Creditors and lenders have different names for different types of debtors, each describing a pattern of behavior related to the account. Once categorized, creditors and lenders may behave differently towards you, which could affect how likely you are to receive help when needed or willingness to negotiate debt repayment. To better manage your account when  … Read more

It comes as no surprise that credit card debt is the main source of debt among Americans. After all, the average American holds four active credit cards, each with balances over thousands of dollars. Although credit card debt is not the primary reason for Americans seeking bankruptcy, they have become the most popular source of  … Read more

First and foremost, the skepticism stems from the fact that mortgage rates are already at record lows. While this has encouraged some homeowners to pursue mortgage modifications such as refinancing, it has done little to boost new home sales thus far. Namely, this is because credit standards are still extremely tight, making it difficult for  … Read more

As a consumer it can be scary to deal with debt collectors. You may feel like you have no rights or that your options are limited to what they offer you. Fortunately, you have more rights than you may realize and repaying your debts doesn’t have to come in the form of dealing with debt  … Read more

Anyone experiencing overwhelming debt understands the stress and pressure it can add to an already tough situation. Finding the right debt relief  option for you can be a challenge in itself, and knowing which one to pick isn’t always easy. In general, there are two choices in debt relief: (1) slow and steady or (2)  … Read more

No one really likes to think about the possibility of meeting an untimely demise, but if you are the chief financial breadwinner in your family, it is important to make provisions for all possible outcomes. Consider your current financial situation in regards to your family. In the event that something happened to you that resulted  … Read more

They say that the only things in life that are guaranteed are death and taxes. While the humor in the statement is undeniable, there also is a nugget of truth present. No matter what sort of financial life that you lead, it is likely that taxes, debt, and inflation will all pay a role in  … Read more

A little bit of credit card debt is actually a beneficial thing to have if you are trying to build a healthy financial life. The problem is that many of us have too much credit card debt, which is hindering our collective ability to manage our finances and solidify our futures. In the event that  … Read more

You might be surprised to learn that , despite the increase in personal debt burdens over the last few years, being a debt collector is not as lucrative as it once was. In fact, debt collection is a tough business that faces many obstacles on a daily basis. As people become more aware of their  … Read more

In the last couple months, banks have significantly stepped up their assault against homeowners who are struggling to meet their mortgage payments, which leads to the expectation that the final quarter of 2011 will feature a new wave of foreclosures. For a while, last fall, foreclosures had begun to slow as banks began to take  … Read more