How to Manage Credit Card Debt Long-Term

Credit card debt can sometimes feel like houseguests who've overstayed their welcome. You're ready for it to move on, like yesterday, but it doesn't seem to budge.

Long-term credit card debt isn't unusual. More than half of Americans—61%—have been in credit card debt for at least one year, according to a 2026 Bankrate Credit Card Debt Survey. Among those people, 31% have been in debt for at least three years and 21% have carried credit card debt for at least five years.

If that sounds familiar, you might feel a little relieved to know you're not alone. But the real relief comes from having a plan to finally kick that debt to the curb. Whether you use DIY repayment strategies, consolidation, or seek professional debt relief, you don't have to deal with that debt forever. Here's how to determine your next move.

DIY Long-Term Credit Card Debt Management

When you have multiple credit cards, part of paying them off is figuring out how to prioritize your extra cash. DIY debt management means you decide how to organize and pay off credit card debt yourself. 

Two of the most-used DIY debt management strategies are the debt snowball and the debt avalanche. In both, you make all your minimum payments, then focus extra money on one card at a time. The difference is how you prioritize them.

• Debt snowball: The debt snowball has you order debts from the lowest balance to the highest, and throw as much money as you can to the smallest debt. You pay the minimums on your other debts. Once you pay off the first balance, you roll its payment over to the next debt on the list. You rinse and repeat until your credit card debt is gone. This option gives you a quick win, which can motivate you to succeed.

• Debt avalanche: The debt avalanche works the same as the debt snowball except you prioritize your debts from the highest interest rate to the lowest. This option generally saves you more money because you're paying the highest-interest cards first.

These debt management methods don't require you to seek out a credit counselor or get a loan. You decide what you can reasonably afford to pay for each debt, and you control the timeline for repayment. However, neither option reduces the amount of debt you have to repay. 

Credit Counseling and DMPs

If you want help figuring out how to repay your debts, a debt management plan (DMP) from a credit counselor may be the right option. DMPs offer a structured way to pay off credit card debts, typically over two to five years. 

A DMP enables you to make one payment to a credit counselor each month, who distributes the payment to your creditors. You typically have to agree to stop using your credit cards, but your creditors may waive certain fees or reduce your interest rate. A DMP doesn't reduce what you owe, but it can offer a straightforward path to paying off credit cards in a few years. 

You may have to pay an upfront fee to establish the plan and a monthly fee until all the payments are made. You must also be able to afford a payment that will clear your balance in no more than five years.

Debt Consolidation

Debt consolidation replaces your credit card debts with a new loan. It won't reduce the amount you owe, but you may be able to save money on interest if the new loan has a lower rate than what you paid to your credit cards. 

Personal loans for debt consolidation typically have terms from two to six years, so you can pay off the balance at a pace that works better for your budget. Unsecured debt consolidation loans will usually require you to have at least fair credit. 

You might also consider a home equity line of credit (HELOC), which is secured by your home and may offer better rates or larger loan sizes. Regardless of which loan you choose, shop around to compare rates, fees, terms, and approval requirements. 

Debt Relief for Long-Term Credit Card Debt

When you can't pay long-term credit card balances because of financial hardship, debt settlement and bankruptcy may be on your radar. Debt settlement could help you pay off balances for less than you owe. Bankruptcy, meanwhile, could be a legal way to discharge eligible credit card debts in full. 

Should you choose debt settlement vs. bankruptcy if you can't pay credit cards? Here are a few things to know to help you decide. 

• Debt settlement: This requires negotiating with your creditors to accept less than you owe. If your creditors agree to a settlement, you pay less than the full amount due and the rest of the balance is forgiven. For example, if you owe $5,000 but your credit card company accepts $3,500, the other $1,500 is canceled. You may owe taxes on forgiven amounts depending on your situation.

• Bankruptcy: Chapter 7 bankruptcy could wipe out credit card balances entirely for people who qualify. It can also pause or stop credit card debt lawsuits, wage garnishments, and bank account garnishments. Eligibility for Chapter 7 bankruptcy is tied to your income, expenses, and assets, and not everyone qualifies. 

Debt settlement may be a good fit if you owe $7,500 in credit card debt or more and have fallen behind on payments, or are at risk of falling behind. If you want to settle debt, you could negotiate on your own or work with professional debt relief services. That may be a less stressful option if the thought of negotiating feels overwhelming. You also get the benefit of a debt specialist's experience to work toward an agreement that fits your financial situation. 

Bankruptcy could make more sense if you have few or no assets and can't afford to pay anything toward credit card debts. There's no minimum amount of debt you need to file bankruptcy, but a good rule of thumb is to compare your debt total to the cost of filing bankruptcy. If it would cost you more in filing fees or attorney fees to file bankruptcy than you owe to credit cards, you may want to check out some of the other solutions discussed earlier. 

Both debt settlement and bankruptcy could hurt your credit scores, but that may be less important than finding a solution to your long-term debt. And once you've settled debts or completed your bankruptcy case, you can work on repairing the damage to your credit. 

Talking to a certified debt consultant may help if you're not sure how to tackle long-term credit card debt. Call Freedom Debt Relief at 1-800-910-0065 for a free consultation to explore the best ways to manage your debt situation.