There’s something very satisfying about crossing off items on your to-do list. The snowball method of paying off debt benefits from this bit of human psyche. Here’s how it works and how to know if it’s the right method for you. What is the snowball method? The debt snowball method...
The states where people have the most unpaid medical bills
Income inequality in America is at its highest point in the last 50 years, according to recent data from the U.S. Census Bureau. Nearly a third of U.S. households have more credit card debt than they do emergency savings. But it’s not just overspending or inadequate incomes to blame. A...
The tricks of debt settlement: 5 sketchy things to watch out for
For many Americans who struggle with debt that would take years to pay off, relief could come in the form of debt settlement. However, the tricks of traditional debt settlement are sometimes hard to spot. Here we’ll explain what debt settlement is, how it works and five sketchy things to...
States where people have the most & least student loan debt
In 2019, student loan debt in the United States hit $1.6 trillion, the highest it's ever been, according to data compiled by the Federal Reserve Bank of St. Louis. But that debt doesn’t affect all borrowers equally. While 34% of adults ages 18 to 29 have student loan debt, according...
Is your debt time-barred? A state-by-state guide to debt statutes of limitations
Hearing from a debt collector can understandably make you feel very uneasy. That’s especially true if it’s about an old debt. Maybe you thought the debt was long forgotten or it had already been paid. Maybe you’re not even sure the debt is yours. But even if it is is,...
Can being an authorized user on someone else’s credit card help build your credit?
Building up good credit can be a daunting task, especially if unfortunate circumstances have brought your credit score down. But luckily there are a variety of things you can do to push your credit back into the green. One of them is becoming an authorized user on someone else’s credit...
What does it mean to have my unpaid debt charged off?
If you’ve ever fallen behind on paying a debt — credit cards, a car loan — you know what usually comes next. You’re charged late fees, your interest rate might go up, your credit scores take a hit and your lender starts getting in touch. But if you fall really,...
What to do if you have medical debt you can’t pay
If you have medical debt you just can’t deal with, you’re definitely not alone. About 43 million Americans have unpaid medical debt. And for many people, mounting medical bills mean mounting stress. Medical debt is unique in many ways, including that it’s rarely voluntary and often unexpected. Along with a...
Top 10 states with the most Chapter 7 bankruptcies
When it comes to why more people file for Chapter 7 bankruptcy in some states than they do in others, many factors come into play. States with high divorce rates, low median incomes and temperamental job markets can all cause bankruptcy filings to be higher, according to Michael Bovee, who...
Help, I’ve been sued by a debt collector!
If your old debts have been turned over to a collection law firm and you’ve been avoiding their letters, calls and other attempts to collect your debt, don’t be surprised if the firm takes legal action with a lawsuit. Editor’s note: This article picks up where our article, Collection law...