Recent data collected in the 2011 Credit Card Debt Study from CardHub.com shows that consumers are once again spending more money on their credit cards. In fact, credit card debt levels are at their highest since the recession ended. During the second quarter of 2011, consumers added approximately $18.4 billion in credit card debt. This  … Read more

When you are drowning in debt it becomes commonplace to begin scrambling to find a debt relief solution. There are many different kinds of debt relief companies, all offering a variety of services. Many of these services are fee based, leaving you with large fees for services you could do yourself. Think about this: If  … Read more

When you are significantly in debt it can be a devastating experience. Although there are many ways to get yourself out of debt, many people fail to act until it is too late. However, before giving up or needing the help of bankruptcy protection, realize that just following a few simple steps can put you  … Read more

Because these two terms are often are often used to describe the process of debt relief, many people assume they are the same thing. Debt settlement and debt negotiation are actually very different. Deciding which one is right for you is mostly a matter of your ability to earn income.       Debt negotiation  … Read more

If you are financially able to repay your debts, consider yourself lucky. Many people are experiencing extreme  financial hardship that leaves them without the ability to repay their debts, putting them at risk of foreclosure or bankruptcy. Repaying your debts through a debt collector can provide many benefits to your financial situation, however, you should  … Read more

Before 2007, rolling outstanding credit card debt into a mortgage was fairly common. Basically, in order to take advantage a lower interest rate, people with large sums of credit card debt could roll that debt into the terms of a mortgage. For example, you could take out a $305,000 mortgage for a $300,000 mortgage loan  … Read more

Recent reports have released staggering numbers about the current state of our economy. The unemployment rate has hit a high of 9.1% and the poverty rate rose to 15.1 percent, nearly a full percentage point in a single year. The average income has dropped by 2.3% and the number of privately insured Americans is dropping  … Read more

State and Federal Laws include important provisions that may shield you from usurious and exploitative debt collection practices. As you may have already read, one of the surest ways to secure protection from a creditor is through bankruptcy proceedings. However, there are many other laws at the state and federal level to protect troubled borrowers  … Read more

When you are experiencing financial difficulties and your bills pile up, the last thing you need is another debt collector calling. It seems as though creditors are relentless in their efforts to collect on a debt, and many of their actions can even be abusive. As the Federal Trade Commission is cracking down on debt  … Read more

For many people drowning in debt, bankruptcy may seem like the only option. What many people don’t know is that not everyone qualifies for bankruptcy protection. Further, bankruptcy may not be the most beneficial tool for debt elimination for everyone. When it comes to developing a plan to eliminate personal debt, there are several methods  … Read more