Credit Advice » Debt


Is all debt bad? Is any debt good? How you perceive debt, and how it affects your credit, depends on many factors, including how much debt you have, how well you’re able to pay it, and the kind of debt. Too much debt is bad if it leaves you struggling to pay your monthly bills and affects your credit utilization ratio.

You have many options for dealing with debt and managing its impact on your credit. Explore to find out the impact of debt consolidation on your credit, how your spouse’s debt can impact your own credit, and whether or not you can remove existing debt from a bankruptcy.

What is Debt Management?

October 18, 2016

Dear Experian, I have significant credit card debt and I’m considering a consolidation loan. Is this a good idea? What other debt management options are there? – JCB Dear...

What is a cash advance? Will it hurt my credit to get one?

October 4, 2016

Dear Readers, We sometimes get asked what a cash advance is and if it can hurt credit reports and scores. A cash advance is essentially a short term loan...

Should I get a personal loan to pay off my credit card?

September 22, 2016

Dear Experian, The balance on one of my credit cards is so high that making payments has been difficult. What’s the best thing to do with minimal damage to...

I have a large amount of debt from payday loans. What do I need to know about payday loan relief and debt consolidation?

September 20, 2016

Dear Readers, We sometimes get asked about payday loans and debt consolidation. Payday loans are short-term loans where an individual can borrow funds needed to cover unexpected expenses until...

What is the statute of limitations on debt?

August 23, 2016

Dear Experian, What is the statute of limitations on debt? I have an account on my report that was sold to a collection agency. Does the statute of limitations...

What is a secured credit card and will it help my credit?

August 2, 2016

Dear Experian, I don’t have enough credit history to generate a score, so I got a secured card with a $500 limit.  I have been making small charges, less...

Score Didn’t Improve After Bankruptcy Removed

July 17, 2016

Dear Experian, I recently had a bankruptcy removed from my credit report, but it didn't change my score. When or how do you update the credit score? - PLM

Rumor to Leave Accounts Open is Correct

July 17, 2016

Dear Experian, My husband and I have several credit cards, all with limits under $1,500.00. We wanted to pay off and close the high-rate cards we don't use, because we...

Should You Cancel Credit Cards You Don’t Use

July 17, 2016

Dear Experian, How do you get rid of too many credit cards even if you haven't used them for years? Also, some credit card companies are charging fees. How do...

Removing Bankruptcy From Your Credit Report

July 14, 2016

Dear Experian, It's been just about 10 years since my bankruptcy was been discharged. How do I go about getting it removed from my credit report? - ENZ

How Long Before Paid Credit Cards are Updated

July 14, 2016

Dear Experian, I just paid off a lot of my credit card debt. When will I see it take effect on my credit report? - DUK

When Chapter 7 Bankruptcy is Deleted

July 14, 2016

Dear Experian, Does a Chap 7 bankruptcy drop off the report 10 years after filing date or the discharge date? - DGM