Americans are increasingly struggling to manage their financial obligations as consumer debt reaches unprecedented levels. The New York Federal Reserve reports that household debt has soared to over $18 trillion, with credit card debt hitting a record high of $1.21 trillion. Delinquency rates for consumer debt have also reached the highest levels in nearly five years, indicating a growing challenge for many households. As auto loans show signs of distress and mortgage originations face increasing delinquencies, experts warn that the pressures of rising debt and looming tariffs are contributing to a precarious financial environment for Americans. Various reports highlight the struggle individuals face in paying off their debts, with many seeking advice on how to reduce their credit card obligations amidst this financial strain.