Credit card debt has skyrocketed in recent months, and if you're carrying a balance, it's time to fix the issue.

To break the credit card debt cycle you’re currently in, you’ll need to find a way to pay off the debts you have while avoiding new bills. The best way to do this involves creating a monthly budget, consolidating your debts to pay them off faster, building an emergency fund and not using credit cards for spending in the short-term.

A new report finds that people are spending more on their cards and paying down less. Financial experts offer tips for reducing that debt, starting with looking at your spending habits.

Between today's high rates and the recent uptick in spending, it's time to get your credit card debt under control.

Creditors cannot have you arrested for credit card debt, but they can sue you for payment. If sued and you do not respond, a default judgment may award creditors everything they’ve asked for and result in garnishment of your wages or other actions to recover their losses.

Debt consolidation loans and balance transfer cards have distinct advantages and disadvantages when it comes to paying off debt. Debt consolidation loans give you a definite payoff date with a fixed interest rate.

Collectively, Americans now owe a record $1.21 trillion on their credit cards, according to a new quarterly report on household debt from the Federal Reserve Bank of New York.

The latest quarterly figures show that credit card debt hit another record level . getty. Americans Struggle With Record Credit Card Debt U.S. credit card debt reached a record $1

High interest rates, stubborn inflation and continued consumer spending are among the factors that have lifted collective credit card debt to an all-time high of $1.21 trillion, a

Credit-card debt in the U.S. hit another record after an unusually-high increase following the holidays. Debt from credit cards reached $1.21 trillion i