As of 2017, Americans’ total revolving debt (typically summarized as credit card debt) was estimated to be over $1 trillion dollars. It's a vicious cycle and trust me when I say, credit card companies know what they are doing. With a debt management program you pay off all of your debt with reduced interest rates, and a guarantee of being debt free in three to five years. With debt relief (or settlement), you work with a program to negotiate a lower debt, while making monthly payments to accumulate a pay-off amount. Balance Transfers:If you have high interest debt, balance transfers can be a great option.

Source: Forbes March 19, 2018 19:30 UTC