It’s never a good time to be in credit card debt, but I’ll be honest: the nasty economic climate makes it an even worse time to be in debt.
Creditors are jacking interest rates and employers are slashing jobs—a combination that could land any of us between a rock and a very hard place. If you haven’t taken action on your unpaid debt yet—or have slipped from your plan—reread these eight fundamental ways to dig out from under your credit card debt. [...]
Believe it or not, bankruptcy is not a dirty word. Yes, it’s far better to never go into bankruptcy. Most people seem to get that. But what many do not understand is that sometimes, bankruptcy isn’t just a way to protect yourself from creditors—it is sometimes the best financial decision you can make. [...]
Are you a cold-blooded killer? I hope to be. I wake up some mornings in a cold sweat because for the past ten years, I’ve been in an abusive relationship. My abuser? Lots and lots of debt. I’d never advocate killing a person, but I do advocate this: Murder your debt. And start planning now. If you’ve been carrying debt around for a while saying you’ll make a plan to pay it down soon…that time must be now. Unless you like living really dangerous, the global economy is just too uncertain for you to be in debt. [...]
Jessica writes: I’m a 23-year old undergraduate student with tons of debt that is all in collections. I only make $50 a month plus room and board as a residential assistant. I feel overwhelmed because I just can’t do anything about it right now. Do I have any options? [...]
Pam asks: Three years ago I racked up debts on several credit cards. I paid those cards off and closed them. Today, my only card has a 19% APR and no rewards. My credit score is only about 600 because I was (quite) late a few times. Today, I am debt free except for $3,000 on this card. I’ll pay it off in a year, but I hate paying 19% interest. Can I qualify for a balance transfer credit card? [...]
Credit card and loan delinquencies are on the rise, reports the American Bankers Association. Existing mortgage woes, a shaky job market, and rocketing gas and food prices may be to blame, but falling behind on credit card payments is bad, bad news for all of us. Even those who with spotless payment records may begin to see interest rates creep up and credit limits shrink as banks adjust their credit card products to reduce risk. If you fear you may soon have trouble making credit card payments – or have already fallen behind, here’s what to do. [...]
Struggling with credit card debt? Low-rate balance transfers can save you wasted cash. But before you transfer a balance, double check to be sure moving your balance won’t do more harm than good. [...]
Vacations, whether on a local beach or exotic foreign city, are important rewards. Getaways both motivate and rejuvenate, and after a year of hard work, we deserve it.
Unfortunately, what we deserve and what we can afford can be two entirely different things. Here are six ways to save on your next vacation, so you don’t have to say: “I’ll have another Mai Tai and $623.94 in finance charges please.” [...]
Debt management (also called credit counseling) is a booming industry these days as more and more consumers drown in credit card debt. With ads promising easy debt relief, these programs are tempting to anybody struggling to stay on top of debt. But are they legit? Will they help you or hurt you? Here are 10 things you need to know before working with a debt management agency—both pitfalls to watch out for—but also benefits you can expect. [...]
I turned 27 this year, and my mailman started delivering more wedding invitations than bills. It sounds lovely, except that those damned lacy invites end up costing more than the bills! My opinions of showers and gift registries aside, all this nuptial nonsense got me thinking: Is it safe to get married when one partner, or both, has a lot of debt? [...]
