Reducing the High Cost of Credit Card Debt
Consumers pay over $100 billion every year on credit card interest charges and fees. We explain how to minimize the high cost of credit card debt...Read full article
Category: Debt Advice
Expert debt advice that helps you take control of your financial world.
Managing debt is an essential skill for financial stability. But with record-levels of consumer debt in the U.S. many households struggle to stay ahead of their obligations. Consolidated Credit’s certified team of experts specializes in understanding today’s financial landscape so we can help people navigate it effectively.
The articles in this section tackle today’s biggest debt challenges, offering advice for how to get ahead. We offer practical debt advice for home, auto, student loans and (of course) high interest rate credit cards. If you need to find debt relief, visit Consolidated Credit’s Debt Solutions Guide.
Which State Has the Highest Student Loan Debt?
A new study from WalletHub explores which state has the highest student loan debt and which borrowers have the biggest student debt burden...Read full article
Dealing with Debt Caused by Domestic and Economic Abuse
Domestic abuse survivors often amass debt getting out of a relationship or from economic abuse. Consolidated Credit helps victims pay off their debt...Read full article
US Consumer Debt Eclipses Mortgage Debt
For the first time, US consumer debt has eclipsed mortgage debt, because Americans have more household debt tied up in credit cards and student loans...Read full article
More Americans Focus on Paying Down Debt in 2018
Americans hit record high credit card debt levels at the end of 2017, topping $1 trillion in revolving debt. The good news is that consumers repaid $40.3 billion in the first quarter of this year. Consolidated Credit offers three tips for paying down debt yourself...Read full article
74% of Americans are Getting Married with Debt
Three out of four couples will use credit to finance their wedding, with an average price tag of $33,391. We explore why getting married with debt is a fast way to ruin your relationship and offer tips on how to enjoy a debt-free wedding...Read full article
Which State Has the Most Credit Card Debt in 2018?
Americans have more credit card debt than ever, but four states outspend the others significantly. Learn which state has the most credit card debt and what you can do to pay your part of it off...Read full article
Student Loan Interest Rates Set to Rise Again for 2018-2019
Federal student loan interest rates are set to increase for the second year in a row on July 1 of this year. Learn what parents and grads can do to keep education borrowing costs low to avoid problems down the road with student loan debt...Read full article
Is There a Tie between Student Loans and Credit Health?
Is there are correlation between student loans and credit health? A new FICO study suggests that although student loan borrowers don’t always have bad credit scores, having student loans may make overcoming financial challenges much harder...Read full article
Which Cities Have the Biggest Credit Card Debt Problems?
Credit card debt problems are getting worse nationwide, but the increases are not equal everywhere. We look at the cities with the fastest growing credit card balances and offer advice on how to pay off debt fast...Read full article
Is Debt Delaying Your Retirement Savings Goals?
A new survey finds that American workers that hold non-mortgage debt, such as credit card debt, are much less likely to save for retirement. Consolidated Credit explains how to save and pay off debt...Read full article
Are Long Term Auto Loans the Best Commitment?
A new report finds long term auto loans are getting longer and longer, leading to more time in debt and higher costs due to added interest charges. Do borrowers really benefit from that commitment?..Read full article
What States Can Revoke Professional Licenses for Defaulted Student Loans?
A Texas teacher lost his dream job as a teacher after he defaulted, and Texas isn’t the only state that does this. We detail what states can revoke professional licenses for defaulted student loans...Read full article
Can You Afford the Cost of Debt?
Another interest rate hike by the Federal Reserve means that the cost of debt for consumers just got higher again. WalletHub has revised their map of cities with the most and least sustainable credit card balances. Can you still afford to pay off your debt in a cost-effective way or do you need debt relief?..Read full article
Dealing with Medical Debt Collections and Accident Liens
If you took a trip to the emergency room after an accident, you might be surprised to learn you have a lien that gives the hospital a right to part of any claim you receive. It’s one way hospitals ensure they collect on your medical bills. We explain how to get out of medical debt collections...Read full article
Will Congress Act to Deliver Student Loan Relief?
As tuition costs continue to rise and students graduate with over $35,000 in student loan debt, on average, Congress is currently debating several options that could provide student loan relief to borrowers. But will the measures pass and is it enough to bring down college costs?..Read full article
Are Student Loan Debt Problems Holding You Back?
The new Federal Reserve Chairman Jerome Powell admits that student loan debt problems hold Americans back and could slow down economic growth. Learn how outstanding student loans can hurt your credit and what solutions you can use to fix your financial situation...Read full article
Past Due Debt Payments at an All-Time High
A new report finds that American consumers are breaking records with past due debt payments, while businesses are managing to keep up. If the economy is strong, then why are some many families facing collection accounts and credit damage?..Read full article
More Relief for Permanent Disability Student Loan Forgiveness
There’s good news for student loan borrowers with a permanent disability. New permanent disability student loan forgiveness rules will waive federal income taxes on student loans that qualify for discharge if you are totally and permanently disabled...Read full article
Which Cities are Home to the Highest Credit Card Debt?
A new study finds residents in the South may be struggling the most to pay off their credit cards. Each week, Consolidated Credit searches for financial research that can help… Read full article
What Causes America’s High Credit Card Balances?
Americans have record high credit card balances that are often caused by covering daily expenses to make ends meet. We look at reasons for debt and offer helpful tips on how to achieve a balanced budget so you can avoid credit card debt...Read full article
Good Debt vs Bad Debt
A new study finds that 2 out of 3 consumers believe they will never be debt free, but that’s not necessarily a bad thing when you consider the difference between good debt vs bad debt. We explain the difference so you can get the right financing for your needs...Read full article
Average Credit Card Debt by State
As we head into 2018, U.S. consumers have record high debt levels, but does it affect all states equally? We look at Experian’s 2017 state of credit report to understand average credit card debt by state and tell you what you can do to get out of debt...Read full article
Credit Card Use Continues to Climb
Consumer credit card use continues to climb, now beating pre-recession levels of spending. Credit card debt increased by 13% in November alone, leading to an all-time high of $1.023 trillion. Here’s what you can do to pay off your debt...Read full article
