Dealing with debt is a concern for many people. Americans carried debt of almost $2.4 trillion as of October 2010, according to the Federal Reserve. While most people manage their debt well, many people have trouble paying their minimums every month. Whether you are struggling with debt, want to get out of debt faster or want to make the best of the debt you have, you can find a wide range of information and inspiration online.
Message Boards and Internet Forums
A countless number of forums and message boards are devoted to debt and credit topics. Forums provide the opportunity for people to interact with others who are or have been in a similar situation, and to discuss various strategies for dealing with debt. Some forums will even help you develop a personalized budget and debt payoff plan. Carefully evaluate the advice you receive from forum members, however; most participants are not financial professionals and the advice they give might not be appropriate for your particular situation.
Credit Report and Score Providers
The three main credit bureaus -- Experian, Equifax and TransUnion -- provide consumers with paid access to their credit report and score, credit monitoring and free educational materials and calculators for managing debt and credit. Other companies also provide these services at various levels, some for a fee and some free; most also have educational materials available. Every American is entitled to one free credit report per year from each of the three bureaus.
Debt and Credit Solution Companies
Many debt management, debt settlement and credit counseling companies offer debt help and advice online. These companies typically charge a fee to help you manage your debt, develop a money management plan or make arrangements with your creditors to pay off your debt. Free information on dealing with debt and maintaining good credit is available on many sites, with in-depth and personalized information often available for a fee.
Government and Financial Sites
The Federal Trade Commission, other federal agencies, and various state and local governments have websites that offer information, education and resources to help people deal with their debt. Many financial information sites and financial service companies also provide free help and debt advice, sometimes accompanied by a recommendation for a product or service the site sells. Financial sites often have a variety of calculators online to help you determine such things as how quickly you can pay off your debt, how much of a home mortgage you can afford or how much interest you will pay on your debt by the time it is paid off.
Financial Professional Sites
Financial professional websites frequently offer both free debt advice and the ability to purchase financial planning services, education or resources such as books or videos. Some financial professionals also include forums or blogs on their sites. These provide not only the professionals' advice but also help from other consumers facing or overcoming their debt.
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