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.

Still Paying Off Holiday Debt? How to Make a Plan

Still Paying Off Holiday Debt? How to Make a Plan

Still Paying Off Holiday Debt? How to Make a Plan

Outstanding credit card debt increased by $29.2 billion from November to December 2014, reflecting the typical spending frenzy that comes during the holiday season (for comparison, it jumped only $8.2 billion from October to November, according to Federal Reserve data). Of course, a surge in credit card debt is something that can last long after the… Read More

How Avoiding Bankruptcy Can Backfire

How Avoiding Bankruptcy Can Backfire

How Avoiding Bankruptcy Can Backfire

In the world of personal finance, credit concerns and debt issues, there is no single issue that is more misunderstood than bankruptcy. Recently the Federal Reserve Bank of New York came out with an exceptional report on the bankruptcy reform of 2005 — which made it tougher for people to file bankruptcy, and was the… Read More

Will You Be Sued Over an Unpaid Debt?

Will You Be Sued Over an Unpaid Debt?

Will You Be Sued Over an Unpaid Debt?

The goal of all creditors is for consumers to repay borrowed money according to the terms and conditions of their original agreement. When a consumer debt fails to be repaid as agreed, creditors must decide the best option to take to recover their loss. At this point, creditors have several options available. They may decide… Read More

Will Settling a Private Student Loan Wreck My Credit?

Will Settling a Private Student Loan Wreck My Credit?

Will Settling a Private Student Loan Wreck My Credit?

A reader recently wrote in, concerned about whether an old unpaid student loan could be reported to the credit reporting agencies: I was recently contacted about an old school loan. It is either close or very close to the statue of limitation and has never showed up on my credit report. I thought maybe the… Read More

Can Debt Collectors Repossess My Car?

Can Debt Collectors Repossess My Car?

Can Debt Collectors Repossess My Car?

If you’re like many of us, you need your car to get to work or school, carpool kids or grandkids, or to do your shopping. But what happens if you are getting calls from debt collectors who you can’t pay? Can a debt collector take your car? Our reader, Marbella, who lives in California, says a collection… Read More

Will My Fiancée’s Bankruptcy Hurt Me?

Will My Fiancée’s Bankruptcy Hurt Me?

Will My Fiancée’s Bankruptcy Hurt Me?

Q. I’m getting married this summer. My finances have always been solid. My fiancée, though, declared bankruptcy four years ago. She seems to be on track, I think, but I’m not sure how her money will impact mine when we do marry? What do I need to know? A. Congratulations on your marriage, and for… Read More

Can I Stop My Bill From Being Sent to Collections?

Can I Stop My Bill From Being Sent to Collections?

Can I Stop My Bill From Being Sent to Collections?

A Credit.com reader recently asked about when a hospital can send a bill to collections, and how that could affect one’s ability to pay the bill. The reader had a $4,200 bill that was outstanding for more than 120 days. After calling the hospital to make payment arrangements, the hospital informed the reader that the… Read More

Help! I Never Got a Bill & Now My Credit Is Damaged

Help! I Never Got a Bill & Now My Credit Is Damaged

Help! I Never Got a Bill & Now My Credit Is Damaged

When it comes to getting a bill, no news isn’t always good news. While most of us would prefer to get fewer bills, not getting one for something you do indeed owe can be costly. It can also be very damaging to your credit. One woman, for example, sent a heartfelt plea to her credit card company… Read More

How Do I Get a Debt Collector to Negotiate With Me?

How Do I Get a Debt Collector to Negotiate With Me?

How Do I Get a Debt Collector to Negotiate With Me?

I work with people daily in order to help them better understand their options, and overcome the hurdles that can pop up when resolving collection debts. A woman recently submitted a common concern about being denied any opportunity to negotiate affordable payoff and settlement terms with debt collectors. She is looking for ideas to get… Read More

Show Me More

Find out where you stand.
Get your FREE personalized credit report card.

Sign Up Now
X

Stay Connected to Our Experts

Please submit your email address to get credit & money tips & advice
from our team of 30+ experts, delivered weekly to your inbox.