Making student loan payments isn’t always easy. And it becomes extra challenging if your income drops, you decide to go back to school, or you’re experiencing a health issue. Student loans offer two somewhat unique options — deferment and forbearance — to get you through times when making your payments becomes…

Legally, it’s true that debt collectors could get a judgment in court that would force you to sell your home to repay a delinquent debt. In practice, however, this rarely ever happens.  That’s because forcing you into an involuntary foreclosure is costly and time-consuming, says debt relief expert and Resolve…

For many people, the biggest asset they own is their home. But the only time that asset’s value is actually usable is when they sell their home or borrow against their equity. One example of the latter is a reverse mortgage. Despite its name, a reverse mortgage is actually a…

Car title loans are one type of fast funding that carry a steep price in terms of interest and fees. These short-term, high-interest loans put you at risk for losing your car if you can’t repay them. Here’s how they work and other options to consider. How car title loans work…

Believe it or not, you can call your credit card company and ask them to lower the interest rate on your card. Even more surprising? They might actually do it. A CreditCards.com survey found that of the 19% of people surveyed who asked for lower interest rates, 69% were successful.…

It’s a common fear around filing for bankruptcy — that it means you’ll lose your house. While it’s true that can happen, it’s by no means a foregone conclusion. Here’s what you need to know about the impact of bankruptcy on your house. Whether you can keep your house or…

Crack open your wallet and pull out your credit cards. We bet there’s a very good chance at least one of them is a Visa or Mastercard. Here’s the difference between them and how to choose the right credit card for you. Visa and Mastercard: What they have in common Of…

If your credit card bills are coming in fast and furious, and you’re having a hard time keeping up, you’re probably hoping for some relief. And in some cases, you might be able to get it by negotiating directly with your credit card company. Many credit card issuers offer hardship…

Financial issues happen to the best of us. Even if you’ve never missed a credit card payment before, you might fall behind if you lose your job, get sick or have a big expense pop up. A few missed payments can quickly bring headaches when the late fees and higher…

The holidays are done, the gifts have been unwrapped and all you’re left with in the new year is a big fat credit card bill. From gifts to holiday parties to flights to family, it’s easy to spend more than you were anticipating in the span of a few short…

Because holiday gifts aren’t always a line item in a budget, it’s easy to see why last-minute purchases can end up on a credit card. And while it’s tempting, it’s best if you can avoid doing this at all costs (unless you can pay off the balance in full). Here…

The Federal Reserve estimates that Americans have more than $4 trillion in consumer debt. That’s a lot of money. So if you’re staring down a large debt bill, remember this: You’re not alone. And not only have other people been in your shoes, they’ve also found a way out —…

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…

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,…

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,…

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…

If paying down debt is in your financial forecast, there are two techniques you might want to consider: debt snowball and debt avalanche. These similar methods are a good fit if you can afford to make the minimum payments on all of your debt, plus a little extra.  If done…

Negotiate, negotiate, negotiate. That’s the mantra to remember if you’re behind on your medical bills or facing a medical bill you can’t afford.  Understandably, most people want to avoid having medical bills send them into bankruptcy. In most cases, the sooner you deal with your medical debt, the better. For…

If someone lives in a state with a high divorce rate, an unstable job market, low wages or a slew of natural disasters, that can all cause personal bankruptcy rates to be higher, according to Michael Bovee who has worked in debt resolution for 20 years and is the co-founder…

The way people feel after going through bankruptcy can vary widely. Many feel relieved, some frustrated, others battle-worn. It partly depends on the road they took to get there. One thing on their minds is the hit their credit score took in the bankruptcy process. Here are six ways to…

Your credit score dictates a lot about your financial situation, so it’s understandable that you want to protect your score and keep it as high as possible. If past financial mistakes are dragging down your credit score, there are legitimate ways to try to correct them. Here’s how to avoid credit…

If you have student loans, or will soon, you’re in good company. Nearly 44 million Americans owe almost $1.6 trillion in combined student loan debt. Federal student loans make up the biggest portion of this outstanding student debt at more than 92%. If you have a federal student loan, here’s what…

Many people have misconceptions about bankruptcy. Not just the process, but also about the future fallout that comes from declaring bankruptcy. While bankruptcy should be taken seriously, it’s often not as scary as people think, said Michael Bovee, co-founder of Resolve. “People are so afraid of bankruptcy, they don’t even…

Tax man troubles. Bad investments. Shady financial advisers. Lavish spending. These are some of the pitfalls that lead the rich and famous to file for bankruptcy. Here are seven of the most famous celebrity bankruptcies. Most famous folks end up filing Chapter 11 bankruptcy, a much less common form (6,891 filings…

If you find yourself in over your head in debt it might feel like there’s no chance of relief, but you do have options to manage your debt. In fact, there are many ways to take control of your finances and get back to a healthy situation. Here we will…

The best defense against being sued for credit card debt is, of course, to pay your debts before that happens. That doesn’t necessarily mean paying them in full or right away. But even if you’ve already received notice of a lawsuit, it’s not too late to settle your credit card…

If you’re in debt and don’t see an easy way out, you might have started investigating your options. That could include two similar-sounding debt relief options: debt management and debt consolidation. What’s the difference? While both options involve combining several outstanding balances into one balance that you can make a…

If your debt is piling up, and you’re finding it tough to stay on top of your payments, you might be looking for some relief. One option to consider is working with a debt management company. Getting relief can seem even more pressing if you’ve already missed some payments, which…

If you’ve fallen behind on a debt, and the debt collectors are calling, you’re probably under a lot of stress. It’s important, though, not to panic and to come up with a plan of action. Here’s how to settle with a debt collector. The first thing you should know is…