Credit cards subject individuals to interest and fees. These costs can sometimes add up to quite a bit. According to recent data, in the one-year period ending March 31 of this year, around $104 billion in interest and fees were paid by U.S. credit card users.

This was an increase over recent years. For one, it was 11 percent higher than the previous year.

The rise appears likely to continue, as the federal interest rate is expected to keep increasing, which can lead to higher credit card interest rates.

High credit card interest rates can be a big concern for consumers. This can especially be the case for credit card users that are carrying a large balance. High rates plus a large balance can lead to a big build-up of interest. This could make paying back one’s credit card debt more challenging, particularly if one is dealing with other financial struggles.

When things like mounting interest lead to people facing difficulties paying back their credit card debt, they may worry that they will never get out from the debt. It is important to realize there are ways to fight credit card debt problems. There are a wide range of options out there, from basic debt management tactics to powerful tools for discharging debt, such as Chapter 7 bankruptcy. Getting guidance from professionals, such as skilled bankruptcy attorneys, can help individuals here in Texas who are worried about their credit card debt situation understand what options may be able to meet their particular needs.