The Ultimate Guide to Becoming Debt-Free
From debt consolidation loans to credit counseling agencies, here's everything you need to know to pay off your bills.
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Check out our guide to becoming debt-free, which has info on how debt consolidation loans work, the top credit counseling agencies, and more.
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How Do Debt Consolidation Loans Work, Exactly?
You're up to your eyeballs in debt and want to do something about it, but you don't know where to start. Then you remember a commercial you saw about debt consolidation — it promised to end your woes for good with one low monthly payment. Check out our guide on how consolidation loans work, which answers questions like these:- What is a debt consolidation loan?
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- What kinds of fees can you expect?
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- Are debt consolidation loans a good idea?
Top 4 Credit Counseling Agencies
| Name | Locations | Contact Information |
|---|---|---|
| CCCS | 63 locations across 17 states: GA, IL, IA, KS, KY, MO, NY, NC, ND, OH, OR, SC, SD, TN, VA, WV, WI |
Contact the NFCC at 1-800-388-2227; fill out a form |
| GreenPath Financial Wellness | 64 locations across 22 states: AZ, CA, CO, FL, GA, ID, IL, IN, IA, MI, MT, NE, NV, NH, NY, OH, OK, PA, TN, TX, WI, WY |
Call 800-550-1961; request a call |
| Money Management International | 43 locations across 30 states: AL, AK, AZ, AR, CA, CO, CT, FL, GA, HI, IL, LA, ME, MD, MA, MS, MO, NV, NJ, NM, NY, NC, OK, OR, PA, TX UT, VA, WA, WV |
Call 866-889-9347; fill out a form |
| Navicore Solutions | 11 locations across 11 states: CA, CT, IL, MA, MN, NV, NJ, NC, PA, TX, UT |
Call 1-800-992-4557; fill out a form |
Are Debt Relief Programs a Good Idea?
Finding yourself in a tough spot financially can be overwhelming. Debt relief programs might promise to solve all your problems with one easy payment, but is there any truth to that? And what are the downsides?Check out our guide to debt relief programs, and what to look for alternatively.
There's no guarantee that debt relief companies will be able to negotiate a better agreement for you.
4 Reasons Why Making a Minimum Payment Is Bad
When it comes to credit cards, making the minimum payment is better than nothing — but don't pat yourself on the back if you're doing this on the regular. Very little of your payment is being applied to your actual credit card debt.That's tough to hear for many folks. Research shows that 37% of U.S. households carry a credit card balance from month to month, and the average balance at the end of 2018 was $6,506. Read on to learn why making a credit card minimum payment is a bad idea.
Senior Staff Writer/Consumer Analyst
Julie's work has been featured on CNBC, GoBankingRates, Kiplinger, Marketwatch, Money, The New York Times, Real Simple, US News, WaPo, WSJ, Yahoo!, and more. She's extolled the virtues of DealNews in interviews with Cheddar TV, GMA, various podcasts, and affiliates across the United States, plus one in Canada.
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