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Debt consolidation trends: How borrowers are managing and paying down debt

Debt consolidation trends: How borrowers are managing and paying down debt
Photo: KVIA ABC-7 · view original

By Caren Weiner for SoFi The cash crunch is real: U.S. consumer debt reached $5.16 trillion in the first quarter of 2026 and inflation continues to rise. The credit agency TransUnion® recently reported that Americans’ required monthly debt payments are “consuming more household income and reducin...

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