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

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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Why Timing Your Credit Card Payments Matters for Your Debt-to-Limit Ratio
Debt-to-Limit Ratio

Why Timing Your Credit Card Payments Matters for Your Debt-to-Limit Ratio

Your debt-to-limit ratio compares the balance on each credit card and your total credit card balances with your credit limits. If you have a $2,000...

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How to Tell When an Installment Loan Is Stretching Your Budget Too Far
Installment Loan

How to Tell When an Installment Loan Is Stretching Your Budget Too Far

An installment loan is any loan you repay with set payments over a set period. Car loans, personal loans, furniture financing, and some debt...

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When a Debt Collector Calls Your Workplace: What It Means and How to Handle It
Debt Collection

When a Debt Collector Calls Your Workplace: What It Means and How to Handle It

It can be unsettling when a debt collector calls you at work. Maybe a receptionist transfers a call, or a collector leaves a message with a coworker...

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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

Signs include hiding purchases from partners, making only minimum payments on credit cards, feeling anxious about spending but doing it anyway, and justifying luxury buys as "rewards" or "investments in image."

Long auto loan terms (72-84 months) often lead to negative equity, meaning the borrower owes more than the car is worth. This traps them in the loan and can lead to rolling over old debt into a new loan, perpetually increasing their debt load.

The most common examples are mortgages (secured by the house) and auto loans (secured by the vehicle). Other examples can include secured credit cards (backed by a cash deposit), and some personal loans that use a savings account or certificate of deposit as collateral.

The general recommendation is 3-6 months' worth of essential living expenses. For someone who is overextended, a starter goal of $500-$1,000 can provide a crucial buffer to avoid going deeper into debt for small emergencies.

If the information is incorrect (wrong amount, wrong date, etc.), you can file a dispute directly with the credit bureau reporting it. They are required to investigate and correct verified inaccuracies.