Debt Relief Blog — Page 6

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

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How to Fight Off Holiday Related Debt
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By Adem Selita

How to Fight Off Holiday Related Debt

Holiday debt is one of the most predictable forms of consumer debt — and therefore one of the most preventable. Unlike an unexpected medical bill or a car repair, holiday spending happens on the same schedule every year. The pressure, the timing, and the spending patterns are all knowable in advance. That predictability should work in your favor.

Pros and Cons of Buy Now Pay Later Services
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By Adem Selita

Pros and Cons of Buy Now Pay Later Services

What most don’t realize is that missed payments from services like BNPL will most certainly affect your credit and these services are not very different from a standard line of credit from a credit card company.

Generation Z Credit Card Usage
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By Adem Selita

Generation Z Credit Card Usage

There are many ways to build credit as a college student and young adult, making timely payments is just one piece of that puzzle. As you continue to use credit and make timely payments you will naturally build credit overtime.

Personal Loan Myths Debunked
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By Adem Selita

Personal Loan Myths Debunked

Personal loans occupy an interesting position in personal finance: they're genuinely useful in some situations and genuinely harmful in others, and the myths around them pull in both directions. Some myths make people avoid personal loans when they'd be helpful. Others make people pursue them when they're not the right tool.

Slashing Debt During a Recession
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By Adem Selita

Slashing Debt During a Recession

Recessions are when debt becomes most dangerous — and, counterintuitively, when creditors are most willing to negotiate. When the economy contracts, job losses spike, income drops, and people who were managing their debt month-to-month suddenly aren't.

Factors to Consider When Thinking About a Debt Consolidation Loan
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By Adem Selita

Factors to Consider When Thinking About a Debt Consolid...

The most important consideration to look into regarding a debt consolidation loan is whether it fits into your budget. It’s also very important to consider whether the consolidation loan will consolidate all the debts you want it to. If you are only able to consolidate half of your debt, this may not be the best financial move for you make.

Debt Collectors and Debt Collection Practices
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By Adem Selita

Debt Collectors and Debt Collection Practices

Understanding how debt collection actually works — who these companies are, what they're legally allowed to do, and where the leverage actually sits — changes the dynamic entirely. The person on the other end of that call isn't holding all the cards. They just want you to think they are.

Should You Apply for a Personal Loan?
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By Adem Selita

Should You Apply for a Personal Loan?

There are numerous reasons you might apply for a personal loan. For many consumers the options are typically limitless but you shouldn’t be applying for a loan for funding that you simply do not need. Make sure you absolutely need the loan you are applying for since loans are not revolving lines of a credit and you don’t want to end up paying interest on cash you never really needed to borrow in the first place.

Refinancing Personal Loans: When It Makes Sense and How to Do It
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By Adem Selita

Refinancing Personal Loans: When It Makes Sense and How...

Refinancing a personal loan means taking out a new loan to pay off the existing one. The new loan ideally has a lower interest rate, a lower monthly payment, a shorter payoff term, or some combination of the above.

Why Credit Scoring Algorithms Perpetuate Ethnic Bias
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By Adem Selita

Why Credit Scoring Algorithms Perpetuate Ethnic Bias

Credit scoring models do not include race, ethnicity, or national origin as variables. That is a legal requirement under the Equal Credit Opportunity Act (ECOA). But the absence of race as an explicit input does not mean the outputs are racially neutral.

How to Grow and Scale Your Business
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By Adem Selita

How to Grow and Scale Your Business

As a business owner or entrepreneur, your main focus should always be to become the best possible coach to your team. You need to evaluate the strengths and weaknesses of your team and after doing so properly designate work functions based on their strengths.

Using Your 401(k) to Pay Off Debt: What You Need to Know
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By Adem Selita

Using Your 401(k) to Pay Off Debt: What You Need to Kno...

When credit card debt becomes overwhelming, the temptation to raid retirement savings feels rational: you have money sitting there, the debt is costing you 22–27% annually, and wiping the balance clean would be an immediate relief. Why not use what you have? But the answer is more complicated than it looks...

What is the Bank Overdraft Fee Scenario Right Now?
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By Adem Selita

What is the Bank Overdraft Fee Scenario Right Now?

On December 12th of 2024 the CFPB acted to close an overdraft loophole. The ruling was supposed to save consumers approximately $5 Billion in annual overdraft fees or $225 per household. Overall a great move by the CFPB since overdraft fees predominantly impact lower income households, to whom that $225 is much more valuable. Unfortunately, the house of representatives recently struck down the $5 cap so overdraft fees might be here to stay for a little while longer.

Paying for Credit Repair vs. Do It Yourself (DIY)
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By Adem Selita

Paying for Credit Repair vs. Do It Yourself (DIY)

As a broad-based approach to credit, good credit habits will win over the long term as opposed to short term gimmicks. If you don’t plan on utilizing your credit in the short term, credit repair may not be the best way to spend your money right now. Don’t do credit repair just to do credit repair.

3 Myths of Starting an Online Business
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By Adem Selita

3 Myths of Starting an Online Business

It really helps to plan ahead as much as possible. There is no harm in playing everything by ear and learning as you go, but it definitely helps to have an idea in place and plan around its execution to the best of your abilities.

