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.

Does Taking a Pay Cut Hurt My Credit?

Does Taking a Pay Cut Hurt My Credit?

Does Taking a Pay Cut Hurt My Credit?

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

How We Chose to Get Out of Debt

How We Chose to Get Out of Debt

How We Chose to Get Out of Debt

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

Is There Such a Thing as ‘Good’ Debt?

Is There Such a Thing as ‘Good’ Debt?

Is There Such a Thing as ‘Good’ Debt?

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

A 12-Step Program for Debt Addicts

A 12-Step Program for Debt Addicts

A 12-Step Program for Debt Addicts

Debt can happen for a variety of reasons — you could be saddled with student loans, funding a home purchase or paying off credit card debt related to emergency car repairs. But for some people, money woes are the result of a serious proclivity to overspend. People struggling with a debt addiction may be surprised to learn that... Read More

Are You Paying Off Your Debt Wrong?

Are You Paying Off Your Debt Wrong?

Are You Paying Off Your Debt Wrong?

It’s happened. You’ve pinched all your pennies, paid off all your bills and — finally! — ended up with enough money to make an extra loan payment this month. But when you queue up the online account, you’re hit with an unexpected question: do you want to make a prepayment toward your next monthly bill or... Read More

Should I Bail My Son Out of Credit Card Debt?

Should I Bail My Son Out of Credit Card Debt?

Should I Bail My Son Out of Credit Card Debt?

Q. I just found out my 23-year-old has credit card debt of about $20,000. He only makes $43,000 a year and he lives on his own so he has expenses. I want to help but I want him to learn not to use money he doesn’t have. What should I do? — Conflicted A. It’s a tough... Read More

How to Deal With a Medical Debt Collector

How to Deal With a Medical Debt Collector

How to Deal With a Medical Debt Collector

For many Americans, medical debt is a very serious matter. Studies between 2005 and 2013 showed that medical debts are the single largest contributor to personal bankruptcy filings in the U.S. According to the Consumer Financial Protection Bureau, half of all overdue debt on credit reports is from medical debt; one in five credit reports contains... Read More

I Want to Pay an Overdue Bill. Where Do I Begin?

I Want to Pay an Overdue Bill. Where Do I Begin?

I Want to Pay an Overdue Bill. Where Do I Begin?

Missing a bill payment can have all sorts of nasty consequences — late fees, debt collector calls and credit score damage, to name a few. No one wants to deal with any of that, and the sooner you address the debt, the sooner you’re likely to get rid of those problems. But paying an overdue... Read More

4 Ways You’re Making Your Credit Card Debt Even Worse

4 Ways You’re Making Your Credit Card Debt Even Worse

4 Ways You’re Making Your Credit Card Debt Even Worse

Credit card debt isn’t an easy thing to overcome, there’s no doubt about it. But as if that wasn’t enough, there are quite a few common financial mistakes out there that can make your debt situation even worse! So, to help keep you from exacerbating your credit card woes, take heed of these four things... Read More

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