(InvestigateTV) — More Americans are trying to dig out of credit card debt by rolling balances into personal loans.
Americans owe $277 billion in personal loan debt as of the first quarter of 2026, up $1 billion from the previous quarter, according to a new analysis by LendingTree.
Ted Rossman, with the nonprofit credit counseling agency Money Management International, said a personal loan can help, but only if spending habits change alongside it.
“Unfortunately, a lot of people end up running the card balances right back up,” Rossman said. “And that’s really where we need to address the root behavior as well. Not to shame people for being in debt — nobody wants to be in debt — but you don’t want to try to borrow your way…