By KAT TRETINA, last updated September 26, 2022. SAMANTHA SILBERSTEIN reviewed the article.

The typical American owes more than $92,000 in personal loans, credit cards, and student loans.
1 One option is to enroll in a debt management plan and work with a nonprofit credit counseling agency if you are having trouble paying off your balances. You can get help managing your money and pay off your debts in less than five years using this strategy.