Consolidated Credit Survey Finds Americans Delay Seeking Debt Help Until Balances Reach Five Figures

FORT LAUDERDALE, Fla., June 1, 2026 /Noticias Newswire/ — As Americans continue facing record-high credit card balances, a new national survey from Consolidated Credit reveals that many consumers wait until their debt becomes overwhelming before seeking professional help. The findings highlight a growing disconnect between rising debt levels and consumer understanding of available debt relief solutions.

According to the survey of 1,005 U.S. adults, 78% of respondents currently carry credit card debt, with nearly 30% owing $10,000 or more. Despite these balances, many consumers still consider their debt “manageable,” which may contribute to delayed action and missed opportunities for early financial intervention. 

The survey comes at a time when total U.S. credit card debt has climbed to approximately $1.25 trillion, according to recent data from the Federal Reserve Bank of New York. The findings reinforce growing concerns about how Americans are coping with inflation, rising living costs, and increased reliance on credit cards for everyday expenses.

“Many consumers don’t seek help until they feel they’ve exhausted every other option,” said Roxanne Grant, NFCC Certified Credit Counselor at Consolidated Credit. “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.”

Roxanne Grant

NFCC Certified Credit Counselor at Consolidated Credit

The survey found that awareness of debt relief solutions varies significantly. 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. 

Additionally, many respondents expressed concerns about how debt relief programs could affect their credit scores, repayment timelines, and monthly costs. These misconceptions appear to contribute to hesitation, even though 70% of participants said they trust nonprofit credit counseling agencies. 

The survey also revealed that:

• About 1 in 5 respondents would delay seeking help until debt becomes a last resort situation. 
• 6% stated they would never seek professional debt assistance. 
• Only 39% said they had ever enrolled in a Debt Management Program. 
• 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 offered through nonprofit credit counseling agencies are designed to 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 are often significantly lower than consumers expect. 

The 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, financial education resources, or to speak with a certified credit counselor, visit Online counselors.

About Consolidated Credit

Consolidated Credit is one of the nation’s largest nonprofit financial education and counseling organizations. For more than 30 years, the organization has helped individuals and families overcome debt, improve financial literacy, and build long-term financial stability through counseling, education, and personalized debt solutions.