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Record $1.23 Trillion Credit Card Debt Spurs Settlements

12/5/2025

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Summary

Story summary

Americans face a record $1.23 trillion in credit card debt, making debt settlement a potential option.
Creditors may accept about a 50% settlement, depending on financial hardship and debt age.
Settlements are likelier when the debt is overdue or sold to a collector, which may have more flexibility.
Some borrowers negotiate on their own, but a debt relief professional can improve the odds.
Realistic expectations are crucial in this process.

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Story summary

Americans face a record $1.23 trillion in credit card debt, making debt settlement a potential option.
Creditors may accept about a 50% settlement, depending on financial hardship and debt age.
Settlements are likelier when the debt is overdue or sold to a collector, which may have more flexibility.
Some borrowers negotiate on their own, but a debt relief professional can improve the odds.
Realistic expectations are crucial in this process.