Record Number of InCharge Clients Declare Debt Freedom

ORLANDO, Fla., April 14, 2022 /PRNewswire/ -- If the tax-filing season is when most Americans do a serious review of their financial performance, rave reviews are in order for the record-setting clients of InCharge Debt Solutions.

More than 4,000 InCharge clients paid off their credit card debt in full in 2021, a recent record. In total, InCharge clients paid off $117 million of credit card debt last year.

"When you consider how chaotic the U.S. economy was in 2021 – lingering problems with COVID-19; record numbers of people quitting jobs; the first signs of real inflation – and still a record-number of people were committed to becoming debt free … I'd say you have to give them a 5-star review," InCharge Debt Solutions President and CEO, Etta Money said.

The record-setting payoff by InCharge clients is even more impressive when you realize it bucked the nationwide trend for credit card debt in 2021. American consumers added $87.3 billion in credit card debt in 2021, a complete turnaround from 2020 when they reduced credit card debt by a record-setting $82.1 billion.

The twists and turns in debt are just part of the battle InCharge credit counselors face with clients. Kristi Adams is a great example of that.

As it does every year, InCharge will encourage clients to use their tax refunds to pay off high-interest credit card debt. The average refund in 2021 was $2,880. Early returns for 2022 were averaging $3,536, according to IRS data. Consumers who use refunds to pay off credit card debt are taking a great step toward becoming debt free.

"Tax time is a great time to review your finances and ask the question, 'Where did all my money go?'" Money said. "Our budget and credit counselors educate clients on how to improve their financial future, understand their budget and find lasting debt relief. That is the best way to get rave reviews."

About InCharge Debt Solutions

InCharge Debt Solutions is a 501(c)(3) nonprofit organization offering confidential and professional credit counseling, debt management services, bankruptcy education, housing counseling and educational initiatives promoting financial literacy since 1997. InCharge has helped over a million people repay $3.4 billion in debt. With an A+ rating from the Better Business Bureau, InCharge is also a member of the National Foundation for Credit Counseling (NFCC) and is accredited by the Council on Accreditation (COA).

Media Contact - Karen Carlson, (407) 532 - 5745, kcarlson@incharge.org  

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SOURCE InCharge Debt Solutions