Plus, bankruptcies are up HOW much from 2024?

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Piggy Bank Feeling Fragile?

Deal with debt without bankruptcy

Got debt? You’re not alone. Experian data shows that the average American owed more than $105,000 in the third quarter of 2024, up just slightly from the year before. That number includes credit card debt, mortgage and car loans, student loan debt and more.

 

One way to get out of debt is bankruptcy. Because of its prolonged financial consequences, bankruptcy is generally considered the last resort, but these days, more people are taking the risk. Bankruptcy filings are up year over year, according to data released by the Administrative Office of the U.S. Courts. Check out the Daily Mint below for the eye-boggling stats.

 

If you’re dealing with debt, bankruptcy isn’t your only option. We’ve rounded up seven ways to get out of debt — without going broke.

Get Out of Debt
data showing bankruptcy filings 2024 vs 2025
 

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