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.

How My Wedding Helped Me Be a Better Saver

How My Wedding Helped Me Be a Better Saver

How My Wedding Helped Me Be a Better Saver

Keeping a wedding on budget is hard work, but not impossible. I can attest to that — I got married in April and I was able to do it without going into debt. In fact, I saved too much and ended up ahead of the game. First, a few caveats. My husband and I had some… Read More

Can I Walk Away From My House After Bankruptcy?

Can I Walk Away From My House After Bankruptcy?

Can I Walk Away From My House After Bankruptcy?

Bankruptcy and foreclosure can each have serious negative consequences for your credit scores. But what if you experience one and then the other? Is it a double-whammy? Our reader Brent went through bankruptcy nearly seven years ago, and did not reaffirm his mortgage. But he continued to make his mortgage payments, and is still living… Read More

How Etsy Helped Me Pay Off $20K of Debt

How Etsy Helped Me Pay Off $20K of Debt

How Etsy Helped Me Pay Off $20K of Debt

Their marriage had a less-than-ideal start. She had $20,000 in debt. He was about to lose his home, and the bank wouldn’t negotiate. He also had a student loan, a car loan and some credit card debt. When she moved to Cleveland to be with him, she’d be unemployed. He’d have to work overtime as… Read More

My Debt Was Charged Off. What Does That Mean?!

My Debt Was Charged Off. What Does That Mean?!

My Debt Was Charged Off. What Does That Mean?!

One of the most misunderstood credit terms is the phrase “charged-off.” You may have seen it on your credit report next to an old debt you vaguely remember. At first look, it sounds almost positive, as if implying that a balance has been eliminated, removed and paid off. In reality, however, a charged-off account can… Read More

Why 8 Million Baby Boomers Are Struggling to Pay for Food

Why 8 Million Baby Boomers Are Struggling to Pay for Food

Why 8 Million Baby Boomers Are Struggling to Pay for Food

A hungry stomach doesn’t call you demanding money, but a debt collector going after your unpaid medical, utility and loan bills will. So maybe you choose to pay the bills instead of buying groceries — that’s the kind of dilemma facing millions of baby boomers, according to a survey from Feeding America and the AARP Foundation…. Read More

Is a Debt Collector Allowed to Know My Medical History?

Is a Debt Collector Allowed to Know My Medical History?

Is a Debt Collector Allowed to Know My Medical History?

If you’ve received medical care anytime in the last few years, you’ve no doubt been given medical privacy forms to sign. These forms, required under the Health Insurance Portability and Accountability Act, commonly referred to as HIPAA, are designed to help protect the privacy of sensitive medical information. But what happens when you owe a… Read More

5 Reasons You Shouldn’t Hide From Your Debt

5 Reasons You Shouldn’t Hide From Your Debt

5 Reasons You Shouldn’t Hide From Your Debt

Debt may have become so ingrained in your life that it seems natural. Maybe your plans to pay off debt have failed and you’ve even begun to ignore it. Maybe it’s because your debt is so long term (like a 30-year mortgage), it feels like you will never be without it. It’s important, though, to… Read More

The Secret Way to Get Rid of an Old Debt

The Secret Way to Get Rid of an Old Debt

The Secret Way to Get Rid of an Old Debt

Resolving a collection account can feel like lifting a weight off your shoulders: You can finally move on. But what happens when it comes back to haunt you again? Can you ever really put a bad debt behind you? A reader with the screen name “Frustrated” shared their story on the Credit.com blog: We used a… Read More

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