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 of the Weirdest Reasons People Have Gone Into Debt

4 of the Weirdest Reasons People Have Gone Into Debt

4 of the Weirdest Reasons People Have Gone Into Debt

For more than a decade, I’ve worked in the field of debt resolution, helping thousands of people overcome their debt issues. Most clients come to me in debt due to what I would call “typical” reasons for falling into debt. This includes loss of income or unexpected medical issues in the family, which become difficult… Read More

3 Reasons Your Bankruptcy Could Keep Dragging On

3 Reasons Your Bankruptcy Could Keep Dragging On

3 Reasons Your Bankruptcy Could Keep Dragging On

So you’ve filed a bankruptcy and just received your discharge notice in the mail. That means your case is over, right? Not so fast. There are many things that can drag a case out long after the bankruptcy court issues the discharge of debts. 1. Some Debts Survive a Bankruptcy A discharge means that you… Read More

Should Debt Collectors Be Able to Use Government Letterhead?

Should Debt Collectors Be Able to Use Government Letterhead?

Should Debt Collectors Be Able to Use Government Letterhead?

Debt collectors are legally prohibited from misrepresenting themselves as police or lawyers when communicating with consumers. Of course, that hasn’t stopped some collectors from breaking the rules, and there are plenty of debtors who can tell stories of precisely that. The question of what exactly qualifies as misrepresentation is at the center of a lawsuit filed Dec. 1… Read More

The 10 Commandments of Getting Debt-Free

The 10 Commandments of Getting Debt-Free

The 10 Commandments of Getting Debt-Free

Nobody wants to go into debt, and everyone in debt wants to get out of it. Avoiding or getting out of debt requires a lot of self control, patience and smart decision-making, but it doesn’t need to be complicated. To help keep you on your path to being debt-free, we put together a set of… Read More

The Slacker’s Guide to Dealing With a Debt Collector

The Slacker’s Guide to Dealing With a Debt Collector

The Slacker’s Guide to Dealing With a Debt Collector

Are you getting collection calls and wish there was an easier way to handle the problem? Here’s a guide to dealing with a debt collector … using the least effort possible. DON’T ignore bills, letters and threats thinking that collectors will just forget about the money, or that the firm won’t be able to find… Read More

How the CFPB Can Help Consumers Hurt By Medical Debt

How the CFPB Can Help Consumers Hurt By Medical Debt

How the CFPB Can Help Consumers Hurt By Medical Debt

The Consumer Financial Protection Bureau issued a new report today that sheds some light on the tricky world of medical debt collections. This new report found that 43 million consumers have medical collections on their credit reports, and more than half of the collection accounts on credit reports are medical in nature. It notes that… Read More

43 Million Americans Have Unpaid Medical Debt on Their Credit Reports

43 Million Americans Have Unpaid Medical Debt on Their Credit Reports

43 Million Americans Have Unpaid Medical Debt on Their Credit Reports

Americans’ credit reports contain unpaid medical debts far more than any other kind of unpaid bills, the Consumer Financial Protection Bureau has found in a study. A “staggering” 52% of all unpaid debt entries listed on credit reports is from medical expenses, the bureau says. And some 43 million Americans — or about one in… Read More

The States With the Most Credit Card Debt

The States With the Most Credit Card Debt

The States With the Most Credit Card Debt

The list of states whose residents carry the most credit card debt hasn’t changed much in the last few years — Alaskan credit card holders consistently carry the highest average balances, and most of the 10 states with high debt are along the East Coast. America’s average credit card debt per person has gone up recently,… Read More

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