3 ways to get personalized help with your credit card debt this September

The solution to your credit card debt isn't always to work harder; in many cases, it's working with the right kind of personalized guidance. Connect Images/Getty Images

If you're drowning in credit card debt, you're far from alone. Americans collectively owe more than $1.21 trillion in credit card debt currently, with the average cardholder carrying a balance of nearly $8,000 across their cards. What makes these figures even more concerning is that credit card interest rates have climbed close to their highest levels in decades, with the average APR now hovering above 21%. Those types of rates can have a big impact on cardholders, pushing what started as manageable monthly payments into a hefty financial burden as the interest charges compound.

But here's what the statistics don't capture: A large number of people trapped in this cycle aren't there because they're financially irresponsible or lack willpower. They're stuck because they're trying to get rid of their debt by using generic strategies that weren't designed for their specific circumstances or today's tough economic landscape. While there's plenty of catch-all advice to pick from, your path out of debt should be as individual as the circumstances that got you there. So, the solution typically isn't just working harder. It's working with the right kind of personalized guidance. 

Find out how to pay less than you currently owe on your credit card debt.

3 ways to get personalized help with your overwhelming credit card debt

Personalized debt help can change the way you approach your credit card balances. Instead of guessing how to prioritize payments or which strategies will actually reduce interest, you'll get guidance that's specific to your financial situation, which can save time, stress and even money. Here are three ways to find that type of help:

Utilize the guidance a credit counselor can offer

Credit counseling agencies provide free or low-cost consultations that can completely change how you approach your debt. These certified professionals analyze your entire financial picture — not just your credit card balances — to create a comprehensive plan that addresses your specific situation. They'll review your income, expenses, and debt obligations to identify opportunities you might have missed.

What sets credit counselors apart is their ability to see patterns and solutions that aren't obvious when you're in the thick of financial stress. They can help you understand whether certain approaches, like debt consolidation, make sense for your situation or help you create and set up a debt management plan where they negotiate lower interest rates and fees with your creditors and roll your monthly payments into a single, manageable amount. 

Perhaps most valuably, though, they provide ongoing support and accountability as you work through your plan. That, in turn, can help keep you on track for getting out of debt and getting your finances back in order (and keeping them that way).

Find out how the right debt relief expert could help you tackle what you owe now.

Work with a debt relief expert on a personalized solution

Debt relief companies can take a more hands-on approach by negotiating directly with creditors on your behalf to try and reduce what you owe. These professionals understand the complex world of debt negotiation and can often achieve settlements that individual cardholders can't secure on their own. They also generally know which creditors are most willing to settle for less, what arguments are most effective and how to structure agreements that work for both parties.

The personalized aspect comes from their ability to prioritize which debts to tackle first based on your specific circumstances. They'll consider factors like which creditors are most aggressive, which debts have the highest interest rates and which accounts are closest to legal action. While the outcome can vary, this strategic approach can generally save you thousands of dollars compared to trying to negotiate on your own — and even more compared to your original balance.

However, settling your debt does come with trade-offs, including potential tax implications and credit score impacts. A reputable debt relief company will explain these consequences upfront, though, and help you weigh them against the benefits of reduced debt loads.

Take advantage of the issuer help that's available to you

Your credit card companies typically have more programs and options available than many people realize, and in many cases, these options are only offered to customers who specifically ask about them. Hardship programs can temporarily reduce your payments or interest rates if you're experiencing financial difficulties. Some issuers also offer payment plans that let you pay off your balance over a set period with reduced or eliminated interest.

The key to accessing these programs is approaching your issuer proactively and honestly about your situation. Credit card companies would rather work with you to recover their money than write off your debt entirely, which gives you more negotiating power than you might think. When you call, be prepared to explain your financial hardship clearly and ask specifically about hardship programs, payment plans or interest rate reductions.

Some issuers may also offer other solutions, especially to cardholders who aren't yet behind on payments, like balance transfer options or temporary promotional rates that can significantly reduce your interest burden. The trick is timing these requests appropriately and understanding the terms thoroughly before committing.

The bottom line

Overwhelming credit card debt doesn't have to feel hopeless. Personalized support from credit counselors, debt relief experts or your credit card issuer can help you identify options you might not have known existed and make a concrete plan to pay down your balances faster. By exploring these avenues, you can regain control of your finances, reduce your financial stress and ultimately save money. The first step is simply reaching out to a qualified professional or your issuer to explore what's available for your unique situation.

Angelica Leicht

Angelica Leicht is the senior editor for the Managing Your Money section for CBSNews.com, where she writes and edits articles on a range of personal finance topics. Angelica previously held editing roles at The Simple Dollar, Interest, HousingWire and other financial publications.