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

Fix Your Credit in Your 40s Before Retirement Gets Close
40s

Fix Your Credit in Your 40s Before Retirement Gets Close

Your 40s are often expensive. You may be juggling a mortgage, car payments, kids’ costs, aging parents, and retirement savings. Credit can feel like...

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Paying Highest Interest First: How the Debt Avalanche Method Protects Your Credit
Debt Avalanche Method

Paying Highest Interest First: How the Debt Avalanche Method Protects Your Credit

The debt avalanche method is a repayment plan that puts your extra money toward the debt with the highest interest rate first. You still pay the...

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How to Improve Your Debt-to-Income Ratio Without Paying Off All Your Debt
Debt-To-Income Ratio

How to Improve Your Debt-to-Income Ratio Without Paying Off All Your Debt

Your debt-to-income ratio, or DTI, is the percentage of your gross monthly income that goes toward debt payments. Lenders use it to judge whether you...

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Protecting Your Credit When Closing Joint Accounts After Divorce or Separation
Divorce or Separation

Protecting Your Credit When Closing Joint Accounts After Divorce or Separation

Divorce or separation forces you to untangle money. Joint credit accounts are often the messiest part. A joint account belongs to both people in the...

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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

Some providers may accept a reduced lump-sum payment to settle a debt, especially if you’re experiencing financial hardship. Always request this in writing.

Conduct a thorough spending audit. Cancel unused subscriptions, reduce dining out, negotiate lower bills (like insurance or phone plans), and temporarily halt discretionary spending on non-essentials.

Non-profit agencies focus on education and counseling, often offering DMPs with reduced interest rates and waived fees. For-profit settlement companies aim to negotiate lump-sum settlements for less than you owe, which can severely damage your credit and involve high fees.

Hard inquiries remain on your credit report for two years but typically only impact your score for the first 12 months. The effect is usually small (a few points) unless you have numerous inquiries in a short time.

Debt forces you to live in the financial past. Money that should be allocated to retirement accounts, emergency funds, or investment portfolios is instead diverted to service old obligations, crippling your long-term wealth-building potential.