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 If You Ignore a Debt Collector—and How to Respond
Debt Collection

What Happens If You Ignore a Debt Collector—and How to Respond

Missing a debt collector’s call or tossing a letter in the trash may feel like a way to avoid a problem. It does not make the debt go away. In most...

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When a Debt Goes to Collections: What It Means for Your Credit and Your Wallet
Debt Collection

When a Debt Goes to Collections: What It Means for Your Credit and Your Wallet

Missing a payment is stressful. When an account is turned over to a debt collector, the stress can grow because the problem now involves another...

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Paying Before the Statement Date Can Lower Your Credit Utilization Ratio
Credit Utilization Ratio

Paying Before the Statement Date Can Lower Your Credit Utilization Ratio

Your credit utilization ratio is the share of your available credit you are using. If you have a $5,000 limit and a $1,500 balance, your utilization...

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How Mental Accounting Makes Credit Feel Cheaper Than It Is
Behavioral Economics

How Mental Accounting Makes Credit Feel Cheaper Than It Is

Most people do not think of their money as one big pool. They split it into mental buckets: rent money, grocery money, fun money, emergency money...

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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.

DTI compares your total monthly debt payments to your gross income. PTI is more focused, measuring only the minimum required payments on your debts against your income, giving a clearer picture of your essential monthly cash flow needs.

A payment must be at least 30 days past due before it can be reported as delinquent to the credit bureaus. This will result in a significant negative mark on your credit report.

This is a letter you can send to a collector demanding they prove you legally owe the debt and that they have the right to collect it. They must cease collection efforts until they provide this validation. This is a powerful tool to ensure the debt is legitimate.

A higher credit limit can improve your credit utilization ratio if you don't use it for new spending. However, ensure the limit is high enough to accommodate the balance you wish to transfer.