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Category: Debt

Not buying things you don’t have the money for might seem like Personal Finance 101, but our modern world often depends on taking on debt. At some point in life, most people take out a loan, whether it be for a small business, college, or a new home. Debt can be a force for good as long as you pay it back reliably, raising your credit score.

There is however, a dark side to debt. Sometimes, you have to take on debt unexpectedly for situations outside of your control, and that can quickly escalate if you aren’t prepared. Worse, there are people who prey on others’ debt for their own profit. You don’t want to fall prey to this side of debt, but it can be difficult to know where the line is. Educate yourself on how to responsibly take on new debt and pay off existing accounts.

What Is an Income Tax Loan and How Does It Work?

A woman signing an income tax loan form while a financial advisor points where to sign.

For most people, filing taxes means getting a refund. Tax time comes but once a year, but what if you need your refund from the IRS sooner? If you can’t wait on your tax refund, a tax refund loan might be the answer. Officially known as a refund anticipation loan (RAL), a tax loan is […]

Student Loan Debt Versus Credit Card Debt: What Should I Prioritize?

A financial advisor writes in a notebook while typing on a calculator with another notebook in front of him labeled "debts."

Making a plan for paying off student loans can be intimidating, especially if you have multiple sources of debt. Many former students have to deal with both tuition loan payments and credit card debt. How do you start tackling this debt, and which debts should you focus on first? How can you create a realistic […]

Good Debt vs Bad Debt: The Difference and Figuring Out Which Is Which

A couple looking over documents to determine their good and bad debt.

Debt is generally associated with negativity and poor financial decisions. However, it’s important to understand that while there is bad debt, there’s also good debt. Sometimes debt is necessary and taking on certain debts can actually improve your financial situation in the long-run or improve your life in general. Distinguishing between good and bad debt […]

How To Dispute a Medical Bill Effectively

A couple sit across from a doctor at a table, disputing their medical bill.

Hospitals and insurers are humans too. This means they are capable of making mistakes, something that is extremely common with medical bills. From entering incorrect codes to overcharging for an incorrect procedure, medical billing can get messed up. Whether a mistake was made or not, it’s important to understand that you can still dispute a […]

How Medical Bill Collections Works

An open wallet spills coins over a medical bill that is rubber stamped "final notice."

The costs of healthcare in the United States are on the rise, so much so that some people avoid doctors and hospitals in the event of illness or injury. While this isn’t necessarily safe, it’s understandable, considering the increasing costs of medical care and the rising amount of medical debt. If you have outstanding medical […]

What Is Revolving Debt?

Stressed young couple with laptop and calculator counting credit debt

Revolving debt, also known as revolving credit, is a type of debt by which you borrow against a credit limit. Common types of revolving debt can include credit cards, home equity lines of credit (HELOC), and personal lines of credit. When managed responsibly, revolving debt can be a great way to increase your credit score […]