Are You OverExtended?

Are you managing your debt, or is it managing you? Practical guidance for managing personal debt and credit.

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  • Spending more than paying off
  • Trouble paying bills
  • Buying without down payments
  • Maxed out credit lines
  • Retirement not properly funded
  • No payoff strategy
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Recent Articles

Keep Your Old Credit Cards Open to Protect Your Credit History
Credit History Management

Keep Your Old Credit Cards Open to Protect Your Credit History

When you pay off a credit card you no longer use, it might feel like a victory. You might think closing the account is the final, responsible step...

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Closing a Credit Card Can Hurt Your Credit Score Without Warning
Credit Utilization

Closing a Credit Card Can Hurt Your Credit Score Without Warning

Many middle-class consumers think that closing a credit card is a smart financial move. Maybe you’ve paid off a big balance and want to cut up the...

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Don’t Let Your Credit Utilization Sneak Up on You
Debt-to-Limit Ratio

Don’t Let Your Credit Utilization Sneak Up on You

When you carry a credit card, you probably check your balance now and then. You might even make a payment before the due date. But there is another...

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Why the Length of Your Credit History Matters for Your Score
Credit History Management

Why the Length of Your Credit History Matters for Your Score

When you think about what makes up your credit score, you probably focus on paying your bills on time and not using too much of your available...

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Popular Articles

When Medical Bills Land in Collections: What It Means for Your Credit
The Minimum Payment Trap: Why Paying Just the Minimum Keeps You in Debt
The Silent Erosion of Financial Flexibility: How Credit Card Debt Limits Your Choices
Video

Consumer Credit Tips

Each video breaks down one practical way to get out from under debt and stay there — straightforward advice on credit, budgeting, and the habits that keep you from getting overextended again.

FAQ

Frequently Asked Questions

Vulnerable groups, including low-income individuals, minorities, seniors, and those with poor credit or desperate financial needs, are often targeted.

Unemployment benefits provide temporary partial income replacement, helping to bridge the gap between jobs and reduce the need to take on additional debt.

First, contact your lender to ask about hardship programs or payment deferral options. If that fails, consider selling the car privately (if you can cover the loan balance) or trading it in for a far less expensive vehicle.

This is an unwarranted belief in our own ability to control events. A debtor might be overconfident in their ability to stick to a strict budget or earn more money quickly, leading them to take on debt they have no realistic plan to repay.

Its easy accessibility and the ability to make small minimum payments can create a false sense of affordability. This can lead to consistently carrying a high balance, which accumulates compound interest rapidly, causing debt to spiral out of control.