Family Credit

With credit card balances at an all-time high and average interest rates hovering around 23%, the question of how to actually get out of credit card debt has never been more urgent for more people. MarketWatch assembled ten financial professionals in March 2026 to share their most effective strategies, and Family Credit Management President and Founder Michael McAuliffe was among the expert voices featured in the piece.

His contribution stood out for its practical, sequential approach. The starting point is making sure minimum payments are covered on every card, every month, both to protect your credit and to avoid the compounding cost of late fees. From there, he recommended calling creditors directly to request an interest rate reduction, a step many people skip simply because they do not know it is an option. According to McAuliffe, creditors are often more willing to negotiate than people expect, particularly with customers who have a history of on-time payments, and even a modest rate reduction can meaningfully shorten the path to being debt-free.

His most important caveat was one that sets nonprofit credit counseling advice apart from more aggressive debt payoff strategies: paying down debt should not come at the expense of building any emergency savings. Without a small cushion in place, the first unexpected expense can send someone right back into debt. His recommended approach is to work on all three fronts at once, making consistent payments, focusing on reducing interest costs, and setting aside something each month for emergencies, even when the amounts feel small.

For anyone trying to make sense of their options, this roundup is one of the more useful resources available, covering everything from the debt snowball and avalanche methods to personal loans, balance transfers, and behavior change.

Read the full article at MarketWatch.