We want to help you get control of your debt. Get advice from our experts on strategies for paying down your debt without hurting your credit score, negotiating with lenders, and managing interactions with debt collectors. We also explain bankruptcy options, your rights as a borrower and what you can and cannot do with student loan debt. Also, get inspiration from other readers who have managed to go debt-free.
Credit card debt isn’t an easy thing to overcome, there’s no doubt about it. But as if that wasn’t enough, there are quite a few common financial mistakes out there that can make your debt situation even worse! So, to help keep you from exacerbating your credit card woes, take heed of these four things... Read More
Americans don’t waste any time picking up a credit card habit. Between the ages of 20 and 30, young Americans typically see their credit card limits skyrocket 450% while their debt rises an alarming 300%, according to a recent report from the Federal Reserve Bank of Boston. Young adults tend to use their credit cards... Read More
You’d be hard-pressed to find someone who likes being in debt. Even when it helps someone accomplish a goal, like getting an education or buying a home, going into debt isn’t exactly fun. In fact, a lot of people say it’s downright terrible. A new survey shows 54% of American adults at least somewhat or... Read More
Getting quick cash to cover unexpected or emergency expenses can be a very costly experience, particularly if you have little savings and less-than-stellar credit. About 5% of American adults use payday loans to help pay the bills, but only about 1% — slightly more than 2 million people — borrow from auto title lenders. That’s according... Read More
Q. I can never seem to get ahead of my credit card debt. At what point should I consider bankruptcy? — Falling behind A. You’ve got plenty of thinking to do before you turn to bankruptcy. First, you need to take a close look at your budget. If you have a regular source of income, you need... Read More
January is always an interesting time because it feels like a new beginning: we’re starting a whole new year, full of exciting possibilities. For some people, though, January isn’t just about the possibilities; it’s also about dealing with the credit score impact of your decisions during the holidays. Purchases made on credit cards, for example,... Read More
It’s a scenario we hear about from consumers all the time: You get a call from a debt collector. They say you owe them money for a long past-due bill, but when you pull your credit report, you can’t find any record of the account’s existence. Do you actually have to pay? Well, the answer... Read More
Certain types of debt may be hurting your kids, a new study shows. Researchers at Dartmouth and the University of Wisconsin at Madison found that children whose parents had higher levels of mortgage and student debt fared better emotionally and behaviorally than children whose parents had higher unsecured debt (i.e. credit cards, medical debt, payday loans). The results... Read More
Right about now our dreaded holiday credit card bills are arriving in the mail. As we open each bill, we may be asking “Why did I spend so much?” While the answer may be somewhere between guilt, obligation and lack of planning, the most important thing to remember is not to panic. Although it’s in... Read More
Young people aren’t the only ones plagued with student loan debt problems. Recently, an Arizona man found a debt collection notice in his mailbox, which said he owed more than $1,900 on student loans he took out in the 1960s, reports 3TV in Phoenix. About 50 years ago, after serving in the Navy, Ralph Caswell... Read More
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