Debt Relief Blog — Page 10

More debt relief strategies, credit card debt tips, and financial advice from Adem Selita — CEO of The Debt Relief Company.

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Is Autopay a Blessing or a Ploy to Get You to Pay Less Attention to Your Bills?
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By Adem Selita

Is Autopay a Blessing or a Ploy to Get You to Pay Less ...

Automatic payments are not a net negative for everyone, some consumers will undoubtedly see a benefit and would simply prefer to keep their bills out of mind, out of sight and paid on time. There’s nothing wrong with that but it’s not going to work for everyone and many consumers are great at catching discrepancies, which there isn’t always a shortage of.

What is a Debt-to-Income Ratio?
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By Adem Selita

What is a Debt-to-Income Ratio?

A Debt to income ratio is simple math: take your total monthly debt payments and divide them by your gross monthly income (before taxes). Multiply by 100 to get a percentage.

What is a Utilization Rate?
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By Adem Selita

What is a Utilization Rate?

A utilization rate is the percentage of credit you are “utilizing” vs. the amount of credit you have available. So, if you have a credit card with a $10,000 credit limit on it but you are only using $400 of the available credit, your utilization rate is 4%.

How to Gamify Your Budget
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By Adem Selita

How to Gamify Your Budget

Many consumers love games. So, our goal today is to help turn a love for games and match it with something that is pretty boring: budgeting and money management. If you can turn budgeting into a game you can beat the high score and ideally be swimming in extra money and savings.

How to Become a Better Shopper
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By Adem Selita

How to Become a Better Shopper

Shopping comes naturally to some and unnaturally to others. Regardless of your opinion of shopping, it’s all something we need to do and something that we can all get better at doing. If you practice patience and are aware of the seasonality and cycles of sales you can save a lot of money and ideally become a better shopper for it.

Guide to Stock Buying
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By Adem Selita

Guide to Stock Buying

Investing allows you to store value and generate a return based on what you invest. Without it many consumers would have had a much more difficult time becoming homeowners and purchasing other types of assets.

How to Get Ahead Financially
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By Adem Selita

How to Get Ahead Financially

Not only is it getting harder to stay ahead or get ahead but it’s becoming so difficult that many consumers can no longer manage and are struggling to keep up.

The Main Challenges of Effective Budgeting
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By Adem Selita

The Main Challenges of Effective Budgeting

Budgeting effectively is not as easy as you would think. There are so many different types of bills and expenses that budgeting in today’s world currently leave us at a bit of a quandary in how to effectively manage all our bills.

Borrowing without a Specific Goal in Mind
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By Adem Selita

Borrowing without a Specific Goal in Mind

More often than not, loans or lines of a credit—without a specific goal in mind—almost always do more harm than good. When you borrow money for any reason or no reason at all, you are opening yourself up to various temptations and giving yourself opportunities to overspend.

Credit Cards After Bankruptcy
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By Adem Selita

Credit Cards After Bankruptcy

This surprises most people: you can often get approved for a credit card within weeks of your bankruptcy discharge. Not a great card, mind you — but a card. The timeline depends on which chapter you filed.

Is Trading a Good and Viable Side Hustle?
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By Adem Selita

Is Trading a Good and Viable Side Hustle?

Many people chose to trade stocks or cryptocurrencies as a source of secondary income. This might be a viable source of income for some but there is a lot of inherent risk involved with this strategy. There is always an inherent risk to both trading and investing so it’s of vital important that you take all precautions whenever possible and start off slowly if you’re just starting out.

How to Get Out of Debt With Bad Credit
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By Adem Selita

How to Get Out of Debt With Bad Credit

Most debt payoff advice assumes you're starting from a position of financial stability — decent credit, access to balance transfers, the ability to qualify for a consolidation loan. When your credit score is in the 500s or below, that advice doesn't apply.

What Happens When Banks Fail?
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By Adem Selita

What Happens When Banks Fail?

Banks fail when they become insolvent and are unable to meet their short-term payment obligations to other creditors and deposit holders or the total market value of their assets becomes less than total liabilities.

What is a Credit Limit?
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By Adem Selita

What is a Credit Limit?

A credit limit is the amount of available credit allotted to you on a particular revolving line of credit. Each credit card comes with different credit limits based on different factors and these limits can either increase or decrease based on different criteria and fluctuations in your credit score or income.

Overcoming Vehicular Homelessness
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By Adem Selita

Overcoming Vehicular Homelessness

There are many challenges for individual that are homeless and living out of their car. These consumers have to worry about taking a shower, something we often second guess.

Saving Money on a Tight Budget
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By Adem Selita

Saving Money on a Tight Budget

Most savings advice is written for people who have surplus income they aren't optimizing. Cut the streaming subscriptions, skip the daily coffee, pack your lunch — and the savings accumulate. That advice is mostly useless for people on a genuinely tight budget, where the problem isn't optimization but scarcity. When your income barely covers rent, utilities, groceries, and minimum debt payments, there's no obvious slack to redirect.

