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When you find yourself in mounting debt and you are finally ready to start digging yourself out, the first step is to educate yourself. Credit card debt information is easy to find, but it is important to get as much information as you can before making any final decisions on debt alternatives and solutions. There are a variety of debt resources as well as debt information to help you begin your education.

Since consumer debt information is abundant it can take a while to get through it and find an educational resource you like and feel you can trust. However, if you want to make a difference in your financial future, it is important for you to spend the time to learn as much as you can. This is your money we are talking about. The people who get scammed by shady debt relief companies are often the ones who did not take the time to learn about the various solutions, their benefits, and drawbacks. Understand, there is no free lunch in any debt relief process, it takes some discipline and requires some sacrifices. The more you know, the better questions you will ask, and the less likely it is that you’ll find yourself in worse trouble because you picked a bad debt relief company. There are good reputable debt solutions available to help you.

You are not alone. Read through my credit debt information to get an idea of what solutions may be best for your situation. Only you can make the determination but the more you know the quicker you’re likely to be debt free. I put together hundreds of pages of debt relief information on this site to help you.

Using a Professional Financial Debt Solution – What Tax Effects?

You must be aware of tax effects of the solution you select. Yes, depending on the type of financial debt solution you choose based on your situation there may be tax consequences. For instance, there are no tax changes for you if you enter into a debt management program as that is a process that more »

How Do Consumer Credit Debt Counseling Companies Work With My Creditors?

The two primary forms of unsecured credit card debt relief are debt settlement and debt management. The latter is a service offered by consumer credit debt counseling companies who work very closely with the credit card companies to develop programs that allow you to repay what you owe over time. These programs include creating a more »

What Are the Benefits of a Financial Debt Management Program Over Settlement?

I’ve often stated that debt settlement is meant as a bankruptcy alternative and many people are not in a situation that warrants the drawbacks it can involve. A financial debt management program is a solution that people should consider if they need modest, not severe, help. It’s all about how unaffordable your current monthly unsecured more »

What Is Unsecured Debt?

Basically any debt that is not “backed” by an asset is unsecured debt. When you buy a home, the bank gives you a loan that is backed by the home itself and you sign papers that state should you be unable to pay the bank back, the bank has the right to take over your more »

Credit Negotiation Company Ratings- Do They Exist?

Everybody wants to know “Who is the best credit negotiation company?” and honestly that is not the right question to ask. You really should be asking: “What Credit Negotiation Company is Best for Me?” Like anything, you need to find an honest debt negotiation company that you believe is the best for you. There is more »

How Can I Do Credit Card Debt Consolidation?

Credit card debt consolidation really only means taking your bills and combining them into one monthly payment and there are several ways to do this. Typically the phrase applies to your unsecured credit card debt and sometimes even your mortgage, not utility bills and car payments. It is a term that gets over used in more »

Is a Credit Card Debt Management Solution Right for Me?

People visit this site to learn more about their debt relief options and they want guidance on which solution is best for them. Unfortunately, there is no “one size fits all” answer to that question but generally here is when you should consider credit card debt management as a solution for you. 1. You have more »

Does Debt Management Hurt My Credit Score?

The questions about credit scores is the most common one I get on this site. Debt management plan will not hurt your credit score as negatively as a debt settlement plan. Typically, when you enter a debt management plan it will be noted on your score that you are getting assistance in managing your credit more »

Who Provides Offer in Compromise Help?

When seeking assistance in determining if an offer in compromise may be available to you as an IRS tax debt relief solution, be careful that you seek the best help. In general, their are several types of people who can provide this service like lawyers, accountants, and federally licensed agents. I recommend you work with more »

Why Would the IRS Offer Compromise?

The IRS offers a tax compromise in certain situations because they know it is their only option. If you prove to them you cannot pay them your tax, they are willing to take what you can afford vs. their alternatives of: 1. Never getting anything from you 2. Spending valuable time and resources chasing after more »

What is an Offer in Compromise?

The IRS can grant an offer in compromise to people who owe large amounts of federal taxes that they have no way of paying. It is a solution to the debtor that reduces the total tax bill by a potentially huge amount, sometimes for pennies on the dollar. It is basically a settlement negotiation just more »

Credit Card Debt Problem: What Debt Relief Solutions Are Best For You?

I read today that over 14% of the people living in the U.S. have ten or more credit cards. That is amazing! Who needs 10 credit cards? And more to the point, what are the consequences of so much easy credit floating around the average American household? I’ll tell you what the result is – more »

Ways to Reduce Credit Card Debt – Avoid Serious Debt Problems

When trying to get out of debt, the decision to cut up your credit cards needs to be looked at on a case by case basis. There are many ways to reduce credit card debt and there are many different circumstances that cause most debt problems in the first place. One of the most important more »

Looking For Online Debt Advice?

Think of selecting a company to assist you in clearing out your debt in the same way that you select any other important financial service you use. You want to be especially careful when seeking out professional services that deal with your money. There are many websites owned by debt relief companies offering online debt more »

How Do I Pay Bills With Debt Settlement Programs?

When using debt settlement programs to reduce the amount of debt you owe, you will pay the bills that qualify for the program to the settlement company, not your creditors (as you’d usually do). A typical large debt settlement company will set up a trust account on your behalf with a 3rd party organization like more »

What Are the 2 Golden Rules of a Successful Settlement for Debt?

When you hire a debt company to conduct a settlement for debt that you cannot repay, remember one key point – that your are HIRING them to do the work for you. You use their services because they are the professionals and will know the best way for you to use settlement to successfully get more »

How Do Credit Negotiation Services Get Rid of Debt?

To someone who does not understand the debt relief business and how it works, it can seem puzzling that you can reduce and eliminate your debt without filing for bankruptcy. To many people who are in serious need of debt help, it sounds too good to be true that credit negotiation services can get rid more »

How Are Credit Scores Determined?

Yes, the dreaded and mysterious credit score which is a far more important number in our lives than anyone would like to admit. However, few of us understand how are credit scores determined. Truthfully, it matters because it dictates how much we pay for any type of loan we need whether it is short term more »

Can I File Bankruptcy?

There are 2 common types of bankruptcy, chapter 7 and chapter 11. The new bankruptcy laws (actually almost 2 years old now) make the common practice of filing chapter 7 bankruptcy much more difficult. Prior to the new laws, for most people who asked “Can I file bankruptcy?”, the answer was a resounding “yes, no more »

Credit Card Debt Help – Choosing the Best Debt Company

You want to know who’s the best at helping people like you get out of debt providing credit card debt help services? Like any service, “best” really depends on what is right for you. I have researched many debt companies personally and have helped over 15,300 people through this website. There are so many debt more »