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

Why Paying Down One Credit Card Isn’t Enough: The Per-Card Utilization Rule
Credit Utilization

Why Paying Down One Credit Card Isn’t Enough: The Per-Card Utilization Rule

You probably know that using too much of your available credit can hurt your credit score. That’s why many people focus on paying down their biggest...

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How a Flexible Budget Can Keep Credit Card Debt From Taking Over
Personal Budget

How a Flexible Budget Can Keep Credit Card Debt From Taking Over

A budget is often treated like a strict rulebook: spend this much here, never spend more there, and feel guilty when real life gets in the way. For...

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The Difference Between Per-Card and Overall Credit Utilization
Credit Utilization Ratio

The Difference Between Per-Card and Overall Credit Utilization

When people talk about credit utilization, they often mean one simple idea: how much of your available credit you are using. But there are actually...

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Navigating Credit as a Guarantor for an Adult Child’s Loan
50s and Beyond

Navigating Credit as a Guarantor for an Adult Child’s Loan

As you move through your 50s and beyond, your financial priorities often shift. You may be thinking more about retirement, paying off your mortgage...

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Popular Articles

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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

Yes, the IRS generally considers any forgiven debt over $600 as taxable income. You will receive a 1099-C form for the settled amount, meaning you must report that amount as income on your tax return for that year.

A budget is a plan for how you will allocate your income to expenses, savings, and debt repayment. It is the foundational tool for understanding your financial reality, identifying wasteful spending, and creating a disciplined plan to eliminate debt.

A charged-off account will remain on your credit report for seven years from the original date of the first missed payment that led to the default (the delinquency date).

Yes, medical debt is typically dischargeable in Chapter 7 or Chapter 13 bankruptcy, but this should be a last resort due to long-term credit impacts.

The first step is awareness. You must track your spending meticulously for a full month without judgment. This creates a clear, honest picture of where your money is actually going, which is often different from where you think it's going.