While most people carry some debt, too much can be overwhelming and feel like a constant cloud hanging over you. According to the Federal Reserve, household debt balances reached $18.8 trillion in the fourth quarter of 2025 - increasing by $191 billion.
Additionally, mortgage balances grew by $98 billion to $13.17 trillion; credit card balances rose by $44 billion to $1.28 trillion; auto loan balances increased by $12 billion; and student loan balances rose by $11 billion to $1.66 trillion.
If every day feels financially hard to get through, here are five ways to gauge whether you should consider getting professional help with your debt:
Missing or Late Payments
Being late on a payment can hurt your credit, but missing payments entirely is a clear sign it’s time to seek help. Late and missed payments often come with penalties and added interest, making it even harder to catch up. If you’re falling behind, connecting with a certified credit counseling agency can help you create a plan and start moving back toward financial stability.
You’re Only Able to Make the Minimum Payment
It’s easy to get in over your head with credit card debt, especially with interest rates continually being high. Making the minimum payment is a must to stay in good standing. However, if that’s all you're doing, it’s going to take a long time before you pay off your cards, and you’ll be paying more in interest over time.
You Don’t Have an Emergency Fund
Building savings is essential, not just to help you make progress on paying down debt, but to protect your future. An emergency fund provides a financial cushion if the unexpected happens, and it’s a key part of a healthy, sustainable budget.
You’re Sick of Dealing With Creditors
When you get that letter in the mail or a phone call from a creditor about money you owe but haven’t paid, it can cause a lot of stress. Working with a credit counselor can help put a stop to the calls as you work on recovering your financial health.
You’re Considering Bankruptcy
Bankruptcy can feel like the only option, but it’s important to understand the long-term impact: It can remain on your credit report for seven to 10 years and may lower your score by as much as 200 points, significantly affecting your financial standing.
Before you declare bankruptcy, talk to a credit counselor. They can help you create a budget that works for you while helping you better understand your financial situation. They can also enroll you in a debt management plan, which is designed to help you pay off your debt in three to five years, lower your interest rates, and consolidate your credit cards into one affordable monthly payment—so you can regain financial control and security.