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9/21/2009

CNN.comTwo years ago, Dawn Warfield was drowning in debt.

The average American household has $8,329 in credit card debt, according to the Nilson Report, a credit industry newsletter.

Warfield had nearly 10 times that amount.

At its worst point, her debt totalled nearly $80,000.

She had 17 credit cards and admits that living beyond her means was part of the problem.

"I'll own up to that," she said.

"There is always unforeseen expenses, and when you are making the minimum payments on these credit cards, when you think you can't afford to make more than that, they don't go down."

View the full article.