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

Payment-to-Income Ratio: The Number That Decides How Much You Can Safely Borrow
Payment-to-Income Ratio

Payment-to-Income Ratio: The Number That Decides How Much You Can Safely Borrow

Your payment-to-income ratio is one of the most practical numbers in your financial life. It compares the monthly payments you owe with the money you...

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How to Compare Credit Card Rewards Without Getting Tricked
Comparing Credit Cards

How to Compare Credit Card Rewards Without Getting Tricked

Credit card rewards can feel like free money, but they rarely are. A card that pays you 2 percent back on every purchase might come with an annual...

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How Home Equity Borrowing Can Become Overextended Secured Debt
Secured Debt

How Home Equity Borrowing Can Become Overextended Secured Debt

For many homeowners, the equity in a house feels like a financial safety net. It can pay for a kitchen update, cover a large medical bill, or...

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Rebuilding Your Credit in Your 50s After a Financial Setback
50s and Beyond

Rebuilding Your Credit in Your 50s After a Financial Setback

A financial setback in your 50s can feel different from one in your 20s. You may be closer to retirement, carrying a mortgage, helping a family...

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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

By identifying and cutting back on inflated expenses, you free up significant cash flow. This money can be redirected toward accelerating debt payoff, saving you thousands in interest and shortening your time in debt.

Review it monthly. Your life and priorities change, and your plan should be flexible enough to adapt. A monthly check-in allows you to adjust categories, celebrate progress on debt, and ensure your spending continues to reflect your current values.

This is a negotiation where you offer to pay the debt in exchange for the collector completely removing the negative entry from your credit report. While not all collectors agree to this, it is the best possible outcome for your credit health.

This 10% factor considers the diversity of your credit accounts, such as credit cards (revolving credit), mortgages, auto loans, and installment loans. Having a healthy mix shows you can manage different types of credit responsibly, but it is not advisable to take on new debt just to improve this.

This is often the most prudent first step. Working even a few extra years provides multiple benefits: more time to pay down debt, allows retirement savings to grow without being drawn down, and delays claiming Social Security, which increases your monthly benefit permanently.