If you’ve been losing sleep over credit card bills, you’re not alone. According to Happy Money’s new 2025 Credit Check-In report, a sizable share of Americans are feeling the squeeze of high-interest debt—yet many are skipping strategies that could help them breathe easier.

The consumer finance company’s survey of 2,000 U.S. adults paints a picture of persistent financial strain: 36% list paying down debt as a top priority, but 21% admit they haven’t taken a single step toward that goal in the past six months. Only 8% have consolidated or refinanced debt—despite credit card APRs now topping 20%.

Debt Stress Is Real—and It’s Disrupting Sleep

The findings are hard to ignore:

• 42% are somewhat or extremely concerned about their monthly credit card payments.
• Of that group, 42% say the stress is hurting their mental health, and 34% report it’s affecting their sleep.
• 37% carry a credit card balance every month—jumping to 45% for those aged 35–44 and 44% for those 45–54.

The takeaway? Financial anxiety isn’t just hitting wallets—it’s taking a toll on well-being.

Overlooked Tools for Relief

While some respondents are delaying major purchases (28%) or using savings to pay off debt (21%), few are tapping structured debt-reduction strategies like consolidation loans. That’s a missed opportunity, says Happy Money CEO Matt Potere, given that a fixed-rate personal loan can often cut interest costs, simplify payments, and even improve credit scores.

Potere points out that personal loans—when offered responsibly—benefit both sides:

“Done right, personal loans can be a win-win: helping consumers reduce high-interest debt while helping institutions diversify and grow.”

Opportunity for Financial Institutions

For banks, credit unions, and fintech lenders, the report highlights a market moment worth watching. Consumers are hungry for relief but hesitant to engage with traditional debt management tools. Providers offering transparent, fixed-rate solutions could win over stressed borrowers and build lasting relationships.

The broader implication? In a high-rate environment where card APRs routinely exceed 20%, debt consolidation could shift from niche offering to mainstream necessity.

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