Credit Counseling is free service that helps consumers struggling with credit card debt determine their options. It includes a free budget and action plan for getting out debt.
If a low credit score or mistakes with credit in the past are keeping you from obtaining new credit, you may be considering credit repair. Offered by for-profit companies, credit repair is a process that claims to “clean up” a consumer’s credit report by removing any incorrect negative items. Once these negative items are removed, most consum...
When you’re struggling with high levels of credit card debt, it can feel like your only option is to keep paying as much as you can each month and wait for the debt to someday go away. But paying minimum payments on multiple credit cards can feel like running on a hamster wheel: you’re working hard, but not really getting anywhere. Fortunate...
It happens all the time. You’re buying something at a store and as you’re getting ready to pay, the cashier asks if you’d like to open the store’s credit card to save 10 (or 15 or 20) percent on your purchase — then they mention that it takes just a few seconds to apply, right there on the keypad. In some cases, you will still get the dis...
We all do our best to avoid them, but financial setbacks are an unfortunate fact of life. They can be events on a national scale, like the 2008 housing crisis, or something more personal such as job loss, major illness or excessive credit card debt. And they can strike at any time, even if you’ve been financially stable for years. But no matter w...
Dealing with high levels of credit card debt can be stressful and overwhelming. Simply making minimum payments on multiple accounts every month means paying off that debt for years to come. Fortunately, there are options that can help borrowers get out of debt more quickly. But not all options have a positive effect on consumers’ financial future...
No matter how well you budget or how skilled you are at stretching a dollar, everyone is hit with unexpected expenses from time to time. Recent statistics suggest that approximately 57 million Americans don’t have money set aside to pay for an unexpected expense. But whether or not those expenses are the start of a downward financial spiral is up...
Debt settlement can be an appealing option to consumers struggling with high levels of credit card debt. Because it allows borrowers to pay less than the total amount they owe, they think they’re getting a better deal than if they had to pay off the debt in full. But what many don’t realize is that settling debts can have major long-term implic...
Very few people breeze through life without making some financial mistakes. Whether it’s getting behind on bills, getting talked into a bad investment, loaning money to a friend or family member who fails to pay it back, or any other money mishap, it can stop you from working toward your financial goals. Fortunately, though, it doesn’t have to....
Debt settlement is one option for dealing with problem credit card debt. Consumers who choose this option work with a for-profit debt settlement company. The company negotiates with creditors to reach a settlement agreement for less than the total amount the consumer owes. During the negotiation process, the consumer opens and makes deposits into a...
Carrying credit card debt can leave you feeling like you don’t have many choices. But the fact is, you don’t have to be stuck making minimum payments on multiple cards. There are alternatives that can help consumers pay off credit card debt more quickly and avoid paying years of high interest charges. One of those options is debt settlement....