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

The Smart Way to Use a Balance Transfer for Credit Card Debt
Using Credit Tools

The Smart Way to Use a Balance Transfer for Credit Card Debt

Carrying a balance on a high interest credit card is one of the most expensive ways to borrow money. If you are paying twenty percent or more in...

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Understanding the Sections of Your Credit Report
Understanding Credit Reports

Understanding the Sections of Your Credit Report

Your credit report is a detailed record of your financial history, and it is one of the most important documents you will ever review. Lenders...

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How an Emergency Fund Can Keep You From Needing Debt Settlement
Debt Settlement

How an Emergency Fund Can Keep You From Needing Debt Settlement

Debt settlement sounds like a lifeline when bills pile up and collectors start calling. You hire a company or negotiate yourself to pay a fraction of...

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Soft Inquiries vs. Hard Inquiries: What They Mean for Your Credit
Understanding Credit Reports

Soft Inquiries vs. Hard Inquiries: What They Mean for Your Credit

Every time you apply for a credit card, a loan, or even a new apartment, something happens behind the scenes that you might not see. A lender or...

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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

Most negative information, including late payments, charge-offs, and collections, remains on your credit report for seven years from the date of the first delinquency. Chapter 7 bankruptcy remains for 10 years from the filing date.

Debt consolidation (combining multiple debts into one new loan with a single payment) can be smart if you qualify for a lower interest rate. This simplifies payments and can save money. However, it requires financial discipline to avoid running up new debts.

Look for agencies affiliated with national organizations like the National Foundation for Credit Counseling (NFCC) or the Financial Counseling Association of America (FCAA). Always verify their non-profit status and check reviews with the Better Business Bureau.

A reputable counselor may suggest other options if a DMP isn't right for you, such as a debt snowball/avalanche payoff strategy, budgeting adjustments, or in severe cases, information about bankruptcy.

You must dispute it directly with the credit bureau (Equifax, Experian, or TransUnion) that is reporting the error and with the company that provided the information (the lender or collector). Submit your dispute in writing and include any supporting documentation.