Rick Eggleton, SVP at IDIQ
The Federal Reserve reported in the first quarter of 2026 that Americans held $13.19 trillion in mortgage debt, $1.25 trillion in credit card debt, $1.69 trillion in auto debt, $1.66 trillion in student debt, $446 billion in HELOC debt, and $562 billion in other debt.
For millions of Americans, debt relief begins with improving their credit score. A stronger credit profile can help consumers qualify for better loan terms and lower interest rates, making it easier to pay down debt and build long-term financial health.
Rick Eggleton, who specializes in consumer finance at IdentityIQ, a brand of financial intelligence company IDIQ, says many consumers don’t realize how quickly their…