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Credit and Debt: Improve Your Score and Pay Down What You Owe

Guides to credit scores, credit reports, disputing errors and paying down debt, plus what to know before hiring a credit repair or debt relief company.

A young couple going over their bills at the kitchen counter and cutting up a credit card

Your credit affects the interest rate you pay on a mortgage, a car loan or a credit card, and sometimes whether you get approved at all. Debt that grows faster than you can pay it down can limit your choices for years. The good news is that the rules for credit reports and debt collection give you real rights.

This section explains how credit scores are calculated, how to get your free credit reports, how to dispute errors with the credit bureaus, and what debt collectors can and cannot do under federal law. We also cover practical ways to pay down debt, such as the avalanche and snowball methods, consolidation and when a nonprofit credit counseling agency may help.

If you are considering a credit repair or debt relief company, read our guides first. Federal law limits what these companies can charge and promise. No one can legally remove accurate, timely negative information from your credit report, and anything a company can do for you, you can usually do yourself for free.

Guides in Credit & Debt

A woman at a wooden table by the window talking on her phone, with a notepad, pen, calculator and coffee mug in front of herManaging debtHow to Negotiate With Creditors: A Step-by-Step GuideLearn how to negotiate with creditors and debt collectors: what to ask for, how to set a payment you can afford, and why to get every deal in writing.Read the guide →A smiling woman in a green sweater at a wooden dining table checking her phone next to a mug, a blank calendar and a set of keysCredit repairHow to Rebuild Credit: 7 Steps That Work (And 4 That Don't)How to rebuild credit after a setback: pay on time, keep card balances low, try a secured card or credit builder loan, and fix report errors for free.Read the guide →A middle-aged couple at a kitchen table in the evening, the woman pointing at a stack of bills while the man listens beside a calculatorPaying down debtDebt Consolidation vs. Debt Management vs. Debt Settlement: How They DifferDebt consolidation vs. debt management vs. debt settlement: how each works, what it costs, the risks the FTC and CFPB flag, and how to choose.Read the guide →A man in glasses at a kitchen table in the evening highlighting lines on a stack of printed papers, with a mug and a closed laptop nearbyCredit repairHow to Remove Collections From Your Credit Report (What Works and What Doesn't)How to remove collections from your credit report: which entries you can dispute, how the dispute process works, and why accurate collections usually stay.Read the guide →A young woman at a dining table writing in a notebook beside a few opened envelopes and a calculator as she plans her debt paymentsPaying down debtDebt Snowball vs. Avalanche: Which Payoff Method Fits You?Debt snowball vs. avalanche: one pays the smallest balance first, the other the highest interest rate. Here's how each method works and how to choose.Read the guide →A woman at a home desk by a window folding a letter to put into an envelope, with a pen and a laptop nearbyDealing with collectorsHow to Write a Debt Validation Letter (With a Free Sample Template)A debt validation letter asks a collector to verify a debt before you pay. Here's when to send one, what to ask for and a free sample letter you can copy.Read the guide →A brother and sister on a living room couch going over paperwork together beside a laptopFuneral costsHow to Pay for a Funeral With No Money: Government and Local HelpHow to pay for a funeral with no money: use your FTC Funeral Rule rights to cut costs, then check Social Security, VA, FEMA and local burial assistance.Read the guide →A man at a home desk writing a dispute letter, with a highlighted printed report and an envelope beside himFix it yourselfHow Do You Dispute an Error on Your Credit Report?Found a mistake on your credit report? Dispute it with the credit bureau and the company that reported it. The bureau generally has 30 days to investigate.Read the guide →

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