Consolidated Credit released a national survey on June 1, 2026, revealing that many Americans wait until their credit card debt exceeds $10,000 before seeking professional help. The survey of 1,005 U.S. adults found that 78% carry credit card debt, with nearly 30% owing $10,000 or more. Despite these high balances, many consumers consider their debt manageable, leading to delayed action and missed opportunities for early intervention.
The findings come as total U.S. credit card debt has climbed to approximately $1.25 trillion, according to the Federal Reserve Bank of New York. The survey underscores concerns about how Americans are coping with inflation and rising living costs, relying more on credit cards for everyday expenses. Roxanne Grant, NFCC Certified Credit Counselor at Consolidated Credit, stated, "The reality is that the earlier someone addresses their debt, the more options they often have available to regain control and avoid long-term financial damage."
The survey highlighted significant gaps in awareness of debt relief solutions. While debt consolidation loans and bankruptcy are widely recognized, nearly half of respondents were unaware that nonprofit organizations offer Debt Management Programs (DMPs), and only 37% reported familiarity with DMPs overall. Many respondents also expressed concerns about how debt relief programs could affect their credit scores, repayment timelines, and monthly costs, contributing to hesitation despite 70% saying they trust nonprofit credit counseling agencies.
Additional survey findings include: about 1 in 5 respondents would delay seeking help until debt becomes a last resort, 6% would never seek professional debt assistance, and only 39% had ever enrolled in a DMP. Many consumers begin by researching solutions online or consulting with family and friends before contacting a credit counselor from a non-profit agency. Debt Management Programs through nonprofit credit counseling agencies help consumers consolidate unsecured debt into one affordable monthly payment while potentially reducing interest rates and fees. Consolidated Credit notes that program fees are capped nationwide and often lower than expected.
These findings suggest that while financial stress continues to rise, greater consumer education may be necessary to help Americans understand when and how to seek trustworthy guidance before debt reaches crisis levels. For more information about debt management solutions, visit Online counselors.
