Seniors with credit card debt could benefit from knowing what protections are in place for them under federal law. Douglas Sacha/Getty Images

Credit card debt is a growing concern among older Americans, especially as rising living costs strain retirees' fixed incomes. That's hardly surprising, though, considering that debt levels are rising and collective credit card debt nationwide has repeatedly hit record highs over the last few years. Credit card debt is now the most common type of debt among adults ages 50 and older, and, as a result, millions of retirees are trying to juggle this debt with everyday spending, medical costs and unexpected expenses.

At the same time, the financial stakes often feel higher for seniors who are dealing with high-rate credit card debt .

See Full Page