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.

Who’s Most Likely to Have Their Wages Garnished?

Who’s Most Likely to Have Their Wages Garnished?

Who’s Most Likely to Have Their Wages Garnished?

More than one in 10 workers ages 35 to 44 had their wages garnished in 2013, mostly for child support and consumer debt, according to a report from human resources management firm ADP. People in that age bracket tend to have large debt loads, go through divorce and raise their children, stretching thin some workers’ finances,… Read More

I Was Hospitalized Against My Will. Should I Have to Pay?

I Was Hospitalized Against My Will. Should I Have to Pay?

I Was Hospitalized Against My Will. Should I Have to Pay?

When police came to John Albers’ door one night in June, he could not have been more surprised. When they told him that they were taking him to a nearby psychiatric facility because they had been told he was in danger of hurting himself, he was irritated and said he was fine, but they insisted… Read More

Help! I’m Getting Debt Collection Calls for Someone Else

Help! I’m Getting Debt Collection Calls for Someone Else

Help! I’m Getting Debt Collection Calls for Someone Else

The phone calls just won’t stop. They begin 8:31 a.m. and end at 8:29 p.m. Alicia Figluizzi has been hounded by debt collectors for months. And every interruption, every menacing call, is a call for the wrong person. Those who call are looking for a woman named “Shaunda.” The calls have clogged her landline phone… Read More

How to Tell If You’re Talking to a Fake Debt Collector

How to Tell If You’re Talking to a Fake Debt Collector

How to Tell If You’re Talking to a Fake Debt Collector

Debt scares people. Losing money is pretty terrifying, too, so getting a call from a debt collector and paying what he says you owe, only to find out you’ve been scammed out of your money, is pretty much a nightmare. It happens all the time. Debt collection scams are successful because the people impersonating collectors… Read More

How I’m Repaying $60K in Credit Card Debt

How I’m Repaying $60K in Credit Card Debt

How I’m Repaying $60K in Credit Card Debt

Yvette knows she didn’t just wake up one morning hopelessly in debt. She and her husband had good jobs — she is a hospital administrator and he is a property manager — and good incomes. The debt built slowly, over about seven years, and with a series of money decisions like, “we need to book… Read More

The 2 Words That Could Get You Out of Paying a Debt

The 2 Words That Could Get You Out of Paying a Debt

The 2 Words That Could Get You Out of Paying a Debt

Studies show the majority of consumers being sued over a debt fail to show up to court, often resulting in a default judgment. The judgment means you’re required to repay the debt — which, given the circumstances, will likely be a significant financial obstacle — and your credit standing will suffer as a result. Avoiding… Read More

Debt Collector Sentenced to Over 14 Years in Prison

Debt Collector Sentenced to Over 14 Years in Prison

Debt Collector Sentenced to Over 14 Years in Prison

How’s this for a nightmare scenario: A Minnesota man was busted and sentenced to prison for stealing identities while working as a legitimate debt collector. Khemall Jokhoo, 36, is the kind of guy who gives debt collectors a bad name: He was sentenced Aug. 20 to 14 1/2 years in federal prison on 33 counts… Read More

The $47 Cellphone Bill Nightmare

The $47 Cellphone Bill Nightmare

The $47 Cellphone Bill Nightmare

There are countless stories — some of which Credit.com has told — about how a small unpaid bill can make a mess of your credit standing. While there are some big balances that sometimes go to collections before you know about them, like medical bills, there are also seemingly insignificant amounts that cause more trouble than… Read More

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