Still Stressed About Debt

Americans are paying down their debt, but that hasn’t eased their stress.  Some 46 percent of American adults say they are stressed about their debts, according to a new Associated Press-GfK survey.  That’s about the same as last year.  Those feeling the most stress are women, married couples, people age 30-44, and the poor.

Key steps for ditching your debt include: stop going any further into debt (if you have credit card debt, stop using your cards); “fix” your payments (note your minimum required payment this month and, at very least, keep paying that amount every month even though your credit card company will likely ask you for a little less each month); and ideally, pay more than the fixed minimum.  You can use this calculator to determine when you’ll be out of debt under various repayment scenarios.


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