As credit card balances rise and interest rates remain high, Debt Awareness Week, sponsored by Debt.com, draws attention to the growing financial pressure facing millions of Americans and the urgent need for education and action.
/PRNewswire-HISPANIC PR WIRE/ — As credit card debt rises to $1.23 trillion and auto, retail and student loan balances continue to rise, American households are increasingly caught up in the economic landscape, focused on making minimum payments rather than understanding how long it will take to be debt-free.
Debt Awareness Week highlights the growing impact of consumer debt and helps Americans understand the true cost of borrowing. Through education, tools and practical guidance, the initiative enables people to go beyond minimum payments and take control of their financial future. (PRNewsfoto/Debt.com)
For consumers, these trends point to a growing reliance on multiple forms of high-cost borrowing, making it difficult to reduce balances and increasing the risk of long-term financial stress. Debt Awareness Week, February 16-22, highlights the urgency of helping consumers overcome minimum payments and understand their options to regain control of their finances.
“Too many Americans are stuck paying enough to survive their debt, not escape it,” says Howard Dvorkinpresident of Debt.com. “When households rely on minimum payments, debt quietly becomes a long-term financial trap, and that’s exactly why Debt Awareness Week is important.”
The numbers are staggering and underline the need for awareness
- U.S. non-housing balances grew by $49 billion in a single quarter.
- Credit card balances increased by $24 billion in the third quarter of 2025, reaching $1.23 trillion outstanding, up nearly 6% from a year ago.
- Auto debt stands at $1.66 trillion, reflecting the continued cost of transportation amid high prices and interest rates.
- Retail and consumer financial borrowing is expanding. Balances increased by $10 billion, totaling $550 billion, often driven by buy-now-pay-later-style financing and store cards.
- Student loan debt is growing again with balances increasing by $15 billion, bringing the total to $1.65 trillion.
(Statistics: Federal Reserve data 02/06/2026)
To help consumers take meaningful steps toward financial control, Debt Awareness Week also offers a series of practical 7-day action steps that anyone can start implementing right away. Each day focuses on a specific task, from listing debts and identifying interest rates to reviewing expenses, calculating your debt-to-income ratio, checking your credit report, and setting short- and long-term debt goals, giving people a clear way to start improving their finances and understanding their debt picture.
Debt Free Days Calculator
The cornerstone of Debt Awareness Week is Debt.com’s Debt-Free Day Calculator, an interactive tool designed to help consumers visualize how much of their work life is spent paying off debt.
For the average American making $62,000 a year, paying off $15,000 in debt would require more than three months of full paychecks, assuming every dollar went toward debt and nothing else. “Our debt-free days calculator gives users clarity and a true picture of their financial well-being,” says Don Silvestri, president of Debt.com. “It shows how many days you have to work just to pay off the debt, and that realization can be powerful.”
How the calculator works:
- Users enter the total amount of personal debt
- Annual income is taken into account in
- The calculator converts the results into the number of days needed to work to pay off the debt
- A personalized “Debt Free Day” displays on a calendar
“It’s a real wake-up call when you realize that a significant portion of your year is spent working just to pay off your debt,” Silvestri added.
As debt levels continue to rise across the country, Debt Awareness Week highlights the importance of helping consumers understand the true cost of debt and go beyond minimum payments. By promoting education and practical tools, the initiative aims to give Americans the clarity they need to take control of their financial future.
About: Debt.com is a leading resource for personal finance education, offering expert advice on debt relief, credit counseling, budgeting and financial planning. Through educational initiatives like Debt Awareness Week, Debt.com is committed to helping Americans achieve financial freedom.
Foto -https://mma.prnewswire.com/media/2891094/Debt_com_Debt_Awareness_Week.jpg
Logo – https://mma.prnewswire.com/media/1576979/Debt_com_Logo.jpg
FUENTE Debt.com
