Curated News
By: NewsRamp Editorial Staff
February 13, 2026
Debt Crisis Deepens: Awareness Week Offers Tools to Break Free
TLDR
- Debt.com's Debt Awareness Week provides tools like the Debt-Free Day Calculator to help consumers gain financial advantage by visualizing and strategically paying off debt faster.
- Debt.com's initiative works by offering a 7-day action plan and calculator that converts debt amounts into workdays needed for payoff, based on annual income inputs.
- Debt Awareness Week promotes financial education and practical tools to help millions of Americans break free from debt cycles, creating a more financially secure future.
- The Debt-Free Day Calculator reveals that paying off $15,000 in debt requires over three months of full paychecks for the average American earning $62,000 annually.
Impact - Why it Matters
This news matters because rising household debt directly impacts millions of Americans' financial security, mental health, and long-term economic stability. As debt levels climb, consumers face increased stress, reduced savings for emergencies or retirement, and limited ability to invest in education, housing, or other life goals. The reliance on minimum payments can perpetuate a cycle of debt that hinders economic mobility and exacerbates inequality. By promoting awareness and practical tools like the Debt-Free Day Calculator, this initiative empowers individuals to take proactive steps, potentially reducing financial strain and fostering greater financial literacy. In a broader context, high consumer debt can slow economic growth, as households divert income from spending to debt servicing, affecting overall market dynamics. Addressing this issue is crucial for both personal well-being and national economic health.
Summary
As household debt reaches alarming levels in the United States, driven by record-high credit card balances and rising obligations in auto, retail, and student loans, millions of Americans are trapped in a cycle of minimum payments with little hope for financial freedom. The news release highlights staggering statistics from Federal Reserve data, showing U.S. non-housing balances grew by $49 billion in a single quarter, credit card debt jumped to $1.23 trillion, auto debt stands at $1.66 trillion, and student loan debt totals $1.65 trillion. These trends underscore a growing reliance on high-cost borrowing, increasing long-term financial strain for consumers who often lack awareness of their options to regain control.
In response to this crisis, Debt.com, a leading personal finance resource, is spearheading Debt Awareness Week from February 16-22, 2026, to educate and empower consumers. Key figures like Howard Dvorkin, CPA and chairman of Debt.com, and Don Silvestri, President of Debt.com, emphasize the urgency of moving beyond minimum payments, which they describe as a "long-term financial trap." The initiative offers practical solutions, including a series of 7-Day Action Steps that guide users through tasks like listing debts, reviewing spending, and setting financial goals, providing a clear path to improved financial health.
The cornerstone of the effort is Debt.com's Debt-Free Day Calculator, an interactive tool that visualizes the true cost of debt by calculating how many days of work are needed to pay it off. For example, an average American earning $62,000 annually would require over three months of full paychecks to eliminate $15,000 in debt. This tool, along with the broader educational campaign, aims to give consumers the clarity and motivation to take meaningful steps toward financial control, highlighting the importance of understanding debt's impact on daily life and long-term well-being.
Source Statement
This curated news summary relied on content disributed by Noticias Newswire. Read the original source here, Debt Crisis Deepens: Awareness Week Offers Tools to Break Free
