7 Bad Pieces of Get-Out-of-Debt Advice

Managing Debt

7 Bad Pieces of Get-Out-of-Debt Advice

7 Bad Pieces of Get-Out-of-Debt Advice

Asking for advice is one of those things that can either be helpful or disastrous — it depends on the topic and who’s offering tips. When it comes to get-out-of-debt advice, the stakes are high, so choose your advisers carefully and keep an open mind when it’s time to make decisions. It’s not so much… Read More

How Getting Out of Debt Can Hurt Your Credit

Managing Debt

How Getting Out of Debt Can Hurt Your Credit

How Getting Out of Debt Can Hurt Your Credit

A common concern you may have when searching for the best debt relief solution is how it will impact your credit score. There are many misconceptions about credit reports and the harm that comes from credit counseling, settling debt for less than what you owe and bankruptcy. Your credit report and credit score will heal… Read More

Debt Consolidation vs. Credit Counseling: What’s the Difference?

Managing Debt

Debt Consolidation vs. Credit Counseling: What’s the Difference?

Debt Consolidation vs. Credit Counseling: What’s the Difference?

When escaping the country and hiding from the law are your best ideas for dealing with debt, you know you’re in trouble. Pamela has gone through “a few bad years,” she says. Hurricane Katrina hitting her Gulf Coast community followed by a series of low-paid jobs left her with almost $60,000 in debt. Pamela has… Read More

Seniors: Who’s Managing Your Debts?

Managing Debt

Seniors: Who’s Managing Your Debts?

Seniors: Who’s Managing Your Debts?

Fran Hansen seemed to be doing just fine. She had a mortgage and credit cards, and she “never missed a payment” on any of her cards and always “paid my mortgage on time faithfully!” a Credit.com reader using the screen name Fran Hansen said in a recent comment to the blog. But Hansen’s children were worried…. Read More

Credit Counseling Payments Too High? Try Again!

Managing Debt

Credit Counseling Payments Too High? Try Again!

Credit Counseling Payments Too High? Try Again!

If you’ve looked into credit counseling earlier this year but found the monthly payments too high, you may want to try again. As part of an initiative spearheaded by the National Foundation for Credit Counseling (NFCC) to help more people pay their debts through a credit counseling agency and avoid bankruptcy, the top ten credit card issuers have agreed to offer new reduced payment programs.

What Happens When you Call a Credit Counselor?

Managing Debt

What Happens When you Call a Credit Counselor?

What Happens When you Call a Credit Counselor?

Millions of Americans are looking for help with their credit and financial situations for the first time this fall. Programs like HOPE Now offer help to people who are struggling to avoid foreclosure. Credit counseling programs promise to help people get their debts under control. So what actually happens if you call for help?

A Story from the Front Line of the Credit Crisis

Personal Finance

A Story from the Front Line of the Credit Crisis

A Story from the Front Line of the Credit Crisis

What stunned me most was the answer that the mortgage company gave me about getting help, “in order for us to help you, you need to default and go into foreclosure on your loan” I asked her to repeat what she said; I was flabbergasted.

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