Debt basics
Rebuilding your credit after bankruptcy
You might think the goal of bankruptcy is getting your debts discharged. Yes, that will give you the restart you need, but it’s after discharge that the real work begins: rebuilding your credit.
Read Debt basicsHow much does bankruptcy cost, and how do you find help
It’s a frustrating situation to find yourself in. You might need bankruptcy because you're out of money, but filing costs money too. The good news is that the costs are usually lower than people expect, and there are real ways to cut them, including free help.
Read Debt basicsDebts bankruptcy can't erase
Bankruptcy can get rid of a lot of debt, including credit cards, medical bills, payday loans, and personal loans. However, it isn't a magic eraser. Some debts survive no matter which chapter you file.
Read Debt basicsWhat you keep in bankruptcy
The biggest fear most people have about bankruptcy is losing everything, which can keep them from filing in the first place. The truth is that people who file usually keep most or all of what they own, thanks to exemptions.
Read Debt basicsChapter 7 vs. Chapter 13: the two kinds of personal bankruptcy
When people talk about personal bankruptcy, they almost always mean either Chapter 7 or Chapter 13. Both can stop collections, but they work very differently, and there isn’t a single path forward that’s right for everyone.
Read Debt basicsEverything you need to know about the means test
Thinking about Chapter 7 bankruptcy? If so, you'll hear about the "means test" early on. The means test checks whether your income is low enough to erase your debts without a repayment plan, and most people who take it pass.
Read Debt basicsIs bankruptcy right for me? Signs it's time to consider it
If you’re finding that you just can’t make ends meet and creditors are hounding you, you've probably wondered about bankruptcy. It's a big step, and it isn't right for everyone, but for some people, it's a way to stop drowning and start over.
Read Debt basicsWhen to consider credit counseling
Credit counseling is free or low-cost help for people who feel overwhelmed by debt. It's worth knowing what it is and when it might be a good fit for you.
Read Debt basicsWhat debt consolidation means
Debt consolidation means combining multiple debts into one single payment. It can make managing what you owe simpler and sometimes more affordable.
Read Debt basicsSnowball vs avalanche method
Two simple, proven methods — the snowball and the avalanche — can help you pay down debt one step at a time, no matter where you're starting from.
Read Debt basicsHow to make a simple payoff plan
Getting out of debt feels overwhelming, but a simple payoff plan breaks it into steps you can actually follow — one at a time.
Read Debt basicsCan old debt be too old to collect
Old debt doesn't last forever. Learn how time limits on debt collection work and what they mean for you.
Read Debt basicsWhat debt validation means
Debt validation is your right to ask a debt collector to prove that a debt is real, belongs to you, and shows the correct amount before you pay anything.
Read Debt basicsWhat to do if a debt collector calls
If a debt collector calls, you have real legal rights that protect you. This guide walks you through exactly what to do, step by step, in plain words.
Read Debt basicsHow collections affect credit
When you stop paying a debt, it can get sold to a collection agency. Here is what that means for your credit and what you can do about it.
Read Debt basicsWhat to do after missing payments
Missing a payment can feel overwhelming, but it does not have to spiral out of control. Here is a calm, step-by-step plan to help you catch up and move forward.
Read Debt basicsWhat happens when you miss payments
Missing a payment can feel scary, but knowing what happens next helps you take the right steps. Here is a clear look at the process so you can act fast and limit the damage.
Read Debt basicsGood debt vs bad debt
Not all debt works against you. Here is a simple way to tell the difference between debt that can help you and debt that can hurt you.
Read Debt basicsHow debt works, in plain words
Owing money can feel overwhelming, but debt is simpler than it sounds. Here's a calm, clear look at what debt actually is and how it works.
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