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 collectors would face strict new limitations on how (and when) they contact consumers under a sweeping proposal announced Thursday by the Consumer Financial Protection Bureau. Collectors would be limited to 6 contacts per week while attempting to reach consumers, would have to work harder to prove validity of debts they are trying to collect, and they’d... Read More
She was accused of check fraud, and theft by deception. She was told that she owed $4,526, and was facing daily late fees. She was warned that her wages could be garnished or her property could be seized. The menacing phone calls and emails began in April and starting piling up quickly. But Susan Marquardt, of... Read More
You moved out, but your roommate didn’t pay the rent. Now debt collectors are calling, saying you owe them a few months of rent and fees. What do you do? What can you do? The answer depends largely on what state you’re in and whether your name is on the lease. Can a Debt Collector... Read More
Another month, another credit card bill. This time, you can’t even bring yourself to tear open the envelope because you already know what it says: You owe more money. Just the thought of paying it fills you with dread, which should be enough of a sign to show there’s a problem. Here are some other red flags that indicate your... Read More
There are times when you miss a debt collector’s letter because it looks vague and impersonal and you you mistook it for a marketing solicitation. Then there are times when you miss their correspondence altogether because it never arrived at your address. Here, we’ll discuss how to avoid the latter in one easy step. What’s in the Mail? If... Read More
You have a very pleasant phone call with a debt collector. The person begs you to send in a just a small sum, say $10, to settle the payment and promises to never bother you again. Suddenly, you get a new bill with the date of the collection account reset to the current date. Is it... Read More
When it comes to trying to get out of debt, I’ve seen and heard it all, from the person who got three jobs to the guy who sold his dream car. But it got me thinking, what are some of the craziest ideas out there to help you find your way out of debt? I decided to... Read More
If money is tight right now and you’ve fallen behind on your bills, you’re likely feeling a lot of stress. And if you’re getting frequent phone calls from a persistent debt collector on top of it all, your stress may be amplified. There are a few things you can do to get the debt collector... Read More
The belief that student loans are never dischargeable in bankruptcy is, simply put, not true. Student loans can be discharged in some limited cases. In fact, according to a study published in 2011 by Jason Iuliano, a student at the Woodrow Wilson School of Public and International Affairs at Princeton University, at least 40% of borrowers who include their... Read More
For many people, debt has, perhaps unwittingly, become just another part of life. In fact, a 2015 study from Pew Charitable Trusts found 80% of Americans are carrying debt. And not all of what they owe is tied to “good debt”, like a mortgage. At the time of that study, 39% of Americans were reporting unpaid credit card... Read More
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