Credit & Debt Management

Disclosing financial hardship is sometimes a necessary part of restructuring your finances. Creating your own free financial hardship disclosure template can be a way to avoid foreclosure and...

In some cases, taking care of credit card debt means getting the monthly payments down to where they fit into your budget. In others, you may have the strong desire to pay off your credit card...

If you have trouble paying your unsecured debts, such as credit cards or medical bills, but do not want to declare bankruptcy, consider debt settlement as a possible solution. Debt settlement...

Millions of Americans find themselves in massive debt each year. If you're in this situation, you can pay off your debts---even the large ones---as long as you're willing to develop a plan to...

If you cease to make payments on your credit card debt for long enough, the account will be charged off by the credit card company. A charge-off can result in a lower credit rating and possibly...

Paying off your credit card debt may seem like a long process, but with some advance planning you can eliminate your debt more quickly than you think. The extremes you may have to go to depend on...

Credit is how most individuals and businesses thrive. Having bad credit can be detrimental to one's financial existence because loans and unsecured credit cards can be impossible to get....

Falling behind on payments to a credit-card company can cause serious financial problems. Creditors add late fees and other penalties, and they report negative remarks to credit agencies, which...

Filing bankruptcy can damage a person's self esteem as well as his credit history, but there is an upside. When the discharge is complete, you have a devastated credit score, but you have no debt...

Many companies tout their ability to repair your credit or settle your debt for pennies on the dollar. However, these companies often charge exorbitant fees and fail to deliver their promises....

Many Americans have fallen behind on credit card payments at one time or another, often because of job loss, financial strain or irresponsible card usage. If you find yourself behind on credit...

Building good credit is a fairly simple and straightforward process. When you obtain a credit card, loan or line of credit, it will most likely automatically begin to report to a credit reporting...

The idea of creating a new credit profile may sound alluring if your finances and credit history are unstable, but most offers to facilitate this process walk a fine line with legitimacy. Rather...

There are countless negative impacts to filing a personal bankruptcy. More employers are using credit reports as a hiring metric; the process itself can be grueling, and it devastates personal...

Thanks to federal law you can request a free copy of your credit report annually from each of the three credit reporting agencies. You can request the report from all three agencies at the same...

The question may be hanging over your head like a black cloud: Should I try to repay my debts, or should I file an exemption on my assets under Chapter 13 bankruptcy? The short answer: You should...

Having a bad mark on your credit report can greatly affect many situations, from securing a good loan for a house or car to getting a job you've applied for. Removing a mark from your credit...

A better credit score can help you get a lower interest rate on your next home or auto purchase and instant credit at a department store when you are shopping for home appliances. If you have...

A time-barred debt is a debt for which the legal statute of limitations has expired. The statute of limitations for debt collection varies for each state and regulates the amount of time a...

Living beyond your means and incurring debt is stressful. But with a little savvy saving and a debt payment plan, you can still live well while also being financially responsible. Here are tips...

There are times when debt becomes so overwhelming, that you don't think you can afford to make even the minimum payment. When that is the case, it is possible to make partial payments, however...

Most people loan money to relatives without any type of contract, other than a handshake or a verbal agreement. If a relative defaults on a loan, collecting what is owed may be difficult and...

Legal bills can range from a very minimal amount to thousands of dollars, depending on your situation. How you pay for legal obligations will largely depend on the amount of your legal expenses. ...

One of the most frustrating aspects about credit card debt is how long it can take to pay it off. Each month you make a minimum payment, but it seems to barely reduce the total balance. It's easy...

Credit cards can come in handy for emergencies, or for times when you do not have cash available for a purchase. Sometimes people end up in a financial situation where they are unable to pay the...

Avoiding and eliminating credit card debt is essential to achieving financial success. Carrying credit card debt comes with a hefty price, known as interest. By avoiding credit debt in the first...

When you apply for a loan or a credit card, you may not always get a positive response from the creditor. Based on the information they receive from one of the three major credit reporting...

Settling your credit card debt for 50 percent of your total balance is possible, but the degree of difficulty will vary depending on the individual situation. For example, someone who appears to...

Paying off your debt in a short amount of time is a goal that will not only help you save more of your money in the long run, but will help your credit score and your peace of mind. Paying off...

Managing your credit is an important part of life. Every person has a credit score, which is a numeric representation of your ability to obtain credit and pay your bills on time, according to any...

A prepaid credit card, also called a secured credit card, is a good option for those who haven't yet established credit or who have poor credit and are trying to rebuild their credit scores. A...

When an individual defaults on a debt and the debt is purchased by a collection agency, the agency often has to go to great lengths to track the debtor down in order to request payment. Many...

After a spouse dies, one of the more difficult aspects of squaring things away is settling his credit card debt. As a rule, debts are paid from the decedent's estate, which is handled by an...

High-interest debt of any sort can be crippling to your personal finances. Payday loans, in particular, are often among the most difficult type of loans to pay down due to their exceptionally high...

As of March 2009, the U.S. revolving consumer debt was approximately $950 billion, made up mostly of credit card debt with the average American having 13 credit obligations on record. Debt...

Financial institutions and other lenders take into account your debt-to-credit ratio, along with other information, to determine if they will lend you money and at what interest rate. It is...

Negative information on your credit report causes your score to plummet. Low credit scores impact everything from obtaining a mortgage to being hired for a new job. Three major companies handle...

Credit and debt are big issues in this economy, and credit repair has become very important as well. A good credit score is important for many financial transactions, so it is important for those...

A debt consolidation loan can help you out of a tough financial situation. If you have more bills than you can afford to pay then you need to do something now. use a debt consolidation loan to...

Forty-six percent of people with credit cards in the U.S.A. have a balance on them. In order to keep your credit ratings up, know how to avoid late fees on your credit cards. If you don't it...

The following explains exactly what you need to do to destroy your credit. Of course, the opposite advise could be used if you wish to restore it.

Having credit cards lets you charge expensive items that you couldn't afford to buy if you had to pay cash. Using credit cards, it's easy to let spending get out of control. Don't be afraid to...

Identity theft is a serious crime that can affects a person's personal data and financial status. A person's personal information such as a bank account number or social security number can be...

Developed by the Fair Isaac Corp., a FICO score is a number from 300-850 that you're given based on your credit and payment history. Having a higher number is desirable and will make it easier to...

Credit card interest rates and fees hurt your bottom line. Those who are trying to cut back expenses and live a more frugal lifestyle struggle with paying down credit card debt. Looking at the...

A number of people have an excessive amount of consumer debt, including credit cards, lines of credit, automobile loans, home equity loans and mortgages. Having too much debt can be painful and...

You can get your credit score directly from one of the three consumer reporting agencies or from AnnualCreditReport.com when you request your credit report. Unlike your free annual credit report,...

When applying for any type of loan, your credit report is pulled. Listed on your credit report is every loan that you have had in the past in addition to any collections, liens, or judgments that...

Unsecured debt is debt that doesn't have collateral attached to it. That is, the creditor doesn't have anything to take from you should you fail to make payments. Credit cards are an example of...

Negative credit can result in the denial of loans, insurance, and employment. It can result in higher rates for standard services like cell phones. Therefore, it's important to know your credit...