You might be among many Americans struggling with increasing credit card balances as inflation and steep interest rates impact households nationwide. On Tuesday morning, the quarterly report on household debt and credit from the New York Federal Reserve Bank is expected to reflect that credit card debt for the last quarter in 2023 will eclipse the previous high of $1.08 trillion, according to LendingTree.com. Money Management Counselors Director Leslie Boden says more people are swimming in debt and looking for help.

Boden adds that the average credit card interest rate was between 12.99 and 19.99 once and has now risen to over 30 percent APR. That makes it even more difficult for consumers to make payments and even the minimum amount due.

If you need help getting out of or managing debt, Boden shares how you can reach out to Money Management Counselors in Sturgeon Bay for workshops and individualized plans.