The Benefits of Credit Cards
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By Adem Selita

The Benefits of Credit Cards

Credit cards are not inherently bad. They are powerful financial tools that offer genuine advantages. The problem is not the card — it is the balance. Every benefit evaporates the moment you carry a balance from month to month. Understanding this distinction — when credit cards work for you versus when they work against you — is essential for anyone managing their financial life.

Tips to Never Miss a Bill Payment
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By Adem Selita

Tips to Never Miss a Bill Payment

If you fear missing payments, set up autopay on every recurring bill. This is the only advice you actually need — everything else in this post is a supplement for situations where autopay isn't available or isn't sufficient. Autopay removes the human variable from the equation entirely.

What’s the Best Amount of Credit Cards to Have?
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By Adem Selita

What’s the Best Amount of Credit Cards to Have?

The standard answer you will find on most personal finance sites is "3 to 5 credit cards" — and that answer is technically correct for someone with no debt, strong income, and disciplined spending habits. But that is not the situation most people asking this question are actually in

What is a Reverse Mortgage?
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By Adem Selita

What is a Reverse Mortgage?

A reverse mortgage is a loan for homeowners that are 62 years or older. With a reverse mortgage the lender makes mortgage payments to the homeowner (essentially the exact opposite of a mortgage). In order for an individual to qualify for a reverse mortgage, the mortgage must also be for the homeowner’s main residence.

How the U.S. Scoring System is Different from the Rest of The World
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By Adem Selita

How the U.S. Scoring System is Different from the Rest ...

Credit scoring systems vary widely across the globe. Some countries use multiple credit bureaus in order to report repayment history while others use none and rely more on self-reporting or income statements. The United States appears to have the most robust scoring system in the world with the most financial data and reporting requirements.

Is It Worth Paying Yearly Fees for a Credit Card?
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By Adem Selita

Is It Worth Paying Yearly Fees for a Credit Card?

People all value things differently. For one consumer, a certain product may be priceless but for another consumer that same product could be as valuable as a paper weight. We all have our own value systems and for many those value systems define what and how we spend our money. If you don’t value something, you just simply won’t spend money on it.

How to Dispute a Credit Card Charge
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By Adem Selita

How to Dispute a Credit Card Charge

The ability to dispute a credit card charge — and have the card issuer investigate and potentially reverse it — is one of the most valuable protections that comes with using a credit card over cash or debit. It's a formal process with real legal backing, and it works when used correctly. But it also has limits and a specific process you need to follow to protect your rights.

What is Debt Consolidation?
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By Adem Selita

What is Debt Consolidation?

Debt consolidation means combining multiple debts into a single payment, usually at a lower interest rate. That's it. You're not paying less money overall — you're restructuring what you already owe so it's easier to manage. It's a good tool for the right situation.

What Is an Interest Rate? APR vs Interest Rate Explained
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By Adem Selita

What Is an Interest Rate? APR vs Interest Rate Explaine...

An interest is the amount of money/profit that will be returned to a lender based on the amount of principal lent out. This rate is calculated as a percentage and applies to the original principal amount.

5 Credit Card Myths to Avoid
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By Adem Selita

5 Credit Card Myths to Avoid

Credit cards generate a remarkable amount of misinformation. Some myths are harmless — they just lead to suboptimal choices. Others actively cost people money, damage credit scores, or lead to debt that compounds for years.

What is an Unsecured Loan?
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By Adem Selita

What is an Unsecured Loan?

An unsecured loan has no collateral attached. The lender extends credit based entirely on your creditworthiness — your credit score, income, debt-to-income ratio, and payment history. If you default, the lender cannot automatically seize an asset.

What is a Secured Credit Card?
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By Adem Selita

What is a Secured Credit Card?

A secured credit card is one of the most commonly recommended tools for rebuilding credit — and one of the most misunderstood. People often assume it works like a prepaid card or debit card, where you load money and spend it. That's not how it works.

Should You Have an Investment Portfolio If You Are in Credit Card Debt?
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By Adem Selita

Should You Have an Investment Portfolio If You Are in C...

If you are in credit card debt you might want to consider decreasing some of your investment portfolio. If this is the case you can consider selling some assets in order to save money on interest payments

Credit Builder Loans: How They Work and Who They're Actually For
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By Adem Selita

Credit Builder Loans: How They Work and Who They're Act...

A credit builder loan is a small loan — typically $300 to $1,000 — that's specifically designed to help you build or rebuild your credit history. Unlike a traditional loan where you receive the money upfront and pay it back over time, a credit builder loan works in reverse: the lender holds the loan amount in a savings account while you make monthly payments.