As September rolls around, many Americans are finding themselves grappling with credit card debt and struggling to make payments. With the economic effects of the pandemic still lingering, more and more people are turning to credit card forbearance to ease their financial burden.

Credit card forbearance allows individuals to temporarily stop making payments or reduce their payments on their credit card debt. However, not everyone qualifies for forbearance, with creditors typically looking at factors such as income, expenses, and financial hardship.

For those who are finding it difficult to afford their credit card payments, financial experts suggest reaching out to their credit card companies to discuss potential options. In some cases, creditors may be willing to negotiate a lower monthly payment or interest rate to help borrowers stay afloat.

As many continue to face the stress of mounting credit card debt, there is hope on the horizon for some relief. Experts predict that credit card interest rates may finally drop in September 2025, giving borrowers a much-needed break. However, it is important for individuals to continue to carefully manage their credit card debt in the meantime to avoid further financial strain.