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.

This Ridiculously Cute Ad Gives a Dog a Credit Card

This Ridiculously Cute Ad Gives a Dog a Credit Card

This Ridiculously Cute Ad Gives a Dog a Credit Card

Credit card debt has never been so adorable. A new ad for Canadian debit card program Interac features Max, an Australian Shepherd with a love of Kobe beef sliders, dog bones and plush toys … and a big problem with spending. As the (fictional, just to be clear) story goes, Max learns how to use the internet,... Read More

5 Reasons Not to Be Embarrassed About Your Debt

5 Reasons Not to Be Embarrassed About Your Debt

5 Reasons Not to Be Embarrassed About Your Debt

Debt is a delicate subject. If you have $100,000 in debt, is that a good thing or a bad thing? If it’s a mortgage, it might be good. If it’s a mortgage on a house that’s underwater, it might be bad. If it’s a high interest credit card balance, it might be really bad. Here’s... Read More

10 Lies I Told Myself About Debt

10 Lies I Told Myself About Debt

10 Lies I Told Myself About Debt

We hear it over and over: “Debt is bad! Don’t get into debt!” But while we know this, many of us don’t listen. I don’t know why. Even I knew better and lead myself down a path of financial ruin. (Thankfully, I’ve recovered and won’t allow it to happen again) The thing is, I fell... Read More

Will the Obama Administration Side With Debt Collectors?

Will the Obama Administration Side With Debt Collectors?

Will the Obama Administration Side With Debt Collectors?

With the Supreme Court in flux, the highest authority in U.S. law has punted a landmark case over to the executive branch, effectively asking it to decide whether debt collectors can charge interest rates so high they’re deemed illegal in some states. In Madden v. Midland Funding, LLC., a debt collection company purchased the plaintiff’s... Read More

Debt Collectors Calling About a Debt You Don’t Owe? You’re Not Alone

Debt Collectors Calling About a Debt You Don’t Owe? You’re Not Alone

Debt Collectors Calling About a Debt You Don’t Owe? You’re Not Alone

It’s no surprise that consumers don’t like debt collection companies very much. It is a surprise, however, that complaints against them keep mounting, even after federal regulators sue firms for the very things consumers complain about — trying to collect on debts that don’t exist, calling at odd hours, contacting workplaces, and so on. The... Read More

This Church Is Paying Off Members’ Payday Loans

This Church Is Paying Off Members’ Payday Loans

This Church Is Paying Off Members’ Payday Loans

An Alabama legislative committee recently approved a bill that would lower fees charged by payday lenders in the state, but a church in Birmingham is going several steps further, paying off the loans for 48 families in financial need. The Worship Center Christian Church, led by Pastor Vanable H. Moody, began paying off $41,000 in... Read More

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

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