Hardship assistance for credit card debt

Q: I accumulated about $75,000 in credit card debt, but none of them help each month when all of my income – and sometimes more – goes to pay the minimums.
A credit counselor has suggested I contact the companies for “hardship assistance,” but who do I call or write?
– Misty
A: Debt settlement may seem enticing, [...]

Creating Your Own Debt Management Plan

What many people don’t realize is that, when it comes to debt management, programs can’t do for you what you couldn’t do for yourself. The main advantage of entering a debt management program is that someone else does the leg work for you. However, it is possible to take care of debt management on your [...]

Worst strategy to tackle debt: Taking no action

Pretty much everyone is trying to stretch their limited bucks. Most of us are also juggling debts, whether it’s a mortgage, student loans, credit cards – or all three.
Debt certainly isn’t always a bad thing. A mortgage can help you afford a home. Student loans can be a necessity in getting a good job.
Both are [...]

Credit Cards: What to do When Your Minimum Payment is Raised

One of the biggest credit card issues right now is the fact that Chase is raising minimum payments. For many people, this means that their minimum payment just became unaffordable. Double and triple minimum payments are common, and this is causing financial hardship. In order to keep the old 2% minimum payment, customers have to [...]

Debt Consolidation FAQ

Credit card debt consolidation is a service which allows one to make just one payment to the consolidator, instead of numerous smaller payments to many credit cards. This is probably the most effective way to reduce and restructure one’s credit card debt.
Is credit card debt consolidation a loan?
No, credit card debt consolidation is not a [...]