Expert advice for households grappling with high-interest debt

  • Credit counseling can help households struggling with debt
  • It can lower interest rates and develop a repayment plan
  • Not just for low-income people, but for everyone looking to manage their finances
  • Record $17.29 trillion of debt in U.S. households
  • Student-loan repayments have recently resumed after a 3½-year pause
  • Interest rates remain uncomfortably high

Credit counseling is a valuable resource for households struggling with debt. It can help lower interest rates and develop a repayment plan. Contrary to popular belief, credit counseling is not just for low-income individuals. It can benefit everyone, from retirees with reverse mortgages to overstretched families looking to cut their interest costs and manage their repayments. With a record $17.29 trillion of debt in U.S. households and the recent resumption of student-loan repayments after a 3½-year pause, now is the perfect time to consider credit counseling. Take control of your finances and explore your options for reducing or eliminating debt with the help of credit counseling.

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Factuality Level: 8
Justification: The article provides factual information about credit counseling and its benefits for households struggling with debt. It mentions the record amount of debt held by U.S. households, the recent resumption of student loan repayments, and the high interest rates. It also states that credit counseling is not just for low-income people but can help a wide range of individuals. The information provided is relevant, accurate, and objective.

Noise Level: 8
Justification: The article provides some relevant information about credit counseling and its benefits, but it lacks depth and analysis. It briefly mentions the record debt levels and high interest rates, but does not provide any evidence or data to support these claims. The article also does not explore the long-term trends or possibilities in the credit counseling industry. Overall, it feels like a surface-level overview without much substance or actionable insights.

Financial Relevance: Yes
Financial Markets Impacted: No

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article discusses credit counseling as a solution for households struggling with debt. While it pertains to financial topics, it does not mention any specific financial markets or companies impacted. There is no mention of an extreme event or its nature in the article.

Reported publicly: www.wsj.com