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 to Pay Off $10K in Debt Without Breaking a Sweat

How to Pay Off $10K in Debt Without Breaking a Sweat

How to Pay Off $10K in Debt Without Breaking a Sweat

Are you tired of paying credit card bills for things you no longer own? Do you wish you had an extra $200 in spending cash rather than a car payment? Does it depress you to think you might be among the people who end up dying in debt? It doesn’t have to be that way. 2015… Read More

Will Your Debt Payments Go Up in 2015?

Will Your Debt Payments Go Up in 2015?

Will Your Debt Payments Go Up in 2015?

Interest rates are expected to go up this year, which is great news if you’ve been discouraged by the next-to-nothing interest rates banks pay on your savings. But if you have a home equity line of credit or a credit card with an interest rate tied to the rates set by the Federal Reserve, you… Read More

A Path to Building a Better Payday Loan

A Path to Building a Better Payday Loan

A Path to Building a Better Payday Loan

What do payday, account-advance, bill-pay and auto-title loans have in common? Three things, it seems: They’re underwritten to value collateral over cash flow; they’re designed to encourage repetitive borrowing; and their cost is so high, it’s as if the lenders want their borrowers — a demographic that includes recent college grads, working class and working… Read More

After Cancer, Young Survivors Look for Financial Help

After Cancer, Young Survivors Look for Financial Help

After Cancer, Young Survivors Look for Financial Help

After surviving cancer twice as a young adult, Samantha Eisenstein Watson found there’s more to the fight than defeating a disease — there’s a financial battle, too. Nearly two-thirds (62%) of cancer survivors fall into medical debt as a result of their treatments, a study from the Washington National Institute for Wellness Solutions found. The report’s… Read More

Couple Gets $200K Medical Debt Forgiven, But Some Aren’t So Lucky

Couple Gets $200K Medical Debt Forgiven, But Some Aren’t So Lucky

Couple Gets $200K Medical Debt Forgiven, But Some Aren’t So Lucky

It’s lovely that the now-famous British couple who made the mistake of having their preemie baby born in the U.S. won’t have to pay their potential $200,000 in medical bills. That doesn’t help anyone else, however. America is teeming with unpaid medical bills. How do we know? The nation’s top consumer financial regulator just published… Read More

How to Make Your Credit Card Debt More Manageable

How to Make Your Credit Card Debt More Manageable

How to Make Your Credit Card Debt More Manageable

Credit card debt can be a brutal burden to carry around. With every passing day, each card’s average daily balance is calculated, and interest charges are assessed on every dollar of debt. Because unsecured debt that is never tax deductible, credit card interest charges can be far more costly than most home mortgages or student loans. Although there… Read More

How to Avoid Wage Garnishment If You Can’t Pay Your Medical Bills

How to Avoid Wage Garnishment If You Can’t Pay Your Medical Bills

How to Avoid Wage Garnishment If You Can’t Pay Your Medical Bills

Earlier in December, the Consumer Financial Protection Bureau issued a report that found 43 million American consumers have medical collections on their credit reports. Then, a report from ProPublica and National Public Radio focused on the collection practices of nonprofit hospitals. It found that some nonprofit hospitals use collection actions that go far beyond just… Read More

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