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.

The 2 Words Debt Collectors Don’t Want to Hear

The 2 Words Debt Collectors Don’t Want to Hear

The 2 Words Debt Collectors Don’t Want to Hear

While much of the debt collection world is straightforward and, quite honestly, a little boring, some people in the industry treat it like a free-for-all. “There are widespread attempts to add charges to debts that aren’t legal. Excess interest is something we’ve encountered quite frequently,” said Daniel Edelman, consumer law attorney, founder and partner at… Read More

I Found a Judgment on My Credit Report. Now What?

I Found a Judgment on My Credit Report. Now What?

I Found a Judgment on My Credit Report. Now What?

Sometimes, the first time you find out you’ve had a judgment entered against you is when the judgment-holder seeks to enforce it. While due process is supposed to notify all parties to a court action ahead of time, there are many reasons why you may not have gotten that notice. You may have moved from… Read More

Can I Bypass a Debt Collector?

Can I Bypass a Debt Collector?

Can I Bypass a Debt Collector?

When I am assisting people to resolve unpaid bills I’m often asked, “Why do I have to pay the debt collector? Why can’t I just pay my creditor or lender and avoid the collector all together?” A reader recently wrote in with just this question: I have a $5,000 balance on my credit card and… Read More

How I Paid Off $10K of Debt in One Year

How I Paid Off $10K of Debt in One Year

How I Paid Off $10K of Debt in One Year

Moving to the U.S. quickly taught Ronald Rauga two financial lessons: College is expensive, and credit cards are easy to get. At least, that’s how it was for him when he left Kenya for Orange County, Calif., in 1998. He came to the U.S. to go to college, and during his first week in the… Read More

What Happens to a Debt Collector That Gets Shut Down

What Happens to a Debt Collector That Gets Shut Down

What Happens to a Debt Collector That Gets Shut Down

Travell Thomas is desperately trying to save his business, or at least part of it. His debt collection firm, Four Star Resolution, was raided during the morning on Feb. 11, as a result of a lawsuit filed by the Federal Trade Commission. Employees were told to leave immediately. A temporary restraining order now prevents Thomas… Read More

5 Get-Out-of-Debt Strategies That Can Backfire

5 Get-Out-of-Debt Strategies That Can Backfire

5 Get-Out-of-Debt Strategies That Can Backfire

More often than not, debt and desperation go hand-in-hand. With the amount of strain debt can put on your wallet and your life, it’s no wonder why so many people find themselves searching for quick fixes. Unfortunately, there is no magic wand to make your debt disappear. If you think you’ve found a fast solution… Read More

Citizens Offered Up to $1 Million to Bust Software Pirates

Citizens Offered Up to $1 Million to Bust Software Pirates

Citizens Offered Up to $1 Million to Bust Software Pirates

When you were a kid, you may have heard that nobody likes a tattletale. That isn’t true. BSA The Software Alliance loves tattletales. If you report software piracy to BSA and your information directly results in a legal settlement between the alliance and the offending party, you can get a significant cut of that settlement…. Read More

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