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 American Dream: Is It Within Your Reach?

The American Dream: Is It Within Your Reach?

The American Dream: Is It Within Your Reach?

What’s your vision of the American Dream and what are you doing to achieve it? In the new 2014 Credit.com American Dream Survey, we found that most are optimistic about their prospects for achieving their version of the American Dream, but some groups are definitely more confident than others. The majority of those surveyed chose one… Read More

Is an Old Debt Haunting You?

Is an Old Debt Haunting You?

Is an Old Debt Haunting You?

Financial stability is a function of awareness: If you don’t know what’s going on with your bank accounts or credit standing, you may not know about issues with them. And ignoring your finances is not only unproductive, it can be damaging. Failing to check your accounts and credit reports could lead you to miss signs… Read More

You’re Debt-Free: What’s Next?

You’re Debt-Free: What’s Next?

You’re Debt-Free: What’s Next?

There are so many ways to end up in debt – from student loans or car loans to mortgage payments and credit card fees. Debts can add up fast, and paying them back is often a proud moment in your financial history. While conquering debt is cause for celebration, this can also be an opportunity to continue bettering your… Read More

Are Americans More in Debt Than the Rest of the World?

Are Americans More in Debt Than the Rest of the World?

Are Americans More in Debt Than the Rest of the World?

Americans have a global reputation for being a) bad at soccer (futbol) and b) good at spending money they don’t have. Looks like it might be time to challenge both conventional beliefs. As the surprisingly game Americans took the “pitch” on Tuesday against Belgium, many observers conceded that the U.S. team rightly earned its spot… Read More

The True Story of a Debt Collector That Can’t Pay Its Own Debt

The True Story of a Debt Collector That Can’t Pay Its Own Debt

The True Story of a Debt Collector That Can’t Pay Its Own Debt

The Federal Trade Commission has ordered a Houston-based debt collector to pay a $4 million penalty for allegedly using false and deceptive collection practices, which cost consumers more than $1.3 million in unfair fees. The company can’t pay the penalty. So what happens when the debt collector can’t pay its own debts? According to the… Read More

The New American Dream: Getting Out of Debt

The New American Dream: Getting Out of Debt

The New American Dream: Getting Out of Debt

What does the American Dream look like today? For a quarter of American adults in a new Credit.com survey, the answer is simple: it’s being debt-free. Retiring financially secure at age 65 was the most popular response to the question, “Which of the following financial goals most closely represents the ultimate American Dream for you?”… Read More

Your TV Watching Could Be Driving You Into Debt

Your TV Watching Could Be Driving You Into Debt

Your TV Watching Could Be Driving You Into Debt

Watching TV is among Americans’ favorite ways to spend their free time. Sure, it’s fun to socialize, read and exercise, but TV gets much more of our attention, according to the recently released 2013 American Time Use Survey from the Bureau of Labor Statistics. We spend about half our leisure time watching TV – an average… Read More

Getting Out of Debt Saved Our Marriage

Getting Out of Debt Saved Our Marriage

Getting Out of Debt Saved Our Marriage

When Ellie Kay married her husband, Bob, over two decades ago she knew she was marrying a hard-working fighter pilot. “I was starry-eyed,” she says. What she didn’t know was that he was carrying about $40,000 in unsecured debt. Bob had been divorced and had two children. When his first marriage dissolved, he took on… Read More

The States With the Most Credit Card Debt

The States With the Most Credit Card Debt

The States With the Most Credit Card Debt

Credit card holders are generally carrying lower balances than last year, with the average outstanding credit card debt at $3,658 per consumer in the first quarter of 2014. However, after average balances declined in every state from 2012 to 2013, some states saw consumers’ credit card debt rise again at the start of this year,… Read More

Are You Drinking Your Way Into Debt?

Are You Drinking Your Way Into Debt?

Are You Drinking Your Way Into Debt?

It’s fun to unwind with friends after work, but handing a bartender your credit card to open up a tab can do considerable damage to your finances. While most consumers are aware that going out to eat is a common budget breaker, many underestimate the impact alcohol has on their monthly budget. Even in areas… Read More

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