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 Debt Avalanche Method: Paying Off High-Interest Balances First
Debt Avalanche Method

The Debt Avalanche Method: Paying Off High-Interest Balances First

When you owe money on multiple credit cards, a car loan, or a personal line of credit, the minimum monthly payments can feel like a never-ending...

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When a Debt Is Charged Off: What It Means for You
Chargeoffs

When a Debt Is Charged Off: What It Means for You

A charge-off sounds like something that only happens to people in serious financial trouble. But many middle-class families face it after a medical...

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Why We Put Off Paying Debt and Buy Things We Don’t Need
Behavioral Economics

Why We Put Off Paying Debt and Buy Things We Don’t Need

Most of us know exactly what we should do with our money. We should pay off the credit card balance in full. We should build an emergency fund. We...

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When Does Your Credit Utilization Update?
Credit Utilization Ratio

When Does Your Credit Utilization Update?

If you are trying to improve your credit score, you have probably heard that it matters how much of your available credit you are using. That number...

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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

A low credit score makes it difficult or impossible to qualify for new loans, mortgages, or credit cards. If you are approved, you will receive much higher interest rates, costing you tens of thousands of dollars over time.

Absolutely. Financial flexibility is determined by the gap between your income and your obligations, not by income alone. A high income paired with excessive debt and lifestyle inflation can leave you just as financially rigid as someone with a low income.

The desire to maintain a certain social status or keep up with peers' spending on homes, cars, and vacations can lead to financing a lifestyle beyond one's means, often using debt to fund the appearance of success.

No, there is no guarantee. Creditors are not required to accept a settlement offer. You may end up after many months with no settlements reached, but with significantly damaged credit and potentially facing legal action from creditors.

Generally, no. If you are carrying debt, your goal is to reduce it, not spend more. Rewards cards often have higher APRs, and the temptation to earn rewards can lead to further spending, worsening your situation.