Debt resolution and consolidation work in very different ways, so it's important to know which option makes more sense. F.J. Jimenez/Getty Images

For many borrowers, debt is more than a line item on a monthly budget now. It's a growing source of stress tied to higher living costs , elevated borrowing expenses and an unpredictable economy. Part of the issue is that credit card APRs remain stubbornly high at an average of over 22%, even after recent Fed rate cuts . At the same time, wages haven't kept pace with inflation and the cost of essentials, including housing, have also increased, leaving many borrowers stretched thin. So, it's no surprise that people are exploring their relief options before their balances become unmanageable.

But while there are lots of options

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