The Truth of Credit

How does it happen?

Honestly, I look at credit reports every day and for the most part the vast majority are correct 99% of the time. I have had a few errors myself. My father and I have the same name and have found on more than one report that our credit histories are interwoven incorrectly.
The [...]

Is it possible to get out of debt?

Absolutely, there is no doubt that one day you can be debt free. However, to do so requires time and a lifestyle change. Wanting to rid your life of personal debt is a big decision that may seem promising in the beginning but the actual execution can be difficult.
The younger you [...]

Can they call me at work?

Yes, they most certainly can. However, some states are much more strict when it comes to the number of attempts a collector can make in a given month.
For a collector, having your work number is like money in the bank. One, because now it’s obvious you have money coming in [...]

What is a 1099-C (Cancellation of Debt)?

If your debt has been written off by a creditor then you may receive a 1099-C from the source (i.e Chase Bank, Bank of America or Discover). You must report this amount as personal income on your taxes because you never paid it back - thus it is considered income.

However, if [...]

Do you feel depressed or beyond help because of your debt? Cheer up! Here are 3 people who have “everything” yet they are in deeper debt than you’ll ever be. Some of these people, you’ll most likely be surprised to learn about.

Michael Jackson

OK, this one is obvious. Everyone knows about his Neverland Ranch foreclosure [...]