US consumer credit card debt to surpass 2007 record
US consumer credit card debt is approaching record levels reached in 2007, according to a study from credit reporting firm WalletHub based on Federal Reserve data. Last year, the country's consumers accrued $89.2bn in credit card debt, pushing the total debt figure to $978.9 billion. This is approximately $3bn less than the record level reached in 2007. WalletHub predicts that the country will pass the all time-record by at least $100bn this year. The company found that the average US household in debt owes $8,377 to creditors, and suggests consumers establish budgets, pay off debts strategically and build emergency funds to reach debt freedom quickly. 
Credit card debt latest report from WalletHub

U.S. consumers racked up $89.2 billion in credit card debt during 2016, pushing outstanding balances to $978.9 billion, which is roughly $3 billion below the all-time record set in 2007, according to WalletHub’s latest Credit Card Debt Study, based on Federal Reserve data released yesterday afternoon. As a result, WalletHub projects that in 2017 we will surpass the current record by at least $100 billion.

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Given that the average indebted household now owes $8,377 to creditors, some advice clearly is in order. With that in mind, here are some tips that consumers should follow to reach debt freedom as quickly and inexpensively as possible: