Americans are carrying more credit card debt than ever, and with average credit card interest rates now topping 21%, even relatively small balances can quickly become a big drain on your finances.

We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms. While debt management plans are often confused with other types of debt ...

With a background in journalism and counseling, Penny Min blends analytical research with real-world insight to help readers make informed financial decisions. At Forbes Marketplace, she specializes ...

Debt management restructures your debt so you can pay it off. Debt settlement involves some amount of debt forgiveness. If you don't qualify for debt management, debt settlement might work for you.

Farmington Hiills-based GreenPath Financial Wellness sees many consumers who turned to credit cards to make ends meet once prices shot up.

After an initial evaluation, a counselor will advise you on the best course of action to tackle your debt, whether you need general personal finance advice, bankruptcy counseling or something else.

Angelica Leicht is the senior editor for the Managing Your Money section for CBSNews.com, where she writes and edits articles on a range of personal finance topics. Angelica previously held editing ...

Gauging the personal pain that's hitting those buried by credit card debt and other bills often amounts to absolute disbelief over today's incredibly high interest rates. The average rate on credit ...