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Seriously overdue credit card debt is at the highest level in more than a decade, and people 35 and under are struggling more than other age groups to pay their bills.

The share of credit card debt that’s severely delinquent, defined as being more than 90 days overdue, rose to 10.7% during the first quarter of 2024, according to the Federal Reserve Bank of New York. A year ago, just 8.2% of credit card debt was severely delinquent.

If you’re experiencing delinquency, or at risk of it, experts advise speaking with a nonprofit credit counselor and negotiating with your creditors directly. Here’s what you should know:

Bruce McClary, ​​​​​​​senior vice president at the National Foundation for Credit Counseling, says that anyone at risk of delinquency should reach out as soon as possible for help from a nonprofit credit counselor, some of whom can be found through his organization. The consultation is free, and a non-judgmental counselor can give guidance towards a long-term solution.

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