Debt

Even though I got my first credit card more than 25 years ago, I remember it like it was yesterday.  I was a freshman attending the University of California, Irvine. At age 18, just receiving an invitation to apply for...

The Federal Reserve Bank of New York's Center for Microeconomic Data today (November 15, 2022) issued its Quarterly Report on Household Debt and Credit . The Report shows an increase in total household debt in the third quarter of 2022, increasing by $351 billion...

Anyone who’s ever been in debt knows one thing: it doesn’t make life easy. In fact, debt can have many negative effects on one’s livelihood. For example, having large amounts of outstanding debt can negatively affect your ability to obtain...

Q: Hi, Can a debt collector that is based in and licensed in the state of Delaware, collect a debt from me in California? Also, I know California no longer requires California agencies to be licensed, however they have broken 3 possibly...

Do you have a lot of unpaid debts? If so, your creditors may threaten your paycheck with wage garnishment. Wage garnishment occurs when a court issues an order to withhold a percentage of your paycheck until your debts are paid...

Managing your personal finances wisely is one of the hallmarks of a responsible and mature person. Unfortunately, not everyone is able to or willing to handle their own financial affairs. Sometimes money problems occur as a result of circumstances; other times...

Debtors prison was abolished in America well over a century ago. But that doesn’t mean you can’t get arrested or locked up for past-due debts. Here are four crazy instances in which authorities have hauled people off in handcuffs and...

If you’ve resolved to improve your finances in 2016, now is a great time to do a debt detox. Many people are still in their holiday debt hangover, so the beginning of the year gives you a good opportunity, and...

Many people living with crushing debt focus on the ways that those out-of-control bills affect their finances.And it’s easy to see why.When you have massive student loans, an enormous mortgage, or maxed out credit cards, those obligations can be a...

Q: I have an outstanding medical bill from 2/2009 (DOS) for $92.00. I had a debt collector call me today. I am wondering if this medical bill is past the statue of limitations. I live in Florida. A: Thanks for reaching out...

You don’t need to be a rocket scientist to figure out that having a lot of credit card debt can be a drag. Duh. It’s no fun stressing every time you get your monthly credit card statements or worrying if...

Nobody wants to be mired in debt. But if we're honest about our financial patterns, we'll admit to sometimes making poor money choices — at least now and again — that can lead to debt. An occasional slip up with...

None of us wants to have big debts hanging over our heads. There are smart ways to get them under control — tight budgeting, for instance — but also a huge number of bad choices that may just dig you in deeper....

any of my readers want to get out of debt – especially at the beginning if the New Year when they’ve made various financial resolutions. One recurring question I’m often asked is: which debts should I pay off first --...

o matter how good (or bad) you may be at managing money, if you’re carrying a lot of personal debt, those bills can erode the value of your hard-earned income or savings. For most people, having a mountain of credit...