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.

How a $1,000 Credit Card Bill Can Take 4 Years to Pay Off

How a $1,000 Credit Card Bill Can Take 4 Years to Pay Off

How a $1,000 Credit Card Bill Can Take 4 Years to Pay Off

Many people get into credit card debt over the holidays. But regardless of the reason, one of the best things you can do is pay it off. Ideally you want to put as much as you can toward the balance to clear the debt faster. You also want to avoid paying interest. Making minimum payments on your balance can be tempting, but tends... Read More

4 Ways to Jump-Start Your Holiday Debt Repayment Plan

4 Ways to Jump-Start Your Holiday Debt Repayment Plan

4 Ways to Jump-Start Your Holiday Debt Repayment Plan

Paying down your debt is a popular and noble goal to work toward. Of course, getting to that zero balance is easier said than done. Fortunately, there are some ways you can make the task a bit easier and increase the odds you’ll stay on track. Here’s how to jump-start your debt repayment plan in... Read More

What the Holidays Are Like for a Debt Collector

What the Holidays Are Like for a Debt Collector

What the Holidays Are Like for a Debt Collector

Being a debt collector is a tough job and, as president of a national debt collection company, I can tell you, that job gets even tougher during the holidays. Anytime you are in a position that involves asking someone to pay back money they owe, things tend to get somewhat awkward. During the holiday season,... Read More

72% of Americans Believe Their Finances Will Improve in 2016

72% of Americans Believe Their Finances Will Improve in 2016

72% of Americans Believe Their Finances Will Improve in 2016

Debt, expenses and retirement planning can make dealing with your finances seem daunting. But most Americans feel optimistic about their budget, with 72% saying they’ll be in better financial shape next year, according to an annual survey by Fidelity Investments. (The survey included responses from two random samples of U.S. adults interviewed by phone between Oct. 15 and 25.) Among... Read More

What’s a ‘Good’ Debt?

What’s a ‘Good’ Debt?

What’s a ‘Good’ Debt?

Thanks to the economic downturn and its lingering effects, the word “debt” predominantly carries a negative connotation. But you may have heard in the midst of balancing your budget or planning for retirement, that not all financing is created equal. In fact, some debts, experts suggest, may be good for you. But what exactly does... Read More

CFPB: Debt Collector Misled AT&T Customers

CFPB: Debt Collector Misled AT&T Customers

CFPB: Debt Collector Misled AT&T Customers

Millions of AT&T mobile phone consumers were caught up in a debt collection effort that led to legal action against a third-party collector, according to complaint filed by Consumer Financial Protection Bureau on Monday. The complaint alleges EOS, a Massachusetts-based collection firm, reported and collected on old cellphone debt that consumers disputed and was not verified.... Read More

How Much Money Does It Take to Feel Safe?

How Much Money Does It Take to Feel Safe?

How Much Money Does It Take to Feel Safe?

When I heard the question, “How much money is enough to make you feel safe?” on Open Account, SuChin Pak’s podcast about money and life, it made me wonder how much that number was for my parents, who used to switch to Vietnamese when talking about overdue bills in front of their English-speaking kids. When... Read More

Op/Ed: Why Regulators Should Ease Up on Debt Collectors

Op/Ed: Why Regulators Should Ease Up on Debt Collectors

Op/Ed: Why Regulators Should Ease Up on Debt Collectors

With complaints against debt collectors rising every year, regulators, including the Federal Trade Commission and the Consumer Financial Protection Bureau, have made debt collection a top priority. In fact, back in June, the FTC began holding “Debt Collection Dialogues” to better understand the dynamics between creditors, consumers, debt collectors and other regulators. As president of... Read More

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