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.

Can I Be Sued Even If I’m Trying to Pay Back a Debt?

Can I Be Sued Even If I’m Trying to Pay Back a Debt?

Can I Be Sued Even If I’m Trying to Pay Back a Debt?

Every day, across America, hundreds of lawsuits are filed against consumers who owe debts they haven’t been able to pay. Consumers who learn they are being sued sometimes scramble to work out a payment arrangement in the hope of keeping the matter out of the courts. Does it work? Not always, as one of our… Read More

Can a Friend Send a Debt Collector After Me?

Can a Friend Send a Debt Collector After Me?

Can a Friend Send a Debt Collector After Me?

A reader wrote to us, worried that a former friend of her daughter’s might take her daughter to collections over some manicures that had been done out of friendship — before the relationship soured. Misunderstandings about money between friends are common. Should dinner at the expensive restaurant your wealthy friend suggested have been her treat? (You… Read More

Can a Debt Collector Call My Friends?

Can a Debt Collector Call My Friends?

Can a Debt Collector Call My Friends?

Have you ever experienced that gut-wrenching fear that a secret you shared with someone you thought you could trust would be leaked? Or maybe it actually happened and you felt betrayed, embarrassed or ashamed. While it’s sometimes tough to know who you can trust with confidential information, one thing you shouldn’t have to worry about is… Read More

87-Year-Old Pays Bill, Still Gets Hit With Collection Account

87-Year-Old Pays Bill, Still Gets Hit With Collection Account

87-Year-Old Pays Bill, Still Gets Hit With Collection Account

All Charles Hoffman wanted to do was switch his phone service. He accomplished that, but not without some serious miscommunications, which ended up damaging his credit report. The 87-year-old New Jersey resident canceled his Verizon phone service in June 2012, paid his final bill of $112.09 and went on with his life, the New Jersey… Read More

7 Signs You’re Heading Into Bankruptcy

7 Signs You’re Heading Into Bankruptcy

7 Signs You’re Heading Into Bankruptcy

If you’ve been grappling with a lot of personal debt, ignoring the problem won’t make it go way. At best, your bills will simply continue to pile up, and you’ll wind up paying a small fortune in interest and principal payments. At worst, you could wind up in bankruptcy court. Bankruptcy will obviously damage your… Read More

Debt Collectors’ Jobs Just Got Harder

Debt Collectors’ Jobs Just Got Harder

Debt Collectors’ Jobs Just Got Harder

A new court ruling may be giving more power to consumers trying to figure out if a debt collector’s phone call means they actually owe that debt. A July 16 ruling by the Sixth Circuit Court of Appeals elaborated on debt collectors’ obligation to respond to debt-verification requests, requiring collectors to provide details on the… Read More

Can a Repair Shop I Didn’t Use Send Me to Collections?

Can a Repair Shop I Didn’t Use Send Me to Collections?

Can a Repair Shop I Didn’t Use Send Me to Collections?

A reader recently asked if his son could be held responsible for paying for car parts that a repair shop ordered after his son visited their shop for an estimate, which he received. …they went ahead and ordered the parts, but he went another route to fix the vehicle and doesn’t need the parts now…. Read More

How I Paid Off $115K of Debt

How I Paid Off $115K of Debt

How I Paid Off $115K of Debt

After years of keeping his credit cards locked in a fire safe, Peter got an unpleasant surprise: a collection of statements totaling more than $55,000. Peter alleges his wife had broken into the safe and gone on a shopping spree at high-end department stores. To say the least, he wasn’t happy about it, but they remained… Read More

Show Me More

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

Sign Up Now
X

Start Maximizing Your Credit Today

Credit ScoreGet a FREE personalized credit check-up today.

Get Started - It's Free!