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.

Will Bankruptcy Wipe Out All of My Debt?

Will Bankruptcy Wipe Out All of My Debt?

Will Bankruptcy Wipe Out All of My Debt?

A reader, Susan, wondered if revised laws mean that bankruptcy no longer wipes out debt, and instead requires that debts be repaid. She wrote: You have to reorganize and pay what you owe, not wipe them out. Am I correct? Just asking. Glad you asked — it can be confusing, because it depends on what… Read More

4 Ways Peeps Are Like Payday Loans

4 Ways Peeps Are Like Payday Loans

4 Ways Peeps Are Like Payday Loans

You see them at every grocery or drugstore checkout line — brightly colored Peeps calling to you from the display. Does anybody ever go to the store with Peeps on the list? Certainly nowhere near as many people as those who come home having purchased them. They’re not unlike payday loans — stay with me… Read More

Can a Debt Collector Publicly Shame You Into Paying?

Can a Debt Collector Publicly Shame You Into Paying?

Can a Debt Collector Publicly Shame You Into Paying?

People often prefer to keep their financial lives private, and that is particularly important if they’re in not-so-good situations like major debt. In many cases, you have a right to privacy, but some debts are a matter of public record. We recently had a reader ask about the legality of collection tactics: Is it legal for… Read More

Could Not Paying a Debt Land You in Jail?

Could Not Paying a Debt Land You in Jail?

Could Not Paying a Debt Land You in Jail?

After allegedly cashing the same checks more than once (by phone and in person), four Georgia football players were recently charged with theft by deception. It’s a crime that can result in fines or even jail time, depending on state law and the severity of the offense. Some debt collectors are using the threat of… Read More

When Health Insurance Doesn’t Save You Much Money

When Health Insurance Doesn’t Save You Much Money

When Health Insurance Doesn’t Save You Much Money

Q: How much does gallbladder surgery cost? A: Anywhere from $5,865 to $94,897. Here’s another one: How can a person with good insurance wind up paying $6,104.64 for gallbladder surgery? Well, it’s not hard. We set out on this quest after hearing from Justin Evans, of Bonney Lake, Wash., who has pretty good employer-sponsored insurance,… Read More

4 Money Challenges Military Members Face

4 Money Challenges Military Members Face

4 Money Challenges Military Members Face

For members of the U.S. military — whether they are active-duty enlisted, Guard or Reserve — there is a common theme for many: low pay and high debt. These same soldiers find themselves on military bases surrounded by many offers to finally buy things they’ve always wanted, but could never afford. Some soldiers simply want… Read More

Can You Consolidate Your Debt With Bad Credit?

Can You Consolidate Your Debt With Bad Credit?

Can You Consolidate Your Debt With Bad Credit?

When you’re struggling with debt, you look for any lifeline you can find. A debt consolidation loan may be one of them. But can you get one when you need it? A Credit.com blog reader asks: Are there any second-chance lenders and debt consolidation loans/investors out there w/low rates for folks with really bad and… Read More

25 & Employed, But Your Bank Still Treats You Like a Kid

25 & Employed, But Your Bank Still Treats You Like a Kid

25 & Employed, But Your Bank Still Treats You Like a Kid

About two-thirds of millennials have asked someone to co-sign a loan or lease — unsurprisingly, they’re looking to Mom and Dad when they need the help, according to a recent survey by Experian Consumer Services. Co-signers are necessary if a consumer wants a loan (or to rent an apartment) but cannot get approval on their… Read More

4 Signs You’re in Real Financial Trouble

4 Signs You’re in Real Financial Trouble

4 Signs You’re in Real Financial Trouble

Sometimes it’s not so easy to tell how bad things are until you are in real trouble. When it comes to your personal finances, there are some telltale signs it’s time to take action. The sooner you take action, the less likely you’ll encounter long-term damage down the road. But the first step is identifying… Read More

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