $6,700 and interest rates averaging nearly 22% . 1. Critical Debt Assessment Before choosing a strategy, you must define the
: Focus on the debt with the highest interest rate (APR) first. This is the most efficient method mathematically, saving you the most money in total interest over time. 3. Debt Relief and Consolidation Options credit card debt has reached a record ,