Debt is getting harder to manage, and more Americans are turning to credit counseling and debt management for help. But increasingly, the customer seeking that help is younger.
Gen Z adults ages 18 to 29 still make up a relatively small share of debt management clients — 16% of the client base at Money Management International (MMI), one of the country’s largest nonprofit credit counseling agencies. But they’re the fastest-growing group. Over the past year, MMI has seen a 35% increase in Gen Z clients, while their average unsecured debt balance has climbed 12% since 2025, to $22,848.
“It’s getting worse, unfortunately,” Ted Rossman, principal consumer finance analyst at MMI, tells CNBC Select. “It’s always true that younger people have…