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 Management Plan Hurt My Credit?

Can a Debt Management Plan Hurt My Credit?

Can a Debt Management Plan Hurt My Credit?

It’s pretty rare that anyone gets excited about receiving their monthly credit card statements. But if opening yours fills you with more dread than going on a questionable Tinder date, it may be a problem. Perhaps it’s time you consider a helpful solution, like a debt management plan (and swiping left). What Is a Debt... Read More

6 Creative Ways to Pay Off Debt

6 Creative Ways to Pay Off Debt

6 Creative Ways to Pay Off Debt

Debt is an essential part of credit health. When used correctly, it can improve your credit scores and lead to positive things like better consumer offers, interest rates and more. When used poorly, it will accomplish the opposite. Debt utilization — how much debt you have in relation to your combined credit limit — represents 30%... Read More

Can a Lender Just Take Money Out of My Bank Account?

Can a Lender Just Take Money Out of My Bank Account?

Can a Lender Just Take Money Out of My Bank Account?

It’s every borrower’s worst nightmare: You check your savings account only to find it’s been sapped by a lender. You had no idea this was coming, and even worse, you’re not sure that it’s legal. What do you do? This recently happened to one Credit.com commenter, who wrote in with this nightmare scenario that’s been edited... Read More

Americans Are Getting More & More Worried They’ll Miss Monthly Loan Payments

Americans Are Getting More & More Worried They’ll Miss Monthly Loan Payments

Americans Are Getting More & More Worried They’ll Miss Monthly Loan Payments

An increasing percentage of people are expecting to miss loan payments, according to a July survey of Consumer Expectations by the Federal Reserve Bank of New York. The survey data show people expecting to miss a payment on their debts has steadily increased since March, when 11.45% of those surveyed said they expected to miss... Read More

4 Easy Ways to Pay Off Your Debt

4 Easy Ways to Pay Off Your Debt

4 Easy Ways to Pay Off Your Debt

If you think paying off debt is just about math, you only know half the story. Sure, the balance is a number. The interest rate is a number. Your payment is a number. The debt is a story. Maybe it’s a student loan that funded your four-year education and has enabled you to get the job you’re... Read More

I’m Marrying Someone With Student Loan Debt. How Should I Prepare?

I’m Marrying Someone With Student Loan Debt. How Should I Prepare?

I’m Marrying Someone With Student Loan Debt. How Should I Prepare?

So you’re getting married. That’s the good news. The bad news: Your beloved has tons of debt on their hands. And not just any debt — student loan debt. How will you manage? We asked Robert Dowling, a certified financial planner with extensive experience advising high-net-worth individuals and their children for Modera Wealth in Westwood, New Jersey, for some primers. Here’s... Read More

Is There Really Any Such Thing As ‘Good Debt’?

Is There Really Any Such Thing As ‘Good Debt’?

Is There Really Any Such Thing As ‘Good Debt’?

Debt. It can sound like a dirty word, especially to people plagued by money woes. But, believe it or not, there are times when debt is considered a good thing. This “good debt” typically involves “borrowing money for an asset that is increasing in value,” Jim Atkinson, a certified financial planner and principal of Columbus Capital, an... Read More

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