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.
Yes, there’s such a thing as phantom debt collectors. And, yes, you can get contacted about a payday loan debt you simply don’t owe. Just ask intrepid consumer reporter Bob Sullivan, who received his very own debt collection note after simply reaching out to a payday loan company (and alleged phantom debt collector) for a story.... Read More
Many of us have been there. Just when debt payments seem to storm down on you in an insurmountable way, you receive an offer for a lower interest loan or credit card. Sometimes the offer comes with 0% interest for a certain period of time. Sometimes, the line of credit extended is enormous. At least... Read More
Q: After I paid a debt to my bank in full, I saw on my credit report that the bank reported it was charged off. What does this mean and how can I get it fixed? A: It can be jarring to see an account marked as “charged off” when you thought it was paid... Read More
Despite having 13 years of combined experience in financial services when we first started dating, we had a combined total of $51,000 in credit card debt. The old saying, “the cobbler’s kids have no shoes,” could apply, except that was part of the problem. We had lots of really nice shoes. After we paid off... Read More
Q: After 30 years of epileptic seizures, my 45-year-old sister had brain surgery last July, but suffered a stroke during surgery, leaving her paralyzed on her right side and with mental limitations. She has been unable to work and is on disability. Paying all the medical bills is difficult enough but she also has $40,000... Read More
Debt is persistent. In many cases, not even death can erase it, and you can rest assured your creditors will attempt to collect what you owe when you pass away. You may be worried that, upon your death, your outstanding debt could negatively affect your loved ones. The parties responsible for your debt depend on... Read More
Having your wages garnished seems bad enough, but just when you think you’ve given all that you can from your paycheck, you get hit up again by a debt collector for the same debt. And now you’re left wondering — is this even legal? Not if the debt collector is trying to garnish your paychecks twice... Read More
“I’ve always paid my bills. I had excellent credit.” That’s Nancy Gomez speaking with CBS Los Angeles about her ordeal. She’s a Californian with PPO insurance — and thousands of dollars in medical debt. Though Gomez is fully insured, she says she received an $18,000 bill for a treatment with an Encino pain specialist in her network,... Read More
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
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