Debt is often stressful. After all, life comes with plenty of expenses. And when you use credit to address those expenses, they typically become larger as a result of interest and finance charges. If left unchecked, growing debt can lead to financial hardship. That's especially true in today's economic environment, in which high interest rates have become the norm. But, you don't have to deal with mounting debt forever.
As a result, the interest rates on your debts may be higher today than they were just a couple of years ago. That also means you may be dealing with higher minimum payments. The good news is that a debt relief service may be able to negotiate better interest rates and payment terms on your behalf, bringing the cost of your debt down. The future of inflation and interest rate cuts is unknownLate last year, many signs were pointing to rate cuts in 2024.