Resource Center - Debt

Choose from the resource categories below to discover and learn more about personal finance across the topics of budgeting, debt, income, insurance, investing, and retirement.

Coping with Debt

Having trouble paying your bills? Getting dunning notices from creditors? Are your accounts being turned over to debt collectors? Are you worried about losing your home or your car? You’re not alone. Many people face a financial crisis at some point in their lives. Whether the crisis is caused by personal or family illness, the loss of a job, or overspending, it can seem overwhelming. But often, it can be overcome. Your financial situation doesn’t have to go from bad to worse.... Read More >>>

A Step-By-Step Guide To Get Out Of Debt

You know you have too much debt and you need to pay it off. Now what? There are plenty of ways to solve a debt problem, but you have to take the same steps to discover which solution is right for you. This guide walks you through the process so you can find the best option. Step 1: Assess the damage - It’s scary, but often people who are struggling don’t even know exactly how bad the situation is. You start to fall behind and stop paying attention to the bills because it’s just too depressing.... Read More >>>

What Not To Do When Seeking Debt Relief

When you’re struggling to make ends meet because of debt, you need to find a solution that allows you to get back on track as quickly as possible. Of course, if your payments are too big and interest is making it impossible to make a dent in what you owe with a simple budgeting strategy, then it’s going to take more aggressive action to get ahead. What you don’t want to do is make your situation worse – and if you’re not careful, that’s exactly what you can do. You can also hurt your financial... Read More >>>

Using A Debt Management Program

When you’re struggling with debt, there’s not one right way to solve the problem. You have consolidation, debt management programs, debt settlement, and in the worst case scenario, there’s bankruptcy. So how do you know which debt solution is the right one for you? Two factors that define your path forward - In truth, there are two main factors that determine which debt solution you need to regain control. The first is your personal credit rating and financial standing. In a best case scenario,... Read More >>>

How (and when) debt settlement works

In an ideal world when you have too much credit card debt, you find a solution that allows you to pay back everything you owe so you can minimize any credit damage. Unfortunately, eventually anyone can reach a point where your debt-to-income ratio is so high that you can’t possibly pay back everything you owe in a reasonable amount of time – if ever! In addition, if your debts are too far gone and are in default, some solutions may not even be available. You can go through bankruptcy, but if you... Read More >>>

The Pros and Cons of Your Debt Solution - Weighing your options for debt

Debt solutions are not one-size-fits-all – and that’s a good thing. If they were then you’d need a very specific set of circumstances to get out of debt. Instead, you have a wide-range of options available depending on your situation. Of course, all of these options have some upsides, but they all have some potential downsides as well. So when you choose a debt solution, it’s about maximizing the good and minimizing any potential negatives that your solution may bring. The information can help... Read More >>>

What Is Credit Counseling… And Why Do I Need It

So you know you’re struggling with credit card debt and that you need to find a solution that will help you reduce the debt quickly without damaging your credit too badly. Easy. Just type “credit card debt help” or “credit card debt solutions” into your favorite search engine and find what you need, right? Sadly, no. So debt solutions come in a variety of different breeds. Which breed will play the best with the rest of your financial outlook is largely dependent on your situation. So what works... Read More >>>

Credit Card Debt Consolidation - How to consolidate debt

Credit card debt has a way of causing problems for your financial outlook. Unlike other debts that have fixed payments you can plan ahead for in your budget, the monthly bills on your credit cards vary depending on how much you owe.This may mean you have to pay the whole balance off every month (like what you see with an AmEx card) or that you pay a percentage of balance plus added interest (like what you see with most Visa and MasterCard accounts). But in either case, you can’t always plan... Read More >>>

Useful Credit Card Debt Statistics

Credit cards can help us – especially in a financial emergency. But while they can be a saving grace in a time of financial need, or the perfect tool to help you live the life you want, they can also ruin your financial health when they’re abused. Take a look at America’s credit card spending. Most Americans have a love/hate relationship with their credit cards – so if you curse and covet credit at the same time, you’re not alone. These stats can help you see where you stand so you can make the... Read More >>>

How Credit Card APR Really Works

So you know that your credit cards have an assigned interest rate. Hopefully you also know that whatever rate you’re being charged, it means that your purchases cost more over time with interest added. But do you really know what that means for your debts and for your budget? Becoming an APR expert will help you avoid credit card debt problems so you can truly control your financial life. Here’s everything you need to know to get ahead…Credit card APR is the interest rate charged on debts you ac... Read More >>>