According to a new study by Bankrate, 61% of people with credit card debt have been holding it for at least a year — up from 53% in late 2024.

Former Mayor Lori Lightfoot was served at her Chicago home in October with a lawsuit from JPMorgan Chase Bank for allegedly failing to pay about $11,078 in bills.

Lightfoot, 63, who in 2023 became the first Chicago mayor not re-elected in 40 years, was served in October by JPMorgan Chase Bank at her $900,000 home for failing to pay around $11,078 in credit card bills, according to a legal complaint viewed by the Chicago Tribune.

Nearly half of Americans with a credit card carry a balance, 22% of which say they don’t think will ever be paid off, according to a new Bankrate survey. Sixty-one percent of Americans who have

Paley said high rates make it difficult for people to make progress on paying down balances, especially when interest compounds month after month.

Credit card debt is an embarrassment to many Americans. It is especially embarrassing, apparently, to people who earn a lot.

For many people carrying high-interest debt, debt consolidation is often the first strategy they consider. This may involve a personal loan or a Home Equity Line of Credit (HELOC) that consolidates multiple credit card balances into a single payment at a lower interest rate, helping you get rid of your debt faster.

A fair credit card debt settlement is typically somewhere between 50% and 70% of your outstanding balance, though settlements can range anywhere from 30% to 80% depending on various factors. If you owe $10,000, for example, you might negotiate to pay between $5,000 and $7,000 to settle the account in full.

Retired and in credit card debt? Here's what you can do. Getting out of credit card debt may not be a speedy process, but even chipping away at it will help you save money. Debt consolidation refers to taking out a single lower-interest loan to pay off existing high-interest debt.