Debt Relief Articles

Debt Relief Programs: How They Work, What They Cost, and How to Choose One

Debt relief programs include settlement, credit counseling, and more. Learn what each costs, how they affect your credit, and how to avoid scams.

How We Review Debt Settlement Companies

See exactly how we review debt settlement companies: the six weighted criteria, the star-rating formula, and where every fact comes from.

Credit Counseling vs Debt Settlement: Which Is Better?

Credit counseling repays what you owe at lower interest; debt settlement pays less but damages credit. Compare costs, credit impact, and which fits you.

How to Spot Debt Relief Companies to Avoid

Learn the red flags of a bad debt relief company and how to check one before you enroll.

Pros and Cons of Debt Settlement

Weigh debt settlement's real pros and cons, such as credit impact, fees, taxes, and success rates. Learn when it's worth it and what to try first.

She Settled the Debt. Then Came the Tax Question.

Renata settled her first account and saw $3,200 forgiven. Then a friend mentioned taxes. Two accounts left, a question with no clean answer.

She Stopped Paying. Now: Hire Someone or Do It Herself?

Priya has $35,200 in debt and two months of stopped payments. A settlement company would take around 25% of what she owes. DIY costs nothing — but is she...

How to Avoid Debt Relief Scams

Learn the red flags of debt relief scams, the federal rule on upfront fees, and how to verify a company before you pay. Get steps to report a scam.

Does Debt Settlement Hurt Your Credit? What Really Happens

Debt settlement can lower your credit score, but the damage isn't permanent. See how it works, how long it lasts, and how to protect your score.

Best Debt Consolidation Companies: How to Choose the Right One

The best debt consolidation company depends on your situation. Compare loan-based and nonprofit DMP options, and learn how to vet any provider.

Are Debt Consolidation Loans a Good Idea?

Debt consolidation loans could lower your rate and simplify payments, but not always. See when they help, what they cost, and when to look at alternatives.

What Is Debt Relief? Your Options Explained

Debt relief is an umbrella term for ways to get help with what you owe. Compare DMP, settlement, consolidation, bankruptcy, and how each affects your credit.

Still Current on Payments — Two Options at a Glance.

Marcus has $28,400 in maxed credit cards and hasn't missed a payment. Now he's wondering if staying current is the wrong move.

How Debt Settlement Affects Renting, Loans, and Financial Access

Wondering if debt settlement hurts your chances of renting or borrowing? Here’s what landlords and lenders actually check, and what stays off their radar.

Will Debt Settlement Prevent Me From Renting an Apartment?

Debt settlement doesn't block you from renting. Here's what landlords actually see on your credit report, and why missed payments matter more than the program.

The Collections Process in Debt Settlement Explained

Collections doesn't stop when you enroll in debt settlement. Here's how falling behind, charge-off, and collector contact actually work, and what the law limits.

Why Does My Debt Have to Go to Collections Before Settlement?

Creditors aren't usually willing to settle a debt if you're still making payments. Learn why your accounts need to be past-due before debt settlement is an option.

How to Cancel a Debt Settlement Program and What to Expect

Cancel your debt settlement program in three steps and know what happens to your money, your debts, and creditor contact after you leave.

Why Won't Debt Settlement Companies Let Me Cancel?

Tried to cancel your debt settlement program and got pushback? Here's what federal rules say about your right to leave, and what canceling actually costs you.

Why Debt Settlement Fees Feel Higher Than Expected

Debt settlement fees have three parts, and a debt settlement company isn't allowed to collect them upfront. Find out how they work here.

Do Debt Settlement Companies Just Make Calls I Could Make Myself?

DIY debt negotiation is real. But debt settlement companies aren't charging for phone calls. Here's what the fee actually covers.

What Happens to Debt in Divorce

Debt doesn't disappear in a divorce. Learn how marital debt is divided, which spouse is responsible, and how to protect your credit and finances.

Sample Answer to Summons for Credit Card Debt

Received a summons for credit card debt? Learn what to include in your answer, see sample language, and understand your options, including settlement.

When Can a Credit Card Company Sue You?

Credit card companies could sue after 180 days of missed payments—but lawsuits aren’t inevitable. Learn what triggers legal action and what to do about it.

Help With Credit Card Debt Over $10,000

Carrying over $10,000 in credit card debt? Learn which relief options fit your situation, from debt management plans to settlement to bankruptcy.

