Debt is hard to manager, and for some, it might be getting even tougher. Experts say the Fed rate hike last week was necessary to fight inflation, but if you carry a monthly credit card balance, it’s about to become even more costly. It’s coming at a time when a record number of Americans are seeking help with credit card and personal loan debt.
Enrollment in debt management programs has reached a 10-year high as household expenses continue to mount across the country. Consumers ages 30 to 61 seeking debt relief carry an average of $43,000 to $53,000 in personal loans and credit card debt.
Ted Rossman, a consumer financial analyst with the non-profit credit counseling organization Money Management…