The financial crisis has made life difficult for millions of Americans. Unemployment has hit record highs and millions of Americans have lost their homes to foreclosure, but will the lessons learned during the recession help people make better financial decisions in the future? According to one report, that may be the case.

As millions of people work to overcome debt, it appears their hard work is paying off. According to one website, credit card debt declined by 11 percent in 2011, bringing the average amount of debt down to $6,576. In addition, student loan debt and home equity debt declined as well.

Mortgage debt remained the same. However, auto loan debts increased by two percent.

Although credit card debt did go down, debt payments decreased during the holiday shopping season. Only nine states saw a decrease in consumer debt during the month of December, and most of those declines were minimal.

In addition to a decline in credit card debt, the nation as a whole saw credit scores decline. In 2011, the average credit score dropped eight points to 660. Scores range from 300 to 850. They are determined by a person's total amount of debt, the type of debt they have, the age of credit accounts and the number of late payments a person has made.

Although some people have reduced their credit card debt, many people remain buried in debt. It can often feel overwhelming, but there are steps that people can take to eliminate their debt. For some people, bankruptcy may be the best choice.

Source: Fox Business, "Credit card debt falls alongside credit scores," Maryalene LaPonsie, Jan. 25, 2012