Dealing with debt can feel overwhelming, especially when interest rates are high and balances don’t seem to move.
That’s why In Your Corner is breaking the process down into a simple checklist with practical steps financial experts say can help you regain control and avoid mistakes that often make debt worse.
Step 1: Know exactly how much debt you have
One of the most common mistakes experts see is not fully understanding the total picture, according to Thomas Nitzsche with Money Management International, one of the nation’s largest nonprofit credit counseling agencies.
Avoiding bills may feel easier in the moment, but interest compounds, fees add up and accounts can quietly move toward collections, he said. The longer the numbers go…