Before diving into the various credit card debt relief
options, it’s important to understand how credit card debt works. Credit card debt is essentially a loan that you take out from a credit card company. Each time you make a purchase with your credit card, you’re borrowing money from the company. If you don't pay off the full amount you owe each month, you’ll start accruing interest on your balance.
Credit card debt can quickly spiral out of control if you’re not careful. Interest rates on credit cards are typically higher than other types of loans, and if you only make the minimum payment each month, you could end up paying hundreds or thousands of dollars in interest over the life of the loan.