From Yahoo Finance: 2025-04-22 15:12:00

Credit card debt is on the rise as everyday expenses increase, with the average outstanding debt reaching $6,730 in 2024. Negotiating with creditors can help lower interest rates and fees, making it easier to manage debt. It’s essential to address the root causes of debt to ensure long-term financial stability.

If you’re struggling with credit card debt, negotiating with creditors can help lower interest rates and fees, making payments more manageable. Consider options like balance transfers or debt consolidation loans to reduce overall debt and create a plan for repayment. Taking proactive steps now can lead to a debt-free future.

In some cases, negotiating credit card debt may not be possible, but alternatives like balance transfers or debt consolidation loans can help lower payments and save money. Seeking help from a nonprofit credit counseling agency can also provide relief by negotiating with creditors on your behalf. It’s crucial to address the root causes of debt for long-term financial health.

Read more: Can I negotiate my credit card debt?