Debt Management Program Survey: Over Half Don’t Get Help Until They Owe Five Figures

More than half of Americans who seek debt assistance wait until they owe at least five figures before asking for help, according to a new survey from Consolidated Credit. Many respondents reported delaying action due to embarrassment, uncertainty about available options or the belief they could resolve the issue on their own, often allowing financial challenges to grow more severe before seeking support.

This tendency to postpone financial intervention highlights the emotional and practical barriers consumers face when managing debt, creating relevance for financial services, credit counseling, banking and insurance sectors that can position themselves as trusted resources focused on education, planning and long-term financial wellbeing.