Freedom from debt may feel like a distant dream, but experts say with the right strategies, you can accelerate your payments and pay off your balances faster.

More and more Americans are finding themselves stuck dealing with collection debt. According to a recent study from TransUnion, more than half of all debt collectors saw their number of accounts ...

When deciding which debt to pay off first, consider its type, interest rate, outstanding balance and impact on your credit score. Some strategies to pay off debt include the “highest interest ...

It’s best to avoid tapping into your emergency savings to pay off debt, as you could wind up accumulating more debt when an emergency arises. Use this savings calculator to find out how much you ...

To pay off debt fast, you need to exceed your minimum payments every month. Target the debt with the highest interest rate, also known as the "avalanche method." Lower your interest rate by ...

Using a personal loan to pay off credit card debt could be a smart move if you can secure a lower rate or are juggling multiple credit card payments Paying off credit card debt with a personal ...

According to some self-employment data from Intuit QuickBooks, around 72% of those with a side hustle use their earnings to pay off debts. It’s an incredibly responsible way to make good use of ...

With this in mind, let’s explore if you should use a 401(k) loan to pay off debt — including when it might make sense (and when it doesn’t). A 401(k) loan isn’t a "hardship" provision ...

If you’ve found yourself with a mountain of less desirable debt you’d like to pay off as soon as possible, here are seven steps financial experts recommend you take. 1. Tally Up Your Debts ...

However, if you have high-interest debt, it may be better to pay that off first. If you have low-interest debt, you may want to save first for an emergency fund to cover unexpected expenses.