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.

4 Ways You’re Making Your Credit Card Debt Even Worse

4 Ways You’re Making Your Credit Card Debt Even Worse

4 Ways You’re Making Your Credit Card Debt Even Worse

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

When Do Americans First Get Addicted to Debt?

When Do Americans First Get Addicted to Debt?

When Do Americans First Get Addicted to Debt?

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

Are We All Doomed to Be in Debt?

Are We All Doomed to Be in Debt?

Are We All Doomed to Be in Debt?

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

Title Loans vs. Payday Loans: A Side-by-Side Comparison

Title Loans vs. Payday Loans: A Side-by-Side Comparison

Title Loans vs. Payday Loans: A Side-by-Side Comparison

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

Is Bankruptcy the Answer to My Debt Problem?

Is Bankruptcy the Answer to My Debt Problem?

Is Bankruptcy the Answer to My Debt Problem?

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

How to Avoid the Post-Holiday Credit Blues

How to Avoid the Post-Holiday Credit Blues

How to Avoid the Post-Holiday Credit Blues

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

New Study Finds Your Debt Could Be Hurting Your Kids

New Study Finds Your Debt Could Be Hurting Your Kids

New Study Finds Your Debt Could Be Hurting Your Kids

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

Help! I Just Got My Holiday Credit Card Bills

Help! I Just Got My Holiday Credit Card Bills

Help! I Just Got My Holiday Credit Card Bills

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

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