FinMasters logo
  • Credit Cards
    • Best Credit Cards for Excellent Credit
    • Best Credit Cards for Good Credit
    • Best Credit Cards for Fair Credit
    • Best Credit Cards for Poor Credit
    • Best Credit Cards for Very Poor Credit
    • Best Secured Credit Cards of 2022
    • 6 Best Unsecured Credit Cards for Bad Credit in 2022
    • Best Online Store Credit Cards With Guaranteed Approval in 2022
  • Loans
    • Best Personal Loans for Excellent Credit
    • Best Personal Loans for Good Credit
    • Best Personal Loans for Fair Credit
    • Best Personal Loans for Poor Credit
    • Best Personal Loans for Very Poor Credit
    • Best Auto Loans for Excellent Credit
    • Best Auto Loans for Good Credit
    • Best Auto Loans for Fair Credit
    • Best Auto Loans for Bad Credit
    • Best Auto Loans for Very Bad Credit
  • Credit
    • Best Credit Building Tools
    • Best Credit Builder Loans
    • Best Rent Reporting Services
    • Best Credit Repair Companies
    • Best Tax Relief Companies
    • Best Credit Repair Software (2022)
    • Best Debit Cards That Build Credit
    • 5 Ways to Build Business Credit
    • How To Get A Free Credit Score
  • Investing
    • Best Investing Tools
    • Best Stock Screeners
    • Best Stock Backtesting Platforms
    • Best Paper Trading Platforms
    • Stock Calculator
    • How to Buy IPO Stock
  • About Us

Debt

Dealing with debt can be scary and overwhelming. Getting out of debt is tough, but it’s worth it. We’re here to help with that. Read advice on dealing with debt, strategies for paying it off, best debt relief options, bankruptcy and much more.

Get Out of Debt

Learn what you need to do

Find Debt Relief

Explore your options

Deal With Debt Collectors

Know your rights and what to do

Debt Solutions

Explore the most common ways to take control of your debt and get tips on what to look out for when seeking help.

Credit Counseling 101

9 mins read

Debt Consolidation 101

12 mins read

Debt Settlement 101

10 mins read

Personal Bankruptcy 101

12 mins read

Best Tax Relief Companies In 2022 – Costs & Reviews

12 mins read

Debt Payment Strategies: How to Prioritize Your Debt Payments

6 mins read
Explore more debt topics: Debt Collection | Bankruptcy | Tax Debt Relief

Debt Management Tools

Use these free tools to help you pay off debt and stay debt-free.

Debt Consolidation Calculator

See how much you can save with a debt consolidation loan.

Debt Settlement Letter

If you decide to settle your debts, you might need to write a debt settlement letter.

Early Payoff Calculator

See how sooner you could pay off a loan if you decide to start making extra payments.

Student Loan Refinance Calculator

See how much you could save (or not) if you choose to refinance your student loans.

Debt-to-Income Ratio Calculator

Compare your gross monthly income to your total debt payments.

Budget Calculator

Get a detailed overview of how much money you have coming in and what you’re spending it on.

Latest Articles

5 mins read

Can I Settle with the IRS Myself? (Best DIY Tips)

If you owe IRS back taxes, you may be wondering if you can settle with IRS yourself of if you'll need professional help from a CPA or tax relief company. Learn your options.

Read More
How to Set Up an IRS Payment Plan

5 Easy Steps to Set Up an IRS Payment Plan

6 mins read
Pros and Cons of Hiring a Tax Relief Company

Pros and Cons of Hiring a Tax Relief Company (2022)

7 mins read
When Should I Hire a Tax Debt Relief Company?

When Should I Hire a Tax Debt Relief Company? Top 4 Reasons

We review the top four most common reasons for when you should hire a tax debt relief company. We address everything from when your tax bill is past due to if you are looking for a new payment plan.

How Does Tax Relief Work?

How Does Tax Relief Work? 4 Tips To Rid You Of Back Taxes

If you owe money to the IRS you may be wondering, How does tax relief work? We review four tips taken by taxpayers to get rid of their back taxes.

1 2 3 … 13 Next »

FAQs

  • Can you go to jail for debt?

    Today, you cannot be sent to jail for a consumer debt (a credit card, medical bill, or payday loan). Tax debt, alimony, and child support are another story.

    Despite this, some people are still finding themselves facing – and even serving – jail time for unpaid debts. Learn about how that happens

  • Can you walk away from debt?

    You can choose to walk away from debt, but expect any number of these things to happen:
    – aggressive demands from debt collectors
    – repossession
    – lawsuits from debt collectors
    – your wage can be garnished
    – lien on your assets…

    Learn more about why walking away from debt is not a good idea

  • What is the statute of limitations on credit card debt?

    The statute of limitations on credit card debt varies state by state and it varies from 3 to 10 years.

    See the statute of limitations for each state

  • Where can I get help paying medical bills?

    There are several places to look for help with your medical bills. In addition to government programs like Medicaid, Medicare and CHIP there is a number of non-profits that are able to assist you. Some of them are:
    – RIP Medical Debt
    – Patient Advocate Foundation
    – PAN Foundation…

    See the full list here

  • Is paying off a loan early a good idea?

    Paying off a loan early might be a good idea and it might not be. The choice will depend on your personal goals, your financial situation, and the terms of your loans.

    See all the pros & cons of paying off a loan early

FinMasters Logo

Our goal at FinMasters is to make every aspect of your financial life easier. We offer expert-driven advice and resources to help you earn, save and grow your money.

Tools & Resources

  • Stock Spotlight
  • The Brief
  • Stock Calculator
  • Stock Research Reports
  • Financial Calculators

About

  • About Us
  • Editorial Policy
  • Latest Articles
  • Affiliate Disclosure
  • Contact Us
The content on finmasters.com is for educational and informational purposes only and should not be construed as professional financial advice. Finmasters is not a financial institution and does not provide any financial products or services. We strive to provide up-to-date information but make no warranties regarding the accuracy of our information.
Copyright © 2022 FinMasters | A Vertigo Studio Brand. All Rights Reserved
  • Terms
  • Cookie Policy
  • Privacy Policy
X

Must Reads

Why Are Gas Prices so High? 18 Questions Answered!

We did a little mythbusting on one of the burning questions of the moment. Here's what you need to know about why gas prices are so ...

How Does Inflation Works: An Illustrated Guide for the Rest of Us

With all this talk about inflation have you ever stopped to consider if you really know what inflation is? If you’re not really sure - join the club and read on. ...

12 Valuation Ratios Every Investor Should Know

Learn all about the 12 valuation ratios that allow investors to quickly estimate a business’s value relative to its ...

Popular Articles

12 Best Rent Reporting Services In 2022

Not all rent reporting services are created equal. To maximize your credit score increase you need to choose the best rent reporter for you. Learn ...

The 15/3 Credit Card Payment Hack: How, Why, and When It Works

Here's what you should know about the 15/3 credit card payment hack, including how it works and whether you should use ...

Yes, You Can Build Credit with a Debit Card. Here’s How!

In this blog post, we take a closer look at why you couldn't build credit with a debit card before, and why you can ...