A national survey from Consolidated Credit, a nonprofit financial education organization, has found that many Americans delay seeking professional debt help until their balances reach five figures, often missing opportunities for early financial intervention. The survey of 1,005 U.S. adults, released June 1, 2026, comes at a time when total U.S. credit card debt has climbed to approximately $1.25 trillion, according to the Federal Reserve Bank of New York.
The survey found that 78% of respondents currently carry credit card debt, with nearly 30% owing $10,000 or more. Despite these high balances, many consumers still consider their debt “manageable,” which may contribute to delayed action. About 1 in 5 respondents said they would wait until debt becomes a last resort situation before seeking help, and 6% said they would never seek professional debt assistance.
“Many consumers don’t seek help until they feel they’ve exhausted every other option,” said Roxanne Grant, NFCC Certified Credit Counselor at Consolidated Credit. “The reality is that the earlier someone addresses their debt, the more options they often have available to regain control and avoid long-term financial damage.”
The survey also revealed significant gaps in consumer awareness of debt relief solutions. While debt consolidation loans and bankruptcy are widely recognized, nearly half of respondents were unaware that nonprofit organizations offer Debt Management Programs (DMPs), and only 37% reported familiarity with DMPs overall. Only 39% of respondents said they had ever enrolled in a DMP.
Many respondents expressed concerns about how debt relief programs could affect their credit scores, repayment timelines, and monthly costs. These misconceptions appear to contribute to hesitation, even though 70% of participants said they trust nonprofit credit counseling agencies. Consolidated Credit notes that DMPs offered through nonprofit agencies are designed to consolidate unsecured debt into one affordable monthly payment while potentially reducing interest rates and fees, with program fees capped nationwide.
The findings suggest that while financial stress continues to rise, greater consumer education may be necessary to help Americans understand when and how to seek trustworthy guidance before debt reaches crisis levels. For more information about debt management solutions, visit Online counselors.
