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Debt

Tips to Settle Credit Card Debt

By Melinda Opperman Settling debts is not easy. Many individuals ask us for tips to settle credit card debt. Settling your debts may be possible when a verifiable hardship exists, such as medical problems, unemployment, underemployment, divorce, or death of a family member. Recent credit card debt is more difficult to settle than other kinds of debt (medical debts in particular are generally a good candidate for settlement). The customer …Read More

How to Get Out of Debt

By Lauralynn Schueckler The recent recession affected the financial lives of people all over the country. The recession led to much higher rates of unemployment and underemployment. Because of this, many people needed to rely on credit cards to meet all of their financial obligations and pay for emergencies that arose. While this may have been a good short-term solution, many now find that they have an insurmountable amount of personal …Read More

The Value of Credit Counseling in Everyday Life

By Lauralynn Schueckler Credit counseling is often an overlooked free financial tool in our busy everyday lives. We need good credit for everything these days as we transition to less and less cash in our lives. The truth is good credit is not only for financing, but it’s also essential in setting up utilities, getting a cellular phone, or even landing a job. Unfortunately, most people only really think about …Read More

How to Start ReducingYour Credit Card Debt

By Melinda Opperman If your credit card debt is keeping you from reaching your personal financial goals, and you’re ready to concentrate on paying off your credit cards, here are a few tips to help you get started. 1. Make a budget. If you haven’t already made a budget this is a great first step towards paying down your credit card debt. Until you’ve created a budget it’s hard to …Read More

How to Handle Student Loan Debt Collectors

By Lauralynn Schueckler When you default on a student loan, the government will usually hire debt collection agencies to collect on these loans. It’s not quite as straightforward as you might like to think, to try and get this loan to just disappear. The collection agencies are sometimes known to twist their words around to get what they want, while leaving you confused and hanging. Everyone needs to be aware …Read More

Elderly Mom Destitute With Credit Card Debt

By Erica Sandberg Erica, My mom is 77 years old. She lives in a one-bedroom apartment and has no assets (no car in her name, no IRA, no stocks, no retirement income, absolutely nothing). She lives entirely off her Social Security check each month. However, she managed to rack up about $15,000 on a credit card that she can no longer pay. She has no savings left. I consulted a …Read More

Destroy Your Debt

By Mark Foster It’s more fun racking up debt than it is paying it back. But, to have some measure of financial freedom in your life you need to focus on destroying your debt.  The 2012 NFCC Financial Literacy Survey showed that 39% of adults carry card credit card debt over from month-to-month. Don’t be content with merely paying the minimum due on your credit card debt, or else it …Read More

How To Mess Up Your Financial Life

By Matt Bell I thought I knew a thing or two about making financial mistakes.  After all, I’m the guy who once received a $60,000 inheritance and turned it into $20,000 of credit card debt.  And it only took me two years! I messed up with money the old fashioned way.  I didn’t pay attention to my income and expenses and blindly went about living beyond my means. But I …Read More

Americans Strongly Value Paying Down Debt Over Saving

According to the August poll hosted on the NFCC’s website, 89 percent of more than 2,900 respondents value paying down debt over saving money. “People often debate which is more important, to be debt free or to have a robust savings account, and the answer is both,” said Gail Cunningham, spokesperson for the NFCC.  “As important as it is to handle debt responsibly, the truth of the matter is that the …Read More

Dealing with Debt Collectors

By Jason Alderman Senior Director, Visa Inc. If you’ve ever fallen far behind on paying your bills, you know what it’s like to dread whenever the phone rings: What if it’s another bill collector? Ignoring the call – like ignoring a toothache – is never a good idea, however. Sooner or later, you’re going to have to deal with the situation. According to Gail Cunningham, spokesperson for the National Foundation …Read More