Terms of Use How to Deal with Debt When You're Out of Work You've found yourself without a job, not knowing how long you may be unemployed. What can you do now to manage your finances in the short-term and long-term? Here's a six-step plan: Step One: Prioritize your debts Step Two: Talk with your creditors Step Three: Pay what you owe (at least the minimum payment amount) on time Step Four: Cut back on your expenses Step Five: If you have to borrow, find the least expensive sources  More...

Terms of Use: It is almost always better to insure yourself against income loss or death by purchasing regular life or disability insurance instead of credit insurance . When you finance cars, consumer goods, mobile home sales, and residential mortgages, salespeople may try to sell you four types of credit insurance: • credit property: insures against damage or loss to whatever item secures the loan • credit life: pays the loan balance in case of death • credit disability/accident and heal  More...

Terms of Use: With annual fees and interest rates on credit cards, you may be wondering whether to close out an account you're not using. Some are also concerned about identity theft as well as the need to simply control the amount of debt. Whatever your reason for considering closing a credit card account, here are some things to consider: If you close out a credit card that has an unpaid balance on it, your available credit (or credit limit) on that card goes to zero. Your credit score look  More...

Terms of Use Credit or debit card blocking happens most often when you rent a car or check into a hotel. For example, when you present your credit card, the clerk scans your card and this action may electronically ask the financial institution that issued the card to “block,” or reserve, part of your line of credit to cover the expected costs. If it's a hotel, the amount could be the cost of your room for the length of your stay, plus extra expenses like meals and phone calls y  More...

Terms of Use The credit card you pick can save you money Table of Contents: Credit Card Interest Rates How Much Will You Pay? Credit Card Shopper's Checklist Deciphering the Application Glossary For More Information Smart consumers comparison shop for credit, whether they're looking for a mortgage, an auto loan, or a credit card. Comparison shopping is important because it could save you money. When you're looking for a credit card, be sure to consider the costs and terms. They can  More...

Terms of Use Did you know that bankruptcies resulting from unpaid medical bills will affect nearly 2 million people this year? Unpaid medical bills are the number one cause of bankruptcy filing in the U.S. today, outpacing bankruptcies caused by credit card bills or unpaid mortgages. The data finds that most of those who filed for bankruptcy were middle-class, well-educated homeowners and carried health insurance. Since bankruptcy is an extreme measure, perhaps there are steps you can take no  More...

Terms of Use If you have a habit of not paying bills on time, or perhaps you just don't like having to write checks out each month, then using automatic bill pay from your checking account is a great solution for you. If you've been late on making payments, then you know how the late fees and finance charges some companies pass along can really add up. Having payments automatically withdrawn from your account not only can save you from these fees, it's convenient, too. No mor  More...

Terms of U se High debt and misuse of credit cards make it tough to save for retirement. Money that goes to pay interest, late fees, and old bills is money that could earn money for retirement and other goals. How much debt is too much debt? Debt isn't necessarily bad, but too much debt is. Add up what you pay monthly in car loans, student loans, credit card and charge card loans, personal loans - everything but your mortgage. Divide that total by the money you bring home each month. The r  More...

Terms of Use: Your Get out of Debt Step-by-Step Roadmap You've heard the old saying, live within your means. Easier said than done for some. The important thing is that you've reached a point where you realize your life would be a lot less stressful if you didn't have bills to worry about. Short of winning the lottery, what can you do? Here's help. Four rules to live by: 1. Be realistic! If you are spending $500 a month now on food, don't expect to cut your grocery bill t  More...

Terms of Use: When the amount of debt you have seems impossible to ever repay, one of the options you may consider is filing bankruptcy. This option, of course, should never be entered into lightly. Be sure that you have researched the pros and cons, and that you have considered alternatives to taking this drastic step. Discharging your Debts Having your debts erased is called getting a discharge of your debts. A discharge is actually a court order that proclaims that you do not have to pa  More...