“People who are irresponsible with debt shouldn't receive help.”
A person—who openly admitted having a massive trust fund—said this to me today.
While irresponsible borrowing does account for some portion of outstanding debt, it's the exception rather than the rule. How do I know? We've onboarded over $6 billion of debt at Relief, and I personally engage with as many users as possible.
The primary driver behind the historic surge in credit card debt is inflation. More than ever, everyday expenses are going onto credit cards—not by choice, but out of necessity due to rising costs outpacing wages.
The latest data underscores this reality: credit card debt in the U.S. reached a record-breaking $1.21 trillion as of Q4 2024.
It's easy to judge from a pedestal, but true strength lies in empathy—taking a closer look and extending a helping hand.