If you’re struggling with credit card debt, you’re not alone.
Earlier this year, the American credit card balance set a record of more than $1.2 trillion, according to the Federal Reserve Bank of New York.
The average credit card debt for a Minnesotan ranges between $5,100 and $7,900, according to multiple sources.
“It just can be overwhelming if you don’t chip away at it,” said Peter Eckerline, wealth management advisor and former managing director at Merrill Lynch.
Is credit card forgiveness a good option in this economy?
“Basically, you’re going to your creditors and saying, ‘Hey I want to settle with you for some amount less than what I owe,’” Eckerline said.
But Eckerline says…