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.

Have You Called Your Nana Lately? Debt Collectors Have

Have You Called Your Nana Lately? Debt Collectors Have

Have You Called Your Nana Lately? Debt Collectors Have

Gripes about debt collectors are the most common complaint filed by older Americans, the Consumer Financial Protection Bureau said Wednesday. Collection gripes are roughly one out of every three complaints the bureau gets from seniors, it said. Confusion over medical bills, attempts to collect debts of deceased family members, and illegal threats of garnishing federal benefits like… Read More

7 Times to Use a Debit Card Instead of a Credit Card

7 Times to Use a Debit Card Instead of a Credit Card

7 Times to Use a Debit Card Instead of a Credit Card

Credit cards are renowned for their convenience and security, but they are not the best tool for every job. The biggest problem with credit cards is the fact that cardholders can easily use them to get them into debt, which results in costly interest charges. Other potential drawbacks of credit cards include the high fees charged to merchants and… Read More

The Millennial Debt Sentence: Will They Ever Escape?

The Millennial Debt Sentence: Will They Ever Escape?

The Millennial Debt Sentence: Will They Ever Escape?

What’s it like to be young these days? Well, it certainly isn’t care-free. Instead of enjoying their youth, millennials are losing sleep over their high debt levels, bad job prospects, low incomes and dim futures. A perfect storm of rising tuition costs, and youth unemployment and underemployment, has meant many millennials are saddled with unwieldy… Read More

How Much Does an Eviction Cost?

How Much Does an Eviction Cost?

How Much Does an Eviction Cost?

When a consumer fails to pay rent, it’s a bad situation for everyone involved. As a renter, you could have trouble finding another place to live, and your credit scores could take a hit. Landlords are often put in a stressful situation that can be quite costly, potentially damaging their financial stability, as well. It… Read More

7 Reasons Your Debt Repayment Plan Isn’t Working

7 Reasons Your Debt Repayment Plan Isn’t Working

7 Reasons Your Debt Repayment Plan Isn’t Working

People across the nation are charging more on their credit cards, signaling growing confidence in the economy. Says credit bureau Equifax: Equifax’s new National Consumer Trends Credit Report revealed that consumers in each of the nation’s 25 largest metropolitan areas increased credit card debt in the second quarter of 2014, compared with the same period… Read More

Are You Dealing With a Real Debt Collector?

Are You Dealing With a Real Debt Collector?

Are You Dealing With a Real Debt Collector?

Some less-than-above-board debt collectors deploy a number of unsavory tactics while trying to persuade consumers to give them money, but none worse than this: trying to collect on debts that just don’t exist. It happens, often. Sometimes, bad records are to blame. Debt notes are often sold, re-sold and re-sold again, and during that game… Read More

How Fast Can You Get Out of Debt?

How Fast Can You Get Out of Debt?

How Fast Can You Get Out of Debt?

You’ve decided enough is enough and you are going to get out of credit card debt. And you probably want to do it as fast as you can. So how long will it take? Don’t have a clue? That’s not surprising, considering you probably have several cards all with different interest rates and monthly payments…. Read More

How an Old Checking Account Can Come Back to Haunt You

How an Old Checking Account Can Come Back to Haunt You

How an Old Checking Account Can Come Back to Haunt You

Tis the season of haunting zombies, and being scared by something you thought was dead. That can be a pretty good description of how the debt collection business works sometimes. You might think an old checking account is long dead, but there are ghoulish ways those accounts can come back to haunt you. Here’s a… Read More

Strange But True Stories of Debt Collection

Strange But True Stories of Debt Collection

Strange But True Stories of Debt Collection

In 2005, our reader who goes by the screen name “frustrated in California” stopped paying on one of his credit cards. Now, nearly 10 years later, a collection agency is suing him and claims he made a payment of $200 in October 2010. He wrote: I know I did not make any payment, and under pressure, (the… Read More

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