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.

Credit Card Interest Rate Negotiation

Negotiating with your creditors isn’t always reserved for when you’re facing financial challenges. With the right strategy, negotiating during the good times can help you get lower interest rates so you can improve your financial outlook overall. With lower interest you save money over the life of your debts, which leaves more cash flow available in your budget for other things. It’s important to note that this isn’t something you usually do when you’re struggling and looking for debt relief.... Read More >>>

Balancing Credit Card Rewards with Low APR

Using credit as effectively as possible can be a fairly delicate balancing act – especially if you’re trying to take advantage of rewards like travel miles or cash back. You want to maximize your rewards, but you also don’t want to pile on a lot of extra added interest. So how do you strike the right balance between earning the rewards you want and keeping interest charges on purchases to a minimum? The information in this section is intended to help you get the most out of using your credit... Read More >>>

The ABCs of Credit Card Balance Transfers

Balance transfers are a popular form of debt consolidation because they provide a means to fix your financial troubles on your own. However, a balance transfer done incorrectly or in the wrong circumstances can actually cause more financial trouble than it will fix. So how do you execute a balance transfer successfully and how can you know for sure you are making the right decision for your finances? The information in this section explains balance transfers so you know what to expect, when... Read More >>>

Are Children Responsible For Paying Deceased Parents’ Credit Card Debt

Claims against the estate may reduce your inheritance. It’s the age-old bad joke of inheritance. Kids expect to get a lot assets, and wind up getting a lot of debt instead when they take over the estate. But is it true? And does it mean that you’ll be paying your parent’s Visa and MasterCard bills after they’re gone. Just to be upfront, the answer to that last one is “No.” But that doesn’t mean that your parents debts won’t have any impact on your inheritance. It’s just not as bad as you may be... Read More >>>

Can I Buy A Home After Debt Consolidation

How to make sure consolidating debt doesn’t delay your dreams. The right debt solution minimizes the damage you do to your financial future. Things like bankruptcy and foreclosure cause severe credit damage and can prevent you from doing things like buying cars and homes right after they happen. But what about different forms of debt consolidation? Consolidating debt is usually one of your first lines of defense against the bad outcomes of severe financial distress, but can the solutiion... Read More >>>

Can I Go to Jail for Credit Card Debt

Nobody wants to go to jail, and certainly people who’ve never committed a serious offense don’t want to be locked up with harden criminals because they skipped out on paying a credit card debt. That’s what makes this such a tempting threat for collectors to use because it puts the fear of prison in people and gets them to pay. That’s illegal by the way, according to the Fair Debt Collection Practices Act. Collectors can’t threaten you with jail time because failure to pay a credit card debt.... Read More >>>

How Do I Know Which Debt Relief Company To Trust

Enlisting the help of an outside party for debt relief isn’t easy – you have to trust someone else with your sensitive financial information and trust that they’re going to do the right thing to help you regain stability. So been fears of fraud and concerns over complete incompetence, how can you find a company that you can really trust to do the job you need efficiently and effectively?... Read More >>>

How Long Do I Have To Pay Off A Credit Card Balance

Almost anywhere you look on our site from the Debt Help section to the Tips, we’re promoting the idea of paying off credit card debt as quickly as possible. It helps you avoid bigger problems and save money on high interest rate charges. But what about when paying the debt off fast isn’t in the cards? What then? When you’re at the other end of the spectrum with credit card debt and struggling to make your minimum payments, you could be in for quite a journey. The information below can help you... Read More >>>

The Truth About Debt

Myth: Debt is a tool and should be used to help create prosperity. Truth: Debt isn't used by wealthy people nearly as much as we are led to believe. Debt is dumb. Most normal people are just plain broke because they are in debt up to their eyeballs with no hope of help. If you're in debt, then you're a slave because you do not have the freedom to use your money to help change your family tree. According to a USA Today article about debt, 78% of Baby Boomers have mortgage debt, 59% have credit ca... Read More >>>

How Many Credit Cards Is Too Many

Sifting through your stack of credit cards, it's natural to wonder if you have too many. Or, if you're considering opening new credit accounts, you want to be sure another credit card won't affect your credit. "How many credit cards is too many?" is one of those questions that doesn't have a one-size-fits-all type of answer, but there are a few ways you can judge whether you have too many credit cards for you.... Read More >>>