America’s debt landscape has reached levels that would have seemed impossible just a decade ago.
Total U.S. household debt is $18.59 trillion. Credit card debt alone has climbed to $1.23 trillion – an average of $6,523 per household.1 Student loans add another $1.7 trillion2 to the pile, with originations growing by $100 billion every single year.3
Unfortunately, the situation is accelerating, not stabilizing. In Q4 2025 alone, nominal household debt surged by $191 billion, and delinquencies jumped by 33% year-over-year.4
These numbers represent real people, real families, and real financial stress affecting millions of Americans every day. And for financial institutions, this shift represents an opportunity to lead consumers through it.
The knowledge gap: Consumers need guidance (but don’t know where to look)
Despite being surrounded by all this debt, most consumers don’t have a clear path forward. In fact, the data reveals a pretty startling figure.
Only 2 in 5 Americans with credit card debt actually have a plan to pay off their debt. 60% of people carrying credit card balances are essentially winging it, throwing away thousands of dollars in unnecessary interest.5
But here's the silver lining: Consumers want help, and they're looking to their financial institutions to provide it. 26% of bank consumers say they’re very interested in receiving financial advice from their bank.6
Further, 1 in 3 consumers are actively seeking a personalized debt paydown plan to tackle their financial obligations.7
This opens up a massive opportunity for financial institutions. The consumers who trust you with their money are now asking for guidance on how to manage it better.
Only 2 in 5 Americans with credit card debt
actually have a plan to pay off their debt.
Financial institutions that answer this call go beyond simply helping consumers. This assistance builds loyalty, deepens relationships, and positions institutions as true partners in financial wellness.
Interestingly, participation among property managers has declined slightly – from 48% in 2024 to 44% in 2025 – even as consumer participation continues to rise. This suggests a shift toward consumer-driven reporting, where renters are increasingly turning to third-party solutions to report their payments independently rather than relying solely on landlords or property managers.
In other words, demand is no longer dependent on supply; renters themselves are pushing the category forward. And they demand a flexible system that works for them.
Turn debt insight into meaningful guidance
How financial services teams can help
Personalize the experience
Your consumers are asking for advice that speaks directly to their unique situation. Use the data you already have – income patterns, spending habits, and existing debt obligations – to provide recommendations that actually make sense for them.
When someone calculates a debt plan actively tailored to their financial situation, they’re much more likely to see it through. It’s specific to their needs and made realistic through the data provided. That's the kind of personalization that drives real engagement and results.
Get proactive with insights
Don’t wait for your consumers to come to you with questions or problems. Stay top of mind by proactively reaching out with timely insights.
Alert them when there's an opportunity to refinance at a better rate. Give them a heads-up when spending trends suggest they might be headed for trouble. Offer solutions before small issues snowball into major financial crises.
Don’t wait for your consumers to come to you
with questions or problems. Stay top of mind by
proactively reaching out with timely insights.
This proactive approach builds genuine trust and shows you're invested in your consumers’ long-term financial health. This generates loyalty and return visits as a trusted financial partner.
Offer the right tools and resources
Equip your consumers with the practical financial tools that simplify and remove friction from debt management.
From personalized debt calculators and budgeting features to credit management tools, provide consumers with the resources needed to control their finances.
Beyond that, regularly communicate to your consumers which tools are available to them. The easier you make it for people to take action, the more likely they are to follow through and appropriately manage their debt.
Meet Debt Navigator: Your consumers’ payoff partner
Debt Navigator takes the guesswork out of debt repayment by leveraging a consumer’s financial data to create personalized strategies.
After providing their information, consumers see all their debts consolidated in one clear, comprehensive view. From there, the platform does the heavy lifting, calculating the fastest, most cost-effective path to debt paydown and becoming debt-free.
Debt Navigator’s true power lies in the optimal debt payoff strategies it offers. Users can:
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View all their debts in one place
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Compare payoff timelines
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Easily see projected interest saved
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Understand how long it will take to become debt-free
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Select which debts to prioritize based on their goals
This level of clarity transforms abstract concepts into concrete, motivating goals that keep them on track.
Proven success in real time
Financial institutions are already implementing Debt Navigator and seeing tangible results.
In Q4 2025:
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41.1% of users created payoff plans
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3.2% submitted consolidation applications
On average, users saw:
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$20,344 in projected savings
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13 years faster path to debt freedom8
These represent meaningful behavioral shifts and life-changing savings across consumers.
Beyond savings alone, these numbers also represent something equally valuable: increased trust. When institutions help consumers tackle debt and improve their financial situation, they become a trusted, appreciated partner.
Ready to help consumers tackle debt?
Debt just keeps growing, and your consumers are actively looking for guidance. Debt Navigator provides the platform to be the trusted advisor they need.
If you’re interested in learning more about how Debt Navigator can help your consumers pay off debt faster, please reach out today. We’d love to explore how we can partner together to make a meaningful difference in your consumers’ lives.
1 Motley Fool; 2 U.S. Debt Balance, Trading Economics, Jan 2026; 3 Bankrate; 4 Federal Reserve Bank of New York, Household Debt and Credit Report; 5 Bankrate; 6 JD Power; 7 MX; 8 Internal Array data, Feb 2026
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Editorial Note: This content is the author’s opinion, expression, and/or recommendation(s).
Bobby Matson is the Founder of Payitoff, a company dedicated to helping individuals tackle their debt. With over seven years of experience in software engineering, Bobby has worked with some of the industry's biggest names, bringing a deep passion for creating innovative solutions that make a real difference.
Recognizing the potential of technology to drive meaningful change, Bobby took the initiative to teach himself how to code, further sharpening his technical expertise. This self-driven journey led him to consult with companies on strategic direction and, ultimately, to found Payitoff.
Bobby’s academic foundation includes a Bachelor of Business Administration from the University of Michigan’s Stephen M. Ross School of Business, with a focus on entrepreneurship.
A strategic thinker with a clear mission, Bobby Matson combines his technical expertise, entrepreneurial spirit, and passion for helping others to drive Payitoff’s success.
Recognizing the potential of technology to drive meaningful change, Bobby took the initiative to teach himself how to code, further sharpening his technical expertise. This self-driven journey led him to consult with companies on strategic direction and, ultimately, to found Payitoff.
Bobby’s academic foundation includes a Bachelor of Business Administration from the University of Michigan’s Stephen M. Ross School of Business, with a focus on entrepreneurship.
A strategic thinker with a clear mission, Bobby Matson combines his technical expertise, entrepreneurial spirit, and passion for helping others to drive Payitoff’s success.