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Can I get a debt consolidation loan if my credit is bad?

Americans have trillions of dollars in debt, and so naturally, there are plenty of people out there thinking about ways to pay theirs off. For some, a debt consolidation loan could be an attractive option. With a debt consolidation loan, you take out a new loan and use it to…

This man paid off $46,500 in student loans in two years with this one simple trick

If Steven Donovan could sum up his thoughts on taking out loans to pay for his education, it would be “nonchalant.” “I understood it as, ‘I want to go to school, so I’ll need to take out loans,’” said the author and founder of Even Steven Money. He planned to…

How this couple crushed their debt (and how you can, too)

While taking the train home from work last spring, Amber Hacker stumbled on a Facebook post that changed her life. “It was one of my MBA classmates who had posted that they had paid off all their loans. I thought, ‘Wait a second, you can do that?’” she says. “I…

Getting Married? How to Talk About Debt Before You Say I Do

You’re in love. You’re planning to get married. Ready to talk about money? Apparently 88% of Americans think that conversation is important, but only 51% ever get around to having it, according to a SunTrust survey. There is a long-standing taboo about money talk in this country. And although two…

Can Your Debt Cause You to Lose Your Tax Refund?

If you’re expecting a tax refund, you probably already know how you’re going to spend it. But there’s a chance your refund won’t hit your mailbox or your bank account at all if you’re behind on certain debts. Through the Treasury Offset Program, the government can seize some or all…

The difference between debt management & debt settlement

If you’re experiencing the weight of credit card and loan debt and are falling behind on payments, you may be considering debt relief solutions. Among your options are debt settlement and debt management, but they are very different approaches. How do you decide which is best for your situation? Two…

Best debt management program reviews

If you find yourself deep in debt you may be considering getting help from a professional. That could mean enrolling in a debt management program (DMP) through a credit counseling agency. Most of these agencies are nonprofits that offer free or low-cost financial services like budget planning, housing advice, debt…

Debt Consolidation vs. Bankruptcy: What’s the Difference?

If you’re on the brink of going deeper in debt and facing late payment fees, you may be considering debt relief options. Consolidation and bankruptcy are quite different, but both are worth considering to get on a path to a clean financial slate. What is debt consolidation? Debt consolidation usually…

Debt relief vs. credit counseling: Which is right for you?

Navigating your debt relief options may seem daunting. Debt relief and credit counseling are just two major types of debt management you might consider. With debt relief, you hire a company to negotiate a settlement with your creditors. With credit counseling, you get access to services ranging from budget planning…

Debt Consolidation or Chapter 13 Bankruptcy: Which is Right for You?

If you’re considering consolidating debt or filing Chapter 13 bankruptcy, you’re likely facing serious financial distress. Both debt relief solutions may offer you a path to recovery but also present some challenges worth understanding. What is debt consolidation? Debt consolidation usually means taking out a large loan from a creditor…

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. While both options involve combining several outstanding balances into one balance that you can make a single payment for…

How do debt management companies 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. That can seem even more pressing if you’ve already missed some payments, which causes your credit score to drop, interest rates to go up, and…

What is debt management?

If you’re struggling with mounting debt you probably already know the challenges that high interest rates and missed payment fees can present. In fact, if you’re making just the minimum payments on your credit cards, it could take you up to 20 years (depending on your balances and annual percentage…

Frequently Asked Questions

What is a Debt Management Plan (or DMP)?

A Debt Management Plan (also known as a DMP) is…

Is Debt Management the same as Debt Consolidation?

Nope. Debt Management usually involves working with a Credit Counseling…

How does a DMP work?

In order to begin a DMP, you will need to…
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