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Financial Planning > College Planning > Student Loan Debt

Americans serious about reducing debt

By Warren S. Hersch

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Most Americans with credit card debt believe that getting out of debt is “extremely important” and plan to start doing so this year, according to a new report.

This finding is unveiled in the “2014 Americans and Credit Card Debt Survey.” Based on poll of 2,223 adults, the survey was conducted online January 1-9 on behalf of Credit.com, an online credit education and financial services company.

Among the survey’s findings:

  • 45 percent of respondents believe they have too much credit card debt;
  • 51 percent believe of those with credit card debt believe it is “extremely important” that they have a plan in place in 2014 to pay off the debt, while another 21 percent say it is “somewhat important;” and
  • 84 percent of those with credit card debt say it is extremely or somewhat likely that they will start paying it down this year.

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