DEBT MANAGEMENT » Get out of Debt

By Nicholas Pell

America’s debt crisis probably affects you or someone you know–the average debt load in America is just under $16,000. Maybe you’ve even tried several debt solutions, but still feel crushed underneath its weight.

Perhaps by doing things that won’t get you out of debt, you are cancelling out the things that will. Here are a few behaviors debtors should avoid when trying to get back in the black.

With news that European Union leaders have agreed to a debt deal, world investment markets have rallied. The Greece debt crisis, which has presented an ongoing struggle for Europe for many months, may soon come to an end and investors in the World Market, including the U.S., are showing their excitement.

Europe Establishes Debt Deal, Takes Losses on Greek Bonds

By Jenny Kerr

For many of us, credit card debt can be an overwhelming source of financial stress. It can be difficult to keep up with minimum payments each month and it becomes hard to stay ahead when we rely on credit cards as a fall-back for monthly spending.

In Women and Debt: Ditch the Credit Card to Start Saving for Retirement, Jenny Kerr of TheJennyPincher.com explains that women face unique challenges when it comes to reducing credit card debt and putting money toward their retirement funds. Here are the statistics used in the article–read on to learn more about a particular fact:

Credit card statistics, industry facts, debt statistics (CreditCards.com)

By Tara Struyk

When Monique Harps makes the last payment on her student loan debt, she plans to celebrate with a cake–and perhaps a trip to Brazil. After all, she’s about to have a whole lot more spending money; after four years of hard work, she’s less than a year away from putting her $105,000 in debt to rest.

In New Victims of the Struggling Economy: Debt Collectors? we explain how the depressed economy has made it difficult for debt collectors to do their jobs–at a time of record level debt, Americans can’t afford to make payments on their debt even if they really want to do so. Here are the references used in the article:

Debt collectors: Business great but hard as ever (Associated Press)

By Nicholas Pell

You won’t likely shed any tears over this: Being a debt collector is harder than ever. While most Americans want to get out of debt using a debt management plan or debt consolidation, many can’t afford the payments right now. This complicates the debt collection process. Debt collectors aren’t dealing with deadbeats ducking obligations–they’re trying to get blood from a stone at a time of record debt.

By Stacey Bumpus

Managing the many challenges that life brings can be overwhelming, but individuals who are diagnosed with breast cancer have even more on their plates as they push to heal while struggling to maintain their everyday lives.

Unfortunately, because the costs associated with treating cancer can be astronomical, paying for care can be challenging for patients and often leads to debt. That’s why during Breast Cancer Awareness Month, organizations are highlighting financial aid opportunities available for individuals with b

In honor of Breast Cancer Awareness month, we put together a list of sources of financial aid for cancer patients in Don’t Let Treatment Put You In Debt: Financial Aid for Breast Cancer Patients. Below is contact information for these organizations.

The Pink Fund

By Casey Bond

Every one of life’s major milestones comes with financial considerations that must be made before taking that next big step. In this series, we walk you through these financial considerations to help you determine if you’re truly ready to cross life’s major bridges and so you can do it debt-free.