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.

The New Grad’s Guide to Student Loan Debt

The New Grad’s Guide to Student Loan Debt

The New Grad’s Guide to Student Loan Debt

Finishing college is surely cause to celebrate — but it is also time for some hard realities to hit. Once you send in your last college assignment and get the perfect champagne-popping picture, your mind may start wandering to the future. No matter your post-grad plans, you will likely have to start working on paying back… Read More

I’m 58 & Have $65K of Student Loan Debt. What Can I Do?

I’m 58 & Have $65K of Student Loan Debt. What Can I Do?

I’m 58 & Have $65K of Student Loan Debt. What Can I Do?

Julie is a 58-year-old teacher working in a high-needs school, with college loan debt that just keeps on growing despite the monthly payments she’s making. She recently described her situation on the Credit.com blog. Here’s what she told us: I’m 58 yrs old, started with $43,000 student loan debt. I deferred for probably 12 years as… Read More

Debt Collector Will Write Off $3 Million of Debts, Close Doors

Debt Collector Will Write Off $3 Million of Debts, Close Doors

Debt Collector Will Write Off $3 Million of Debts, Close Doors

The Georgia Consumer Protection Office ordered an Atlanta-area debt collector to shut down his business and stay out of the industry for five years following numerous consumer complaints about the company’s practices and its alleged use of illegal debt-collection techniques, according to the Daily Report. Earnest Earvin IV, owner of Zenith Financial Group, agreed to… Read More

Help! A Debt Collector Is Going After My 5-Year-Old

Help! A Debt Collector Is Going After My 5-Year-Old

Help! A Debt Collector Is Going After My 5-Year-Old

Other than a few birthday cards, preschoolers generally don’t get mail. That’s why a Credit.com reader was surprised when the reader’s 5-year-old son received a debt-collection notice: My son is 5 years old and I recently received a letter in the mail from a collection agency addressed to him saying he owes a debt from… Read More

Would You Keep $100,000 or Give It to a Family in Need?

Would You Keep $100,000 or Give It to a Family in Need?

Would You Keep $100,000 or Give It to a Family in Need?

If it were easy to separate emotions from money decisions, people would probably be a lot more financially stable. If that were the case, it wouldn’t be very interesting to watch a TV show in which struggling families are given briefcases full of $101,000 and told anything they don’t keep will be given to another… Read More

Are Debt Collectors Sending You Texts? Here’s What You Need to Know

Are Debt Collectors Sending You Texts? Here’s What You Need to Know

Are Debt Collectors Sending You Texts? Here’s What You Need to Know

Debt collectors reportedly have a new strategy to get consumers’ attention: text messages. “YOUR PAYMENT DECLINED WITH CARD ****-****-****-5463 . . . CALL 866.256.2117 IMMEDIATELY,” reads one such text, according to the Federal Trade Commission. The agency has temporarily halted three debt collection operations that allegedly misused texts and is attempting to permanently ban the activity… Read More

Why Lifestyle Inflation Is Killing Your Budget

Why Lifestyle Inflation Is Killing Your Budget

Why Lifestyle Inflation Is Killing Your Budget

Congratulations! You got a raise, came into an inheritance or sold your home for a profit. No matter what has brought more money into your budget, it’s important to manage that money wisely. Just because you have greater access to money doesn’t mean you should increase your spending accordingly. The Basics of Lifestyle Inflation Think back to your… Read More

Woman Sues Debt Collector, Wins $83 Million

Woman Sues Debt Collector, Wins $83 Million

Woman Sues Debt Collector, Wins $83 Million

A Missouri jury ordered a debt buyer to pay nearly $83 million to a Kansas City woman it pursued for a $1,000 credit card bill she didn’t owe, NPR affiliate KCUR reports. The jury found Portfolio Recovery Associates LLC guilty of violating the Fair Debt Collection Practices Act, for which it will pay $250,000 in damages,… Read More

4 Ways That Getting Out of Debt Can Go Terribly Wrong

4 Ways That Getting Out of Debt Can Go Terribly Wrong

4 Ways That Getting Out of Debt Can Go Terribly Wrong

Debt isn’t something that can be fixed quickly. It takes time, perseverance, commitment to self-improvement and sometimes, a lot of trial and error. Unfortunately, many people fail to realize this and wind up devising some terrible plans to get themselves out of debt. So, to help you from making the same mistakes, I’ve listed four… Read More

Show Me More

Find out where you stand.
Get your FREE personalized credit report card.

Sign Up Now