Managing Debt

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.

Can a Debt Collector Go After My PayPal Account?

Can a Debt Collector Go After My PayPal Account?

Can a Debt Collector Go After My PayPal Account?

A reader recently wrote us to ask about judgments and what exactly a creditor can get access to when you owe them money. Just got a judgment today on my credit report. I know they can seize your bank account potentially (of which I have basically nothing). Can they do anything with your PayPal account?… Read More

3 Ways to Track Down Your Old Debts

3 Ways to Track Down Your Old Debts

3 Ways to Track Down Your Old Debts

When you’re on a mission to clean up your credit, there’s one task that may prove more difficult than you’d think: figuring out who you owe. That’s especially true if some of your debts are old, and have been sold by your creditors to collection agencies. These debts may be bought and sold multiple times,… Read More

How to Learn to Love Your Debt

How to Learn to Love Your Debt

How to Learn to Love Your Debt

Love and debt in the same sentence can sound like a paradox to anyone who hears it. But, with the reality of most people’s finances lagging in this economy, debt is just a reality. This means that you are likely to have debt, and if you do, you might as well try to love it. First,… Read More

Can You Sue Your Debt Collector?

Can You Sue Your Debt Collector?

Can You Sue Your Debt Collector?

Most people don’t realize that debt collectors can’t cross a line set by federal law. For example, they can’t threaten you with physical injury; claim to be a lawyer if they are not; harass you or use foul language; nor claim to have arrest powers. The list is extensive. The Federal Trade Commission has published… Read More

How to Keep Your Friends From Pulling You Into Debt

How to Keep Your Friends From Pulling You Into Debt

How to Keep Your Friends From Pulling You Into Debt

After a long week, a night out with friends can be a great way to unwind and start the weekend off right. Getting dinner and drinks may seem like a harmless plan… until you get the bill. Expenses like these can quickly add up, especially if you’re splitting a bill with big eaters and drinkers… Read More

3 Ways to Finance an Engagement Ring

3 Ways to Finance an Engagement Ring

3 Ways to Finance an Engagement Ring

The average engagement ring ran $5,598 in 2013, according to the TheKnot.com. That’s no small chunk of change. While it’s ideal to save enough to pay cash for a ring, there may be times you just can’t — or won’t — wait. What are the best ways to finance an engagement ring? Here are three, along with the… Read More

Hospital Bills Just Got Easier to Manage

Hospital Bills Just Got Easier to Manage

Hospital Bills Just Got Easier to Manage

The Department of Treasury and the Internal Revenue Service issued final regulations on new community benefit requirements for nonprofit hospitals on Dec. 29 – offering welcome protection to American consumers struggling with healthcare costs. These regulations call on hospitals to establish written financial assistance policies (also known as charity care policies), limit the amount billed… Read More

4 Reasons to Pay Your Credit Card Bill Before It’s Due

4 Reasons to Pay Your Credit Card Bill Before It’s Due

4 Reasons to Pay Your Credit Card Bill Before It’s Due

There are many good reasons to never pay your credit card bill late, but are there any good reasons to pay it early? It would seem to go against all common sense to send in a payment well before the due date, but the more you understand about how credit cards and credit reports work, it… Read More

Why a Debt Collection Letter Doesn’t Look Like It’s From a Debt Collector

Why a Debt Collection Letter Doesn’t Look Like It’s From a Debt Collector

Why a Debt Collection Letter Doesn’t Look Like It’s From a Debt Collector

The most difficult part of a debt collector’s job has been, and always will be, establishing communication with the consumer they are collecting from. Debt collectors go to great lengths to establish contact with consumers primarily through telephone calls and letters. In my experience, once contact is eventually established with the consumer, one of their… Read More

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