Debt is one of the biggest troubles facing most American families these days. Families are struggling to make car payments and high monthly mortgages, and many are taking on even more debt by sending their kids to college. In fact, the debt crisis has become so severe that the Federal Reserve's July report noted that the total U.S. revolving debt was a staggering $793.1 billion, 98 percent of which belonged to credit cards with the average American household having nearly $16,000 in credit card … [Read more...]