debt reduction

Credit Card Debt Payoff: How She Shed $32,000 in 22 Months

In 2008, when the foreclosure crisis was raging, Simone Griffin spent her days counseling homeowners behind on their mortgage payments, and her nights worrying about the precarious state of her own finances: $32,000 in debt on two credit cards. Then came her "scared straight" moment.

This Family Needs a Post-Unemployment Debt Reduction Plan

After a long spell in which one or both spouses were unemployed, a couple with three kids finds themselves $50,000 in debt. Now, with wife and husband back at work, they're aiming to get all their financial pins in a row and bowl a strike. DailyFinance's Laura Rowley offers a strategy for success.

Waiting to Inherit: Not a Sound 'Financial Plan'

An estimated two-thirds of baby boomer households will receive an inheritance at some point, with a median amount of $64,000, according to an AARP study. I recently received an email from a reader who has fallen deeply into debt in anticipation of her legacy -- and is now worried that her bailout may not be at hand:

Meet the 12 People Who Have to Fix the U.S. Budget

There has been a pleasant lull in reporting about the debt ceiling and budget debate, but don't let the quiet fool you. Right now, 11 men and one woman are crafting a plan to reduce the federal budget deficit by $1.5 trillion over 10 years. They are the members of the Joint Select Committee on Deficit Reduction -- aka, the Deficit Supercommittee

Borders Sells Stationery Arm Paperchase to UK Private Equity Firm

Beleaguered book retailer Borders (BGP) needs every drop of capital it can get in order to stay competitive with the likes of Barnes & Noble (BKS) and Amazon (AMZN). One way it's doing so is through a startling, but not surprising development: selling its London-based Paperchase stationery, cards and gift unit for $31 million to Primary Capital, a UK-based private equity firm, in a bid to reduce its debt.