economy

February 11, 2026

Credit card balances just rose by $44 billion. Here's how to have your debt forgiven now.

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Credit card balances just rose by $44 billion. Here's how to have your debt forgiven now.

TL;DR

  • Credit card balances rose by $44 billion in Q4 2025, totaling $1.28 trillion.
  • High APRs near 30% exacerbate debt growth and compounding.
  • Debt forgiveness programs require owing at least $7,500.
  • Applicants must be behind on payments to demonstrate inability to meet obligations.
  • Proof of financial hardship (job loss, medical illness, divorce) is necessary for approval.
  • Alternative solutions like debt management or consolidation are available if forgiveness criteria are not met.

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