Credit counselor says stigma should not keep people from seeking debt help

Share Add Us On Google Add as a preferred source on Google ( InvestigateTV ) — People enrolled in Money Management International’s debt management plans now owe more than $1 billion in credit card and personal loan debt, the most the national nonprofit has seen in 13 years. More than 60,000 people are enrolled. Many are putting everyday expenses such as groceries, gas and car repairs on credit cards as prices have jumped about 30% since 2019. Ted Rossman, with Money Management International, said inflation, high interest rates and the rising cost of living are behind the numbers. “The story behind the story is inflation, high-interest rates, just the rising cost of living that is really straining household budgets,” Rossman said. “And we’re going back to some unpleasant numbers that followed the financial crisis.” Rossman said some households are clearly showing stress. Even for people who are working and getting raises, pay is often not enough right now to keep up with rising prices for gas, groceries, housing, medical bills and child care. Rossman said people who are struggling should not wait to ask for help. “Definitely speak up, ask for help, don’t be ashamed,” Rossman said. “There’s such a stigma around credit card debt, which I think is unfortunate. There’s this feeling that if you have credit card debt you did something irresponsible, right? A big vacation, shopping spree, no… in reality it’s usually practical things, it’s medical bills, it’s car repairs, it’s gas, it’s groceries, so take the shame out of it.” Rossman said half of credit card holders carry debt from month to month, and the key is working to break the pattern. Options include connecting with a nonprofit credit counselor, taking out a personal loan or trying a zero percent balance transfer card to consolidate and pay down debt. Copyright 2026 Gray Media Group, Inc. All Rights Reserved.