Creditors don’t follow a single timeline for accepting settlement offers, but the timing of your offer still matters. Elena Safonova/Getty Images High borrowing costs over the last few years, coupled with other economic hurdles, like high (and now rising) inflation and a tough job market, have left many borrowers with balances that are harder and … Read more
Debt relief can be an effective path forward, but it doesn’t always deliver immediate relief from creditor contact. Getty Images/iStockphoto Credit card balances are sticking around longer — and costing a lot more — in today’s economic environment. Case in point? If you’re carrying a revolving balance right now, it’s likely accruing interest at a … Read more
Completing a debt relief program is a big step, but it doesn’t automatically close the door on collection activity. Wong Yu Liang/Getty Images A mix of record-high credit card balances, persistent (and rising) inflation, and elevated credit card rates is pushing more borrowers to seek help managing their debt right now. In turn, debt relief … Read more
A creditor’s refusal to negotiate isn’t necessarily the end of the road, but it can limit certain paths forward. Krisanapong Detraphiphat/Getty Images As credit card rates remain high, balances climb and payment delinquencies tick upward, more borrowers are reaching out to their credit card issuers and creditors in hopes of negotiating lower balances, reduced interest … Read more
Carrying $20,000 in credit card debt is not ideal, but it’s a manageable problem with the right consolidation tool. Peter Dazeley/Getty Images Credit card balances have become one of the most persistent financial pressures borrowers face in today’s economic landscape. Not only is credit card debt rising rapidly nationwide, but average credit card interest rates … Read more
When choosing between debt settlement and debt management, borrowers should focus on both speed and fit. PM Images/Getty Images Americans are currently carrying record levels of household and credit card debt and the cracks from the extra pressure are starting to show. Credit card balances alone have climbed past $1.23 trillion, while average credit card … Read more
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Debt relief can reduce or eventually stop collection activity, but it rarely happens overnight. Pla2na/Getty Images Mounting financial pressure is nothing new for borrowers in today’s economic landscape, but the pace at which it is escalating has recently become harder to ignore. Right now, for example, household debt is at its latest record high, and … Read more
It’s rarely too late to settle a debt, but it can become more difficult and more costly as the process advances. Hanizam/Getty Images When it comes to unpaid debts, many delinquent borrowers assume that once a balance gets old enough, it simply disappears. The reality is more complicated, though, and more consequential. The longer a … Read more
A missed debt settlement payment can undo months of progress and lead to other repercussions. Getty Images/iStockphoto After years of elevated borrowing rates and rising living costs, Americans have racked up a staggering amount of debt and it’s having a significant impact on their financial health. Credit card balances alone have topped $1.23 trillion, and … Read more