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.
Debt is a delicate subject. If you have $100,000 in debt, is that a good thing or a bad thing? If it’s a mortgage, it might be good. If it’s a mortgage on a house that’s underwater, it might be bad. If it’s a high interest credit card balance, it might be really bad. Here’s... Read More
We hear it over and over: “Debt is bad! Don’t get into debt!” But while we know this, many of us don’t listen. I don’t know why. Even I knew better and lead myself down a path of financial ruin. (Thankfully, I’ve recovered and won’t allow it to happen again) The thing is, I fell... Read More
People in credit card debt have several options for getting out of it, but none of them are simple. For example, using a loan to consolidate debt at a lower interest rate requires you to have good enough credit for a personal loan. If you want to tackle it the old-fashioned way (paying off as... Read More
With the Supreme Court in flux, the highest authority in U.S. law has punted a landmark case over to the executive branch, effectively asking it to decide whether debt collectors can charge interest rates so high they’re deemed illegal in some states. In Madden v. Midland Funding, LLC., a debt collection company purchased the plaintiff’s... Read More
It’s no surprise that consumers don’t like debt collection companies very much. It is a surprise, however, that complaints against them keep mounting, even after federal regulators sue firms for the very things consumers complain about — trying to collect on debts that don’t exist, calling at odd hours, contacting workplaces, and so on. The... Read More
A North Carolina man found himself on the wrong end of a 14-year-old VHS rental gone wrong this week. As local news station WSOC reported, James Meyers was pulled over for a broken tail light, but when the officer ran his license, it came back with an arrest warrant for failure to return rental property... Read More
An Alabama legislative committee recently approved a bill that would lower fees charged by payday lenders in the state, but a church in Birmingham is going several steps further, paying off the loans for 48 families in financial need. The Worship Center Christian Church, led by Pastor Vanable H. Moody, began paying off $41,000 in... Read More
Income isn’t generally reported to credit bureaus, but that doesn’t mean a shrinking paycheck can’t have an affect on your good credit. If you start missing debt obligations as a result of a less money coming in, you’re credit score can suffer. And what about changes to your credit limit? Could a change in income... Read More
For years, even as our jobs were to help people manage their money and invest, we held complete disregard for our own money. Like many Americans, we always had more month left at the end of every paycheck. Financial emergencies were a precarious threat because we didn’t have the financial means to protect ourselves. That’s... Read More
As unfortunate as it may be, many of us are going to be faced with debt at some point in our lives. Whether it’s credit card bills, student loans, or a mortgage, there are numerous ways debt can weasel its way into our finances. But what if I told you that debt didn’t have to... Read More
Certain credit cards and other financial products mentioned in this and other articles on Credit.com News & Advice may also be offered through Credit.com product pages, and Credit.com will be compensated if our users apply for and ultimately sign up for any of these cards or products. However, this relationship does not result in any preferential editorial treatment.