Dealing with Unpaid Medical Debts
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By Adem Selita

Dealing with Unpaid Medical Debts

Medical debt should be paid after higher priority accounts like mortgages, auto loans, credit card debts, etc. You should also try to avoid paying medical debt by incurring other kinds of debt. Many medical debts can go unpaid for a long period of time without any significant adverse consequences to credit worthiness.

Why you Should Ditch the Credit Card Debt and Start Investing
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By Adem Selita

Why you Should Ditch the Credit Card Debt and Start Inv...

When you save and invest you should also do so with the future in mind. The sooner you ditch the credit card debt the better off you’ll be. You’ll go from being a capital return to generating a capital return.

Commonly Asked Credit Limit Questions
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By Adem Selita

Commonly Asked Credit Limit Questions

Your credit limit is one of the most influential numbers in your financial life — and one of the least understood. It affects your credit score through utilization, it shapes how lenders see you, and it's often the number people think is fixed when it actually isn't.

What is Pay for Delete?
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By Adem Selita

What is Pay for Delete?

Pay for delete is the process by which you offer to pay a collection account or old debt in full (or for a negotiated amount) in exchange for the creditor or collector agreeing to remove the negative entry from your credit report entirely.

7 Steps to Make Your Business Less Likely to Fail
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By Adem Selita

7 Steps to Make Your Business Less Likely to Fail

Fear or shame of failure could cripple you as an entrepreneur. While failure is possible and not shameful, you can still take these steps for your due diligence in starting a business.

Are Debt Relief Companies a Good Option?
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By Adem Selita

Are Debt Relief Companies a Good Option?

For many consumers, debt relief companies help them relieve their debt burden and save money off the principal balance and that is a tremendous help to their life. However, just because you qualify for a particular option or have an option available to you, does not mean that it’s the best thing for your particular situation.

How to Negotiate a Credit Card Interest Rate
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By Adem Selita

How to Negotiate a Credit Card Interest Rate

The average credit card interest rate is constantly fluctuating but in comparison to other financial products, interest rates on credit cards are usually the highest. So, there’s plenty meat on the bone and plenty of savings to be had if you can effectively lower your interest rate.

Helping Consumers with Credit Card Debt
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By Adem Selita

Helping Consumers with Credit Card Debt

Once you get trapped in a significant amount of credit card debt ($10,000+) it can become very hard to climb out of. Moreover, the average interest rate on a typical credit card can range anywhere from 22-25% in today’s credit landscape. Due to these high interest rates it has become difficult for American consumers to make progress on their debt obligations.

Starting a New Business
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By Adem Selita

Starting a New Business

Preparation and planning should be a tremendous part of any business venture before the actually business entity is formed. However, before preparation and planning you’ll need to create your “Why”. Forming “The Why” of any given business before its formation is quite possibly the most important thing any budding entrepreneur should do.

How to Find the Best Debt Relief Company — What to Look For and What to Avoid
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By Adem Selita

How to Find the Best Debt Relief Company — What to Look...

The Debt Relief Company telling you exactly what to look for, what to avoid, and how to evaluate any debt relief company — including ours — so that you can make an informed decision based on facts rather than marketing.

Why APRs, Interest Rates and Origination Fees are Important
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By Adem Selita

Why APRs, Interest Rates and Origination Fees are Impor...

When you borrow money — whether it's a credit card, a personal loan, or a debt consolidation loan — the number that determines what you actually pay isn't always the one in the largest font. Lenders advertise rates in ways that can make borrowing look cheaper than it is.

Looking Back at Credit During the Pandemic and Credit Now
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By Adem Selita

Looking Back at Credit During the Pandemic and Credit N...

The pandemic fundamentally changed the American consumer's relationship with credit — and at The Debt Relief Company, we have watched the consequences unfold in real time. What happened between 2020 and 2026 is not a simple story of "people went into debt during COVID." It is a more complex cycle.

Building Credit as a College Student
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By Adem Selita

Building Credit as a College Student

The goal in college is not to use credit — it is to build a credit history. There is a critical difference. Building credit means establishing a track record of responsible borrowing behavior that benefits you when you actually need it: for an apartment lease, a car loan, or eventually a mortgage. Using credit to fund a lifestyle your income does not support is how students end up graduating with credit card debt on top of student loans.

Different Types of Bank Accounts and How to Utilize Each
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By Adem Selita

Different Types of Bank Accounts and How to Utilize Eac...

Banking is big business and it helps knowing which accounts serve your purpose. Like anything else you don’t want to go overboard with how many different accounts you have open. Understanding the purpose of each account can help you fewer accounts and make your financial situation somewhat simpler if only by a little bit.

How to Improve and Maintain Positive Work Culture
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By Adem Selita

How to Improve and Maintain Positive Work Culture

Employee morale is important to both companies and employees because it increases productivity, allows for a creative and collaborative work environment and not maintaining morale can causes company productivity to crumble. The potential impact of a negative work culture can be extremely detrimental to maintaining a functioning and productive work environment.