Credit card debt is a topic that comes up a bit more often these days at Mae’s Beauty Salon in San Diego. “It’s been a tough year financially for all of us, and we can see our clients feeling the same way,” said Crystal Badu, who helps her mother at the family’s hair salon. Badu said that customers have shared that they’re dealing with tighter budgets which, by extension, hits the salon’s bottom line — and their family’s. “We can’t go on vacation, you know,” Badu said. “You have to be very mindful about even eating out, how much you drive. Stuff like that really matters.” It’s the high interest rates credit cards charge that Badu is trying to avoid. However, sometimes they’re inevitable. “Ah, man, it ruins my day — it just ruins my day,” Badu said with a laugh. Crystal Badu hates relying on credit cards to keep up with bills and other expenses. Badu is not alone. According to the Federal Reserve Bank of New York, Americans owe a record $1.21 trillion on their credit cards, an increase of 8% from a year ago. TransUnion reports the average consumer’s credit card balance is now $6,580. Many families may be feeling the pressure of credit-card payments for the first time. Others possibly like never before. Either way, a growing credit-card bill becomes more daunting with each passing month. “It isn’t the end of the world,” said Rod Griffin, senior director of consumer education and advocacy core experience at Experian. “Things happen and in time you can recover.” Griffin admitted his optimistic message is easier said than done but reiterated it can be done, starting by taking the first and most important step. Arm yourself with information: Check your credit report to find out exactly how much you owe, to whom, and the interest rate of each of your balances Set up a plan and stick to it: Determine how much more you can pay each month on top of the minimum required payments. Pay that extra amount of the balance on the card with the highest interest rate. Stick to the same payment plan until all of your debt is gone Communicate with lenders: If you can’t come up with a payment plan, you can reach out to the lender for some breathing room. Griffin said few people know many lenders are willing to work with their borrowers “They want to be paid, and they may have programs to help you do that,” Griffin said. “So they may have deferral programs or forbearance, or hardship payment plans that can help you get through a difficult time. So talk to them early, let them know what’s going on and work with them, because they want to work with you. They would rather you be able to pay them than not.” The Experian expert also said consumers should consider consolidating their debts into a loan with a lower interest rate than their current balances or contacting a credit counseling service for help. However, make sure to know of any fees before committing to either of these two options.  Griffin also warned against jumping on offers that sound too good to be true. “The quick-fix offer sounds fantastic,” Griffin said. “It’s extremely tempting, and what we find is that it tends to separate people from their hard-earned money and not help them in the end.” And that’s the last thing anyone struggling with credit-card debt needs. The National Foundation for Credit Counseling is a nonprofit that can help develop a debt management plan at little or no cost depending on your income by connecting you to one of their certified counselors. ...read more read less