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 Upgrade Trap: How Conspicuous Spending Turns Raises Into Credit Card Balances
Conspicuous Consumption

The Upgrade Trap: How Conspicuous Spending Turns Raises Into Credit Card Balances

Conspicuous consumption is spending meant to be seen. It is not simply buying nice things. It is buying things that send a signal about who you are...

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Paying Before Your Statement Closes Can Lower Your Credit Utilization
Credit Utilization

Paying Before Your Statement Closes Can Lower Your Credit Utilization

Credit utilization is one of the few parts of your credit score you can change quickly. It is simply the comparison between the balances on your...

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The Cost of Keeping Up: How Conspicuous Consumption Becomes Credit Card Debt
Conspicuous Consumption

The Cost of Keeping Up: How Conspicuous Consumption Becomes Credit Card Debt

Conspicuous consumption is the habit of buying things mainly to signal that you belong, that you are doing well, or that you have taste. It is not...

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The Raise Trap: How Upgrading Your Lifestyle After a Promotion Can Strain Your Credit
Lifestyle Inflation

The Raise Trap: How Upgrading Your Lifestyle After a Promotion Can Strain Your Credit

A raise feels like permission to improve your life. You worked hard, your income went up, and suddenly the smaller apartment, older car, or basic...

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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

Yes. Contact creditors directly to request lower rates, especially if you have a good payment history. Alternatively, use a nonprofit credit counselor to negotiate on your behalf.

Nonprofit credit counseling agencies provide advice and may offer a Debt Management Plan (DMP), where they negotiate lower interest rates with creditors and combine payments into one monthly amount, often with reduced fees.

Your 40s are a critical wealth-building decade. Debt, especially high-interest consumer debt, directly sabotages your ability to save for retirement. The compound interest you should be earning on investments is instead being paid to creditors, significantly jeopardizing your long-term financial security.

Cultivating a mindset of living within your means. This means embracing contentment, distinguishing between needs and wants, and valuing long-term financial security over short-term material gratification.

Yes. If the debt is within the statute of limitations for your state, a collector can file a lawsuit to obtain a court judgment against you. If they win, they may be able to garnish your wages or levy your bank account.