What to know before choosing a debt relief strategy
Choosing a debt relief strategy requires careful consideration of various factors. With rising inflation and high credit card rates, many borrowers are exploring their options for managing debt. Understanding the type of debt, current financial stability, and potential impacts on credit scores are crucial steps in making an informed decision.
- ▪Many borrowers are struggling with high-rate credit card debt due to rising inflation.
- ▪Debt relief options vary and are not suitable for all types of debt.
- ▪It's important to assess your financial stability and how different strategies may affect your credit score.
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Sponsored MoneyWatch: Managing Your Money What to know before choosing a debt relief strategy We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms. .chip { background-image: url('/fly/bundles/cbsnewscore/images/chip-bgd/chip-bgd-moneywatch.jpg'); } By Angelica Leicht Angelica Leicht Senior Editor, Managing Your Money Angelica Leicht is the senior editor for the Managing Your Money section for CBSNews.com, where she writes and edits articles on a range of personal finance topics. Angelica previously held editing roles at The Simple Dollar, Interest, HousingWire and other financial publications.
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