Financial distress is hitting record levels as 15,000 new debt management plan clients signed up this year — the highest since 2017 — with financial counseling up 143% since 2021. Household debt has soared to an all-time high of $18.8 trillion, personal savings at a 27-year low, and inflation eating into everyday budgets. Real stories like Miriam Perez’s — drowning in $100K in credit card debt after her business collapsed — show how debt management plans can be lifelines. Young adults are the fastest-growing group seeking help, with Millennials averaging $43K in unsecured debt and Gen X carrying the highest average at over $53K. While consolidation loans and zero-interest cards offer some relief, experts say credit counseling remains the most effective path out of debt for most people.
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