Dept Management
Key takeaways Credit repair companies work on your behalf to find and fix mistakes on your credit report to boost your score. The fees and services may vary depending on the company you choose. You can do credit repair on your own, but it can be time-consuming. If your credit…
The money lessons we carry into adulthood often begin with what we overhear on our way to school or, just as often, what no one talks about at all. For many of us, our parents’ views on debt become the default settings in our financial lives. Whether it was a…
Key takeaways The main advantage of debt relief programs is that they take the burden of credit negotiations off of the consumer. The drawbacks to debt relief programs are high fees and potential damage to your credit for missed payments. Debt consolidation loans and balance transfer cards can help you manage…
Key takeaways Debt settlement means negotiating with creditors to pay less than what you owe, often in a lump sum. While it can provide relief, debt settlement can also come with major risks — including credit score damage and potential tax liability. You can attempt debt settlement on your own…
Peter Dazeley/Getty Images: Illustration by Issiah Davis/Bankrate Key takeaways Debt relief typically takes one of three forms: debt settlement, consolidation and management. Working with a debt relief company can result in less debt or a faster payoff — but there are often hefty fees, often up to 25 percent of…
Key takeaways Bankruptcy will impact your credit for a period of time, limiting your ability to borrow new loans. If you’ve been through a bankruptcy, there are proactive measures you can take toward rebuilding your finances, such as establishing a secured credit card or applying for a credit-builder loan. The…
