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The coronavirus covering economic numbers. Source: Shutterstock.

From work reduction to cuts in pay and job loss, millions of people have been impacted financially in the U.S. by the COVID-19 pandemic in one way or another. So it is not surprising that when it comes to reducing debt, a majority of Americans are currently finding it harder than ever to pare it down.

In a recent report released by BAI and the National Foundation for Credit Counseling (NFCC) from a joint Harris Poll on the topic of consumer spending and saving habits in light of COVID-19, the data showed that more than 55% of Americans have factors that have made it significantly more difficult to minimize their debt during this pandemic. The most common factor per the poll was the reduction of income.

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