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.
You did it. After months and months of hard work and dedication, you’ve finally paid off your debt. However, while this is certainly a cause for celebration, it’s important to remember that the fight for financial freedom isn’t over just yet. Life after debt, while undoubtedly easier, comes with its own set of challenges. So,... Read More
OK, readers: I’d like to have a heart-to-heart here. Christmas is fast approaching, and that means money is going to start flying out of your pocket at breakneck speed. It doesn’t matter how much we talk about the spirit of the season being what really counts. The reality is the holidays mean paying for presents,... Read More
The government may have a new way to stop people from running from tax debt: taking their passports. Next month, Congress could approve a bill that would allow the State Department to invalidate or reject passports for people who owe more than $50,000 in past-due taxes, the Wall Street Journal reports. The provision excludes taxpayers... Read More
The holidays are swiftly approaching, and, while everyone’s generally happy to wait on Santa, there’s one person you surely won’t want calling this time of year: a debt collector. Fortunately, consumers on the receiving end of letters, phone calls, emails or other means of recouping a debt don’t need to let any correspondence ruin their holiday cheer. Here are... Read More
Most Americans have only one kind of debt, if they have any at all, according to a new report from the Urban Institute. By analyzing five years of credit-report data of more than 5 million Americans, researchers identified many trends among U.S. debtors, including the most common kinds of borrowers. About 89% of consumers with... Read More
Here’s a story of a lovely lady (maybe two) who incurred a lovely amount of debt, all of it on cards of gold like the adverts, the oldest one maxed out. We’re a couple and, if you ask us, we’re lovely. We’re not as lovely as Mike and Carol Brady, but you should continue reading... Read More
We once had more than $51,000 in credit card debt. When we realized the gravity of our financial situation, we ignored our debt like a drunk uncle, worried about it like Woody Allen, talked about it like Oprah and were overwhelmed by it like the Denver Broncos in Super Bowl XLVIII (yes, we’re still bitter). We... Read More
We sometimes hear from readers who want to know if it’s legal for a debt collector to come after their personal accounts (or possessions) because of a business debt. They’ve taken on debt to start a business, and then things haven’t gone as planned. And now a debt collector is threatening to come after their... Read More
Debt collectors allegedly told a consumer’s 84-year-old mother they had a warrant for her daughter’s arrest in one case. They told another she wouldn’t be able to see her children. A different collector allegedly kept harassing consumers over outstanding payday loans it had acquired, even after it was told by the seller the debts were... Read More
Co-signing on a loan or a credit card certainly has its risks, as people with good credit who offer to put themselves on the line for a friend or family member are often told. But what happens if the person who extends their credit profile to someone with no credit or bad credit then has... Read More
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