The 7 Best Credit Card Debt Elimination Strategies

Burdened with thousands of dollars of consumer debt? Do you dread reading your credit card statements each month? There is hope. You can pay down your credit card debt fast. But first, you have to stop using your cards to make new purchases. And before you start paying off that debt, know this: You're far from alone. It can be difficult to track down just how much credit card debt the average cardholder is paying off, but in the spring of 2015, CardHub released a study showing that those households that carry a balance on their credit cards have an average debt of almost $7,200.