Debt
Unsecured Debt vs. Secured Debt: What You Need to Know
A secured debt is secured by an asset that the lender can confiscate if you fail to make a payment, while an unsecured debt is secured only by your name and credit profile. Borrowing money – whether through a credit card or taking out a personal loan – means creating a debt that you must […]
Debt forgiveness: how does it work?
First of all, it’s important to know that true credit card debt forgiveness is largely a myth. Credit card debt forgiveness, unlike student loan forgiveness or mortgage deficit forgiveness, comes with a lot of conditions—anything but a get out of jail free card. However, it is not uncommon to find some level of debt reduction […]
Partitioning Credit Card Debt in a Divorce
You can divorce your spouse, but if you don’t take extra steps to protect yourself, getting rid of your joint card debt will be more difficult. Credit card companies are not bound by divorce decrees, so they can sue you for joint debt if your ex doesn’t pay up. That’s why divorce lawyers, financial planners, […]
Does Medical Debt Really Go Away After 7 Years?
Medical debt can be crippling. Even the most financially responsible people can suddenly receive a four- or five-figure bill from the hospital that exceeds their emergency budget. All this unpaid debt keeps the collection agencies in the United States going. The Consumer Financial Protection Bureau estimates that in the second quarter of 2021, more than […]
Should you pay off the debt or pay it off?
If you’ve accumulated a decent amount of credit card debt, you might be wondering what options you have for paying it off. Of course, you always have the option to pay off your balance in full, but you might also be wondering if debt settlement is worth it. In some cases, you may be able […]
5 mistakes to avoid after paying off credit card debt
You worked hard and paid hundreds of dollars extra each month to pay off the credit card debt you had accumulated. Now you’ve paid off. Time to celebrate, right? Certainly. But it’s also time to be careful. You don’t want to fall into some of the common traps that consumers make after paying off their […]
Credit card debt collection statute of limitations, all 50 states
CreditCards.com has compiled this list of credit card debt collection statutes of limitations by state by studying each state’s laws and court decisions individually. We have made references to the law where it is available and have made additional notes below. Credit card debt statute of limitations, by state 1 On April 12, 2011, the […]
How a Credit Card Can Really Help You Get Out of Debt
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Pros and cons of early debt repayment
Wise choice of bread Debt stinks. We all know this. The smart move here would be to pay off all debts as soon as possible, right? Not so fast. In some cases, paying off your debt early won’t save you that much money. Let’s take a look at the pros and cons of paying off […]
How to know how much debt you owe
You can’t fight what you don’t see. So if you’re on a mission pay the debt offfirst, you must know how much you Indeed be to. But keeping track of your debts can be like a scavenger hunt. You will have to search in several places as there is no centralized platform (or at least […]