Americans who live with debt rarely think of it as permanent. But ask them how long until they’re debt-free, and their situation may prove to be more enduring than they’d anticipated.
In Accredited Debt Relief’s 2026 Everyday Debt Survey a poll of 2,000 U.S. adults carrying at least $10,000 in unsecured debt, 41% described their situation as temporary but said they expect the process to take time. Another 19% said their debt is long-term and expect it to continue. Only 14% expect to be debt-free within a year at their current pace.
But the feeling that something is temporary is different from reality — and if your balance hasn’t changed after all those payments, the debt might be here to stay. Roughly a third of respondents, 34%, said their debt has not budged. Which timeline a borrower is actually on comes down to the size of the monthly payment.
Key Takeaways
- 41% described their situation as temporary.
- 19% said their debt is long-term and expect it to continue.
- 14% expect to be debt-free within a year at their current pace.
Long-Term Debt is the Norm
Only 14% of respondents expect to finish inside a year, and current borrowing costs explain why that group is so small.
Cardholders who carry a balance paid an average interest rate of 22.15% in the second quarter of 2026, according to the Federal Reserve’s G.19 consumer credit release published in August. The average balance hit $7,279 in 2025, according to the Federal Reserve’s Report on the Economic Well-Being of U.S. Households, which checked what people said against their actual credit records.
Given these stats, clearing that $7,279 in twelve months requires payments of $682 per month — a steep price for people with limited flexibility in their budgets.
What’s more, the same Federal Reserve report found that only 63% of adults could cover a surprise $400 bill with cash or something close to it. It’s an economic snapshot of why debt is on the rise in America — and the problem grows the longer a borrower makes minimum payments.
Minimum Payments Keep Balances in Place
The 34% who say their debt hasn’t budged are describing one of the most common outcomes there is.
The Consumer Financial Protection Bureau’s 2025 Consumer Credit Card Market Report found that more people are paying only the minimum than at any point since at least 2015. In 2024, 15% of regular credit card users and 20% of store card users paid just the minimum.
The same report found that 13% of cardholders were in what it calls persistent debt. That means a full year of payments went more toward interest and fees than toward the balance itself, up from 9.9% in 2022. Across the market, interest charges rose to $160 billion in 2024 from $105 billion two years earlier.
That means that “temporary” debt is anything but. If you owed $10,000 at current interest rates and made minimum payments of 3% of your balance with no new charges, you’d be paying that debt off for nearly 26 years — and spend about $15,500 in interest doing it.
Rising Balances Hit Struggling Households Hardest
Long-term debt lands hardest on the families with the least room to handle it: Federal data shows why.
Average credit card balances rose $748, or 11%, over two years. Adults who said they were living comfortably saw their balances rise just $59, or 1%. However, adults who said they were finding it hard to get by saw theirs jump more than $2,500, or 37%, from $6,735 to $9,265. For people who struggle to get by, credit is both a lifeline and a burden — and the longer the cycle continues, the more difficult it is to break free from long-term debt repayment.
Signs Your Timeline Is Longer Than You Think
A few signs suggest a balance is not on the track you think it is:
- The minimum payment is all you can afford most months
- The balance is about where it was a year ago, even though you keep paying
- More of each payment goes to interest than to the balance
- Cards cover essentials such as groceries, gas or utilities
- You have estimated a payoff date but never calculated one
These are common, and they say more about prices than about spending habits. Every situation is different, so it helps to run your numbers when you’re making a plan to pay off your debt.
If your debt is going to take longer than a year or two to pay off, it may be time to look at something other than the current payment plan. Accredited Debt Relief’s award-winning debt relief program can help you become debt-free in as little as 24-48 months — and saves our clients an average of $608/month. Explore your options by talking to a Certified Debt Specialist today: There’s no obligation, and it’s 100% free to check your options.
Frequently Asked Questions
How long does it take to pay off a credit card making only minimum payments?
At the 22.15% average rate the Federal Reserve reported for the second quarter of 2026, a $7,279 balance takes nearly 24 years to pay off … adds about $11,100 to your total amount repaid. That assumes a minimum payment of 3% of the balance or $15, whichever is greater, with no new charges — do the math on your own balance to see how much the convenience of minimum payments will cost you over time.
Why doesn’t my debt balance go down, even though I make my payments on time?
It’s because most of your payment goes to interest, not your balance. So while it might feel like you’re making progress against your debt simply by making timely payments, the reality is that minimum payments keep you on the hook for much, much longer than you might expect. The solution is changing your approach to debt repayment, and Accredited Debt Relief can help you explore your options and discover your monthly savings potential.
What kinds of debt can a debt relief program help with?
Eligible debt typically includes credit cards, personal loans, medical bills and some private student loans. Mortgages and home equity loans, auto loans, federal student loans, tax debt and child support or alimony are not eligible.
Sources Cited
“Report on the Economic Well-Being of U.S. Households in 2025: Credit.” Board of Governors of the Federal Reserve System, May 13, 2026.
“The Consumer Credit Card Market, 2025.” Consumer Financial Protection Bureau, December 30, 2025.
“Consumer Credit — G.19.” Board of Governors of the Federal Reserve System, August 7, 2026.
“Household Debt Balances Decreased Slightly; Credit Card Delinquency Transition Rates Remained Steady.” Federal Reserve Bank of New York, August 11, 2026.
The information on this site is provided as a general resource and does not constitute legal, tax, or financial advice. While we strive to ensure accuracy, this content, including any third-party sources referenced, should not be the basis for any financial decision. For guidance specific to your situation, we recommend consulting a qualified professional. Individual results may vary.