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 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

10 Ways to Fight High Medical Bills

10 Ways to Fight High Medical Bills

10 Ways to Fight High Medical Bills

We may all have health insurance now, but that doesn’t make our medical bills magically disappear. No, we still have plenty to pay out-of-pocket. In recent years, employers have shifted a greater portion of health care costs to workers. The 19th annual Towers Watson/National Business Group on Health employer survey found that employees now pay for 37%… Read More

We Paid Off $90K of Debt in 4 Years

We Paid Off $90K of Debt in 4 Years

We Paid Off $90K of Debt in 4 Years

Paul and Joan Ostroff went into debt trying to give their son, Andrew, a shot at getting past a learning disability so that he might be able to go to college. Joan, a preschool and elementary teacher, knew something wasn’t right and that their son had some learning delays. She had the public school evaluate… Read More

Debt Collectors Harass Debt-Free Woman for Years

Debt Collectors Harass Debt-Free Woman for Years

Debt Collectors Harass Debt-Free Woman for Years

It’s amazing Frances Marshall hasn’t disconnected her phone service yet. The North Carolina woman says she has received harassing debt-collection calls incessantly for the past two years, even though she says she has no outstanding debts, reports FOX8 in High Point, N.C. The collectors have threatened her, saying she’ll be subject to prosecution and jail time… Read More

The Smart Ways to Go Into Debt

The Smart Ways to Go Into Debt

The Smart Ways to Go Into Debt

You’ve been warned about the evils of debt, and there is plenty to be wary of. But debt isn’t always bad. “There’s a difference between good debt and bad debt,” says attorney Garrett Sutton, founder of CorporateDirect.com. “Bad debt takes things out of your pocket; good debt puts money in your pocket.” For example, he… Read More

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