After 10 years of marriage, a wife discovers her husband’s $50,000 credit card debt. The average American carries $7,321 in credit card debt, and total US credit card debt is $1.182 trillion. Interest rates have nearly doubled to 24.33% in 10 years. Pay off high-interest debt quickly to avoid financial strain.

Consider using a HELOC to consolidate debt and save on interest. Credit counseling is an option for creating a repayment plan. Have open conversations about spending habits. Different states have varying laws regarding spousal debt responsibility. Consult a financial advisor to understand your options and protect your assets.

Financial responsibilities in marriage can be complex and vary by state. Consult a financial advisor for personalized guidance. Wealthy individuals prioritize financial advisors for managing their money effectively. Sign up for the Moneywise newsletter for actionable finance tips and news. This article is for informational purposes only and does not constitute financial advice.

Read more at Yahoo Finance: I’ve been married 10 years and just found out my husband has been hiding $50K in credit card debt