What Debt Settlement Companies Actually Do vs DIY Negotiation

A debt settlement company does more than make phone calls. Here is how the work compares with handling negotiation on your own.

Do I Still Owe Creditors After Paying the Settlement Company?

If you’ve been paying into a debt settlement program, your creditors haven’t been paid yet. Here’s how the money actually flows and what settled really means.

How to Get Out of Debt with Bad Credit

Bad credit limits your options, but it doesn’t eliminate them. Here are the realistic paths out of debt that don't require a high credit score.

How Does Paying a Debt Settlement Company Actually Work?

Your monthly payments don’t go to your creditors. Here’s where the money actually goes, what happens while it sits there, and how a debt gets resolved.

Their Fees Are Wild—Why Debt Settlement Costs Add Up

Debt settlement fees are calculated based on your enrolled debts. Find out more about debt settlement company fees here.

5 Financial Hardships That Qualify for Partial Debt Forgiveness

Facing job loss, illness, divorce, or another crisis? Learn which 5 financial hardships could help you qualify for partial debt forgiveness.

What Is the Dedicated Savings Account in Debt Settlement?

The dedicated savings account in debt settlement is held in your name at an FDIC-insured bank, not by the debt settlement company. Learn how it works and what you control.

How to Handle $25,000 in Credit Card Debt

Carrying $25,000 in credit card debt? You have options whether you’re still current or already behind. Learn which path forward fits your situation.

What Actually Happens to My Money During Debt Settlement?

Worried about where your money goes in debt settlement? Federal law requires it to be held in an account you own. Here’s what the law says.

How to Get Out of Debt on a Low Income

Debt on a limited income is hard, but real strategies could help. Learn to budget, choose a repayment method, and find relief options that fit your situation.

Credit Card Lawyer: When You Need One for Debt

A credit card lawyer could help if you've been sued, harassed by collectors, or can't resolve your debt alone. Learn when to hire one and what to expect.

How to Get Out of Debt With No Job

Lost your job but still have debt? Learn what to do first, which debt relief options could still work with no paycheck, and what to expect if payments stop.

Will Creditors Empty My Bank Account If I Set Up Payments?

Agreeing to set up payments with a creditor doesn't mean they will drain your bank account. Find out the real story here.

What Actually Happens to My Money During Debt Settlement?

Worried a debt settlement company holds your money? Here's what actually happens, including what you control and what to watch out for.

The Real Risks of Debt Settlement (That Companies Don’t Always Mention)

Reputable debt settlement companies disclose the risks. Some don’t. Learn what should be on the table before you sign, and what to ask if it isn’t.

Why Does Debt Settlement Require Stopped Payments?

Stopping payments is part of how debt settlement works, not a scheme. Understand the logic, the real costs, and what to consider before deciding.

Credit Card Debt Forgiveness: Is It Possible?

Credit card debt forgiveness is possible, but not always how the ads make it seem. Learn how it works, who it's for, and what it really costs.

Debt Consolidation vs. Debt Settlement

Debt settlement and debt consolidation are two different ways to deal with debt. Learn about both to decide which is right for you.

How Long Does It Take Credit to Recover After Debt Settlement?

Debt settlement damages your credit—but for most people, the damage started before the program did. Here's what rebuilding actually looks like.

Help With Credit Card Debt Over $50,000

Carrying more than $50,000 in credit card debt? Explore your options—debt management plans, settlement, bankruptcy—and find a path for your situation.

Should I Stop Payments and Negotiate My Debt—Or Is That a Bad Idea?

Whether stopping payments to negotiate debt makes sense depends on where you stand—not on the sales pitch. Here's a framework for both situations.

What Are the Real Risks of Debt Settlement?

Debt settlement carries risks: credit damage, lawsuits, taxes, fees. Learn what could happen, and how to decide if the potential trade-off makes sense for you.

What Is a Debt Hardship Program and When Should You Ask for One?

A debt hardship program could lower your payment while you recover. Learn what it is, how it works, and when to contact your lender—before it's too late.

Coping with Financial Hardship: Practical Tips

Struggling financially? Learn how to gauge your situation, triage your bills, find assistance programs, and explore debt relief options that could help.

How Much Credit Card Debt Is Too Much?

No single number defines “too much” credit card debt. Use these benchmarks to judge for yourself—and find out what to do if your balance has gone too far.