Visa vs. Mastercard: What’s the difference and how do I choose?

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…

How to negotiate directly with your credit card company

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…

What are credit card hardship programs and how do I know if I’m eligible?

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…

6 ways to dig yourself out of holiday debt

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…

6 ways to prevent holiday debt

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…

What to do if you've got $100,000 in credit card debt

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 —…

What is the snowball method of paying off debt?

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…

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,…

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,…

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…

Debt avalanche vs. debt snowball: Here's what you need to know

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…

How to negotiate medical bills and avoid medical bankruptcy

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…

U.S. states with the highest bankruptcy rates

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…

6 steps to rebuild your credit after bankruptcy

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…

How to avoid credit repair scams

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…

Federal student loan repayment options explained

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…

8 bankruptcy myths you should stop believing

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…

7 celebrity bankruptcies and what you can learn from them

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 (7,735…

Credit counseling vs. Chapter 13 bankruptcy: Which is right for you?

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…

How to settle credit card debt before going to court

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…

How debt management differs from debt consolidation

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…

How does a debt management company work?

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…

How to settle with a debt collector

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…
Jennifer Thomas

Jennifer Thomas

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