A growing number of Americans are finding it difficult to pay their bills, fueling widespread financial stress, anxiety, and in some cases, despair.
“Debt is no longer a background concern, but a daily struggle for many families,” said Bruce McClary, a vice president at the nonprofit National Foundation for Credit Counseling (NFCC). “People are having to make some really tough decisions: Should they buy certain types of groceries or get their medication? Should they pay one bill on time and let another one slide?”
Many families living paycheck to paycheck rely on credit cards to make ends meet have balances they can’t repay.
Nearly half (47 percent) of all cardholders carry debt from month to month, paying an average interest…