In the wake of the Great Recession, many Americans found themselves swamped with more credit card debt than they could reasonably pay off. Years of free spending came grinding to a halt when the economy shed millions of jobs.

Many Americans ended up filing for bankruptcy in order to discharge debt that had grown out of control. Others cut back on credit card use in an attempt to pay down debt and regain some financial security.

However, new data is showing that this period of austerity may have been temporary.

Credit card usage increased significantly over the past year. Cumulatively, Americans owed $64 billion more on their credit cards at the end of 2011 than they did at the beginning.

Americans aren't just charging more, they are also paying off debt more slowly. Typically, households pay off credit card debt in the first quarter of the year - usually when annual bonuses and tax refund checks arrive. However, they didn't do this in 2011. Instead, they kept the cash and continued to charge.

Some experts say the increased willingness to accrue debt is a signal the economy is recovering. However, others fear that it puts individual financial stability at risk.

What to Do if You Are in Debt

Americans who find themselves mired in credit card debt have options.

The first is to stick to a budget and pay down the balances. Make a list of all your expenses - prioritizing necessities like housing, food, transportation and insurance - and cut out unnecessary spending. Use the leftover money to pay down your debt.

Of course, a crucial aspect of this plan is to never spend more than you bring in. If you're relying on credit cards to make it to the end of the month, you need to rework your budget.

This plan won't work for everybody. Some people have more debt than they could realistically pay off. If this sounds familiar, you may want to consider filing for bankruptcy. Talk to an attorney who can help you understand if bankruptcy is right for you.

Source: Christian Science Monitor, "Credit Card Debt: Are Consumers Returning to Bad Habits?" Odysseas Papadimitriou, Dec. 31, 2011