Debt can build fast, even for people who were once financially stable.
That was the case for Ben James, who says the pandemic disrupted his self‑employment income and sent his finances spiraling.
“It’s pretty defeating,” he said.
The Philadelphia man said his debt quickly ballooned as he relied on credit cards to cover everyday expenses.
“I had about $30,000 in credit card debt,” he said. “I was starting to have stress dreams about finances, and I am not a person who stresses easily.”
With credit card interest rates topping 20%, he said it felt nearly impossible to make progress with only a small fraction of his monthly payment actually going toward his principal.
“I realized that there was no digging out of it,” he said. “I…