How to Start Crushing Your Debt
- Understanding Debt: How and Why to Live Without It
- Introduction to Dumping Your Debt
- 4 Questions to Ask Before Transferring Your Debt Balance
- How to Sell Your Car if You’re Upside Down on It
Choose Your Method
Pay Off Credit Card Debt
- 6 Take-Action Steps to Get Out of Credit Card Debt
- Balance Transfer to Lower Your Interest Rates? 4 Questions to Ask First
Pay Off Your Mortgage
- Is it Dumb to Pay Your Mortgage Off Early?
- Everything You Need to Know Before Paying Off Your Home Early
- 3 Powerful Strategies to Pay Off Your Mortgage Early
Pay Off Student Debt
- Plan Ahead to Pay for Your College Education
- 3 More Strategies to Plan Ahead for Student Debt
- 5 Ways to Lower Student Loan Payments
- 4 Great Strategies for Paying Off Student Loans
- How to Actually Get Your Student Loans Forgiven
The Best Books on Getting Out of Debt
- The Total Money Makeover by Dave Ramsey
- Rapid Debt Reduction Strategies by John Avanzini
- The Richest Man in Babylon by George Clason
- Maxed Out: Hard Times in the Age of Easy Credit by James Scurlock
- Zero Debt: The Ultimate Guide To Financial Freedom by Lynnette Khalfani-Cox
- Debt Free for Life by David Bach
- Negotiate and Settle Your Debts by Mandy Akridge
- How to Get Out of Debt, Stay Out of Debt, and Live Prosperously by Jerrold Mundis
- Debt Free: How to Manage Your Money and Get Out of Debt on Any Income by Julianne Peyo
- Debt is Slavery: and 9 Other Things I Wish My Dad Had Taught Me About Money by Michael Mihalik
Most Recent Articles on Paying Off Debt
Want to know a secret about debt consolidation loans? They usually don’t work.
Living a debt free life is something we all dream about. But for many of us, it can feel like it’s just not in the cards.
As anyone who has ever tried to start a business, or has encountered significant unanticipated expenses, or had to endure a gap in employment before starting a dream job can attest, savings are the lynchpin of financial independence.
There is a comfort in certainty, and unfortunately we don’t live in a very certain world.
According to the survey made on the Americans, It Was discovered that one in eight Americans don’t think they could ever pay off what they owe.
Americans struggling with substantial mortgage debt that exceeds the value of their home have several options, including a short sale, foreclosure, or mortgage restructuring. Traditionally, any of these options that results in forgiving or discharging some of the debt on their primary home results in a form 1099-C, Cancellation of Debt, from the lender.
The IRS considers most forms of cancelled debts, including mortgage debt, as income for the recipient. This can mean a tax bill of thousands of dollars, even if you lost the home in foreclosure.
The Mortgage Forgiveness Debt Relief Act of 2007 was passed at the height of the foreclosure crisis, gives homeowners tax relief from this forgiven debt. Here’s what you need to know about the Mortgage Forgiveness Debt Act.