However, along with Latinx Americans, Black Americans share the lowest median credit card debt at $1,700. The quiz for this page is not ready yet. Please check back later.

H igh credit card balances can feel impossible to escape, especially right now, as today's high credit card interest rates ...

Your current credit card debt amount Sure, you may owe less than that $8,000 average amount … or you may owe more. Either way, if you can't pay off what you owe in its entirety, then it may make ...

Credit card companies and debt collectors may forgive some of your debt if you have a significant financial hardship. You can negotiate your debts yourself, or get help from a professional service.

In these cases, the credit card company will generally send you a Form 1099-C, "Cancellation of Debt," which reports the amount of debt forgiven to both you and the IRS.

3 ways to get your credit card debt forgiven Option 1: Negotiate with creditors yourself Anyone can negotiate with their creditors. The first step is to contact them and explain your situation.

Credit cards represent the most common form of debt for those of us in the 50 and older bracket. According to a 2025 AARP survey, 52% of those in the 50-64 group are carrying credit card balances ...