Many Americans struggle financially every month.

It doesn't matter if you are in the top 20% or the bottom 50%. In order to make ends meet month-to-month many families have taken on high interest debt. Much of it credit card debt. Consider the following:

"Americans' outstanding credit-card debt hit a record in November, highlighting a more confident U.S. consumer but also flashing a warning signal of potential trouble down the road.

Revolving credit, mostly credit cards, increased by $11.2 billion to $1.023 trillion, the Federal Reserve said in January 2018. That nudged the figure past the $1.021 trillion high-water mark reached in April 2008, just before the housing and credit bubbles burst. Over the past year, revolving credit has surged by $55.1 billion, or 5.7%, according to the Fed and Contingent Macro Research.

With the Federal Reserve continuing to raise interest rates, credit-card debt is going to grow faster and faster.

According to Bankrate's latest financial security index survey, 34 percent of American households experienced a major unexpected expense over the past year. However, only 39 percent of survey respondents said they would be able to cover a $1,000 setback using their savings.

From the image above we can see that Americans aren't known for their savings discipline. But even by our own low recent standards, we’re collectively putting away an exceptionally small slice of our paychecks. In December of 2017, the personal savings rate dropped to 2.4 percent, its lowest level since 2005. Before that, the only other time it dropped below 3 percent was in Oct. 2001. The savings rate has been burrowing lower for most of the past couple years.

The company I work for - Mr Cooper is in a unique position to help consumers through lending products that reduce monthly payments on high interest cards by using the equity in their homes. We have over 3,000,000 homes that we serve as mortgage servicer and have been offering these loans to our customers for quite sometime now. Its basically a cash out loan without cash in hand. The key is in making sure that the money goes to paying off the cards. This can free up substantial amounts of monthly cash flow and help them get on the right track and stay there. It's not for everyone but may bring a little piece of mind to millions of Americans and help them keep more of their hard earned money.

My team and our operations partners launched a national advertising campaign this month with a total of 5 commercials that will air throughout the year. This will bring our particular loan type and sales philosophy to millions of Americans who own homes we don't service. Three of them are below:

We hope to see the same type of positive emotional and psychological impact that freeing up cash each month and reducing high interest debt can have.

#WeAreMrCooper #USHouseholdDebt