Lifestyle and Budget

Putting your debt eggs in one basket may not help unless you hatch a broader financial plan.

Maybe you can’t pay. Or maybe you won’t pay. Either way you have an old debt hanging out there. What if you do nothing about it?

Debt and retirement are a combination many of us would like to avoid. Here are some things older people should consider before borrowing money.

If a small business owner defaults on debt on a company credit card she issued to a former employee, is the worker responsible for the debt?

An offer to settle old debt for a 10th of what's owed may sound good, but get it in writing, and make sure you understand the consequences.

Debt-laden consumers can negotiate with credit card issuers to reduce the amount they owe or create a more palatable payment plan—if they know what to do. 

If you owe money, you ought to pay it. But that doesn't mean you should put up with harassment from collection agencies.

Banks may reject your credit card application, even for a secured card, while you're under the strict money diet imposed by a Chapter 13 bankruptcy.

Refinancing your mortgage might be an option even after going through bankruptcy.

If it's been years since your debt settlement, the credit damage is mostly behind you, so it's best to move on.

Some debt collectors are using the threat of being charged with a crime to scare consumers into paying debts they may not

Transferring credit card debt to a lower-interest card or home equity line of credit may help you become debt free faster -- if you're careful.

In some cases, debt settlement may be the right option, but verify first that you owe the debt, and then dole out the dough yourself.

Caution is good, but you don't have to wait for a zero-balance statement to use a credit card again. Paying on time avoids interest charges.

Just because you make a lot of money doesn't mean you're managing it well. If your debt load is higher than your salary, here's what you have to do.

Paying off credit cards via a home refinance could change your credit utilization and help your credit score, if you don't go charging again.

When you agree to pay a creditor a reduced, but fixed amount each month to satisfy an old debt and then default, you risk having to pay the full balance.

I have about $12,000 in credit card debt. I am about to lose my job, and I have no idea how I will continue to pay my creditors. Meanwhile, my husband has an extreme amount of debt in his own name. How do I get out of this mess? Should I file for bankruptcy? I have no other answer for my bills coming in, and I am extremely stressed.

It's tough to find that a card you never signed up for is dragging down your credit and chances for employment, but if you were just an authorized user, you'll get off easy.

Can they put a warrant out for my arrest? Also, I'm young and single, paying all my bills by myself, but don't always have the full minimum payment available. What happens if I just send in what I can? Can the creditor still take me to court? Can I be arrested? Will they put a warrant out for my arrest? I am so scared.