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.

7 Reasons Your Debt Repayment Plan Isn’t Working

7 Reasons Your Debt Repayment Plan Isn’t Working

7 Reasons Your Debt Repayment Plan Isn’t Working

People across the nation are charging more on their credit cards, signaling growing confidence in the economy. Says credit bureau Equifax: Equifax’s new National Consumer Trends Credit Report revealed that consumers in each of the nation’s 25 largest metropolitan areas increased credit card debt in the second quarter of 2014, compared with the same period… Read More

Are You Dealing With a Real Debt Collector?

Are You Dealing With a Real Debt Collector?

Are You Dealing With a Real Debt Collector?

Some less-than-above-board debt collectors deploy a number of unsavory tactics while trying to persuade consumers to give them money, but none worse than this: trying to collect on debts that just don’t exist. It happens, often. Sometimes, bad records are to blame. Debt notes are often sold, re-sold and re-sold again, and during that game… Read More

How Fast Can You Get Out of Debt?

How Fast Can You Get Out of Debt?

How Fast Can You Get Out of Debt?

You’ve decided enough is enough and you are going to get out of credit card debt. And you probably want to do it as fast as you can. So how long will it take? Don’t have a clue? That’s not surprising, considering you probably have several cards all with different interest rates and monthly payments…. Read More

How an Old Checking Account Can Come Back to Haunt You

How an Old Checking Account Can Come Back to Haunt You

How an Old Checking Account Can Come Back to Haunt You

Tis the season of haunting zombies, and being scared by something you thought was dead. That can be a pretty good description of how the debt collection business works sometimes. You might think an old checking account is long dead, but there are ghoulish ways those accounts can come back to haunt you. Here’s a… Read More

Strange But True Stories of Debt Collection

Strange But True Stories of Debt Collection

Strange But True Stories of Debt Collection

In 2005, our reader who goes by the screen name “frustrated in California” stopped paying on one of his credit cards. Now, nearly 10 years later, a collection agency is suing him and claims he made a payment of $200 in October 2010. He wrote: I know I did not make any payment, and under pressure, (the… Read More

How One Marine Is Getting Out of Debt Before Retirement

How One Marine Is Getting Out of Debt Before Retirement

How One Marine Is Getting Out of Debt Before Retirement

MSgt Rachel Gause knows a bit about discipline and focus from her military career, but when it came to finance, something was going wrong, and she knew it. She wants to be debt-free when she is eligible to retire (that will be August 2016), so when she realized a few years ago that retirement was on the horizon,… Read More

How I Paid Off $50K of Debt in Less Than 3 Years

How I Paid Off $50K of Debt in Less Than 3 Years

How I Paid Off $50K of Debt in Less Than 3 Years

Graduating from college debt-free feels really good. When Ja’Net Adams got her degree from South Carolina State in 2003, she was one of those fortunate students who started her adult life without debt, and things went along really well for her. She got married. They bought a house. They bought a new car. They had their… Read More

What a Debt Collector’s Day Is Really Like

What a Debt Collector’s Day Is Really Like

What a Debt Collector’s Day Is Really Like

When I saw the recent New York Times article “A Debt Collector’s Day,” I was obviously intrigued to read it. Having worked nearly 4,000 days as a debt collector, I was looking forward to reading an article that actually depicted what we do for a living so readers would get a glimpse at what a… Read More

Can a Debt Collector Collect on a Second Debt Without My Consent?

Can a Debt Collector Collect on a Second Debt Without My Consent?

Can a Debt Collector Collect on a Second Debt Without My Consent?

If you’d been faithfully sending checks to a collector and hadn’t been getting acknowledgements for your payments, you might understandably wonder what your balance was or how close you were to having the debt satisfied. Imagine how you’d feel if you discovered that the collection agency was now applying your payments to a second debt… Read More

Show Me More

Find out where you stand.
Get your FREE personalized credit report card.

Sign Up Now
X

Stay Connected to Our Experts

Please submit your email address to get credit & money tips & advice
from our team of 30+ experts, delivered weekly to your inbox.