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

What Happens When a Creditor Sues You for an Unpaid Debt
Creditor Actions

What Happens When a Creditor Sues You for an Unpaid Debt

When you fall behind on a loan or credit card, a creditor may first send letters and make phone calls. If those efforts do not lead to payment, the...

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How to Protect Your Paycheck From Wage Garnishment
Wage Garnishment

How to Protect Your Paycheck From Wage Garnishment

Wage garnishment is when a court orders your employer to send part of your paycheck to a lender or debt collector. It is not random. In most cases, a...

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How Your Payment-to-Income Ratio Shapes Credit Approval and Monthly Budgeting
Payment-to-Income Ratio

How Your Payment-to-Income Ratio Shapes Credit Approval and Monthly Budgeting

When you apply for a loan or credit card, lenders want to know whether you can handle another monthly payment. One of the first numbers they look at...

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How to Lower Your Credit Utilization Before Applying for a Loan
Credit Utilization

How to Lower Your Credit Utilization Before Applying for a Loan

Your credit utilization is the share of your available credit that you are using at a given time. If you have $10,000 in total credit limits and...

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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

Credit utilization measures how much of your available revolving credit you are using. A ratio above 30% signals risk to lenders and can significantly lower your credit score, making it harder and more expensive to access new credit or refinance.

First, don't panic. Acknowledge the stress and then take action. Options include creating a strict budget, exploring a side hustle for extra income, or speaking with a non-profit credit counseling agency for a structured plan.

Your 40s are peak earning years and your last major window to build retirement wealth. Debt payments directly sabotage your ability to save, jeopardizing your entire retirement plan and leaving insufficient time to recover.

The greatest risk is using the new available credit to accumulate more debt. If you transfer balances to a new card but then run up the balance on the old card again, you will be in a far worse position than when you started, with even more debt to manage.

This involves applying any unexpected or small amounts of extra money—like a tax refund, bonus, garage sale proceeds, or money saved from skipping a luxury—directly to your debt. These small, consistent efforts can significantly accelerate your payoff timeline.