Debt guides
Plain-English answers on debt settlement, consolidation, bankruptcy and taxes, built from FTC, CFPB, IRS and U.S. Courts sources.
- Debt settlement vs. bankruptcyCompare debt settlement and bankruptcy side by side: cost, timeline, credit impact, taxes, lawsuits and who each one fits. Plain-English guide.
- Debt consolidation vs. debt settlementDebt consolidation and debt settlement both target credit card debt but work in opposite ways. Compare cost, credit impact and who qualifies.
- How debt settlement affects your creditWhat happens to your credit during and after debt settlement: late payments, settled accounts, how long they stay on your report, and how to rebuild.
- Is forgiven debt taxable?When a creditor forgives $600 or more you may get a 1099-C and owe tax. Learn when canceled debt is taxable, the insolvency exclusion, and Form 982.
- How to spot a debt relief scamUp-front fees, guarantees and 'new government programs' are classic debt relief scam signs. Learn the federal rules that protect you and where to report a scam.
- How much does it cost to file bankruptcy?Bankruptcy court fees are $338 for Chapter 7 and $313 for Chapter 13. Here's what attorneys, required courses and other costs add, plus fee waivers.
Want numbers instead? Try the debt relief calculator, or see bankruptcy filings by state.