Are You OverExtended?

Are you managing your debt, or is it managing you? Practical guidance for managing personal debt and credit.

Get Started
  • Spending more than paying off
  • Trouble paying bills
  • Buying without down payments
  • Maxed out credit lines
  • Retirement not properly funded
  • No payoff strategy
Financial advisor

Recent Articles

How High Credit Card Debt Reduces Your Financial Flexibility
Reduced Financial Flexibility

How High Credit Card Debt Reduces Your Financial Flexibility

High credit card debt does more than cost you interest. It quietly removes choices from your life. When a large part of your monthly income is...

today Read More
Rent-to-Own Agreements: The Payment Plan That Costs More Than a Loan
Predatory Lending

Rent-to-Own Agreements: The Payment Plan That Costs More Than a Loan

Most people recognize a payday loan as a bad deal. Fewer recognize the same pattern sitting in the furniture store on the corner, dressed up as a...

today Read More
How to Use Credit Report Monitoring to Prevent Problems Before They Cost You
Credit Report Monitoring

How to Use Credit Report Monitoring to Prevent Problems Before They Cost You

Credit report monitoring is more than watching a score. It means checking the detailed reports that lenders use when they decide whether to give you...

today Read More
How the Debt Avalanche Method Prevents Credit Problems
Debt Avalanche Method

How the Debt Avalanche Method Prevents Credit Problems

When you carry balances on several credit cards or loans, it is easy to feel stuck. You make payments every month, but the balances seem to move...

today Read More

Popular Articles

When Is It a Bad Idea to Apply for New Credit?
Strategic Credit Application
When Is It a Bad Idea to Apply for New Credit?
When Creditors Take Money from Your Paycheck: Understanding Wage Garnishment
The 30% Rule: Why Debt-to-Limit Ratio Matters for Your Credit Score
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

The constant pressure of debt can lead to chronic stress, anxiety, shame, and relationship strain. This emotional burden can sometimes paralyze individuals from taking action, further worsening the financial situation.

Seek non-profit credit counseling agencies (like those through the National Foundation for Credit Counseling - NFCC). They offer certified counselors who can review your situation, help create a budget, and may provide a Debt Management Plan (DMP) to consolidate payments, often at reduced interest rates. Avoid for-profit debt settlement companies.

Home equity (the market value of your home minus what you owe) can be a source of funds through a Home Equity Loan or Line of Credit (HELOC). However, using this equity to pay off unsecured debt is risky because it converts unsecured debt into secured debt—now your home is on the line if you can't pay.

Avoid turning to high-cost solutions like payday loans or title loans, as they create a much worse debt trap. Also, avoid closing old credit cards, as this hurts your credit utilization ratio. Most importantly, avoid ignoring the problem.

Absolutely. This is often the best course of action. You can negotiate a "pay-for-delete," where you agree to pay a portion of the debt in exchange for the creditor or collector removing the negative entry from your credit report. Get any agreement in writing before sending payment.