TwinkaTee asked: I need some motivation people! I want to commit to reducing my credit card debt this year; but, it seems a bit overwhelming. Please share stories of how you reduced your debt. Maybe that can psych me up to keep sacrificing and paying off these debts. Thanks!

cdp224 asked: I would like to apply for a home loan, but I have some credit card debt. I have good credit – never missed a payment, never been late, etc. I just don’t know if having credit card debt will cause me to be declined.

wittygee asked: I have been out of work for a while and became unable to pay on a credit card debt. It has been about 90 days since my last payment and I just got a letter from a law firm stating they will be pursuing collecting the debt. I am still out of work [...]

mstatl asked: I have a debt with a bank that went into default and is now with a collection agency. I’ve been told that the debt is continuing to accrue interest. Is this possible?

George B asked: What happens when someone pays his debt in a fractional-reserve banking system? Is only his past debt subtracted from the reserve or also all subsequent debts that was loaned to other people with his initial debt? For instance, a person A borrows 100$ then it becomes part of the reserve, then a [...]

interdependent globalized world asked: How does the debt system work, what happens when the other countries buy our debt, can they sell our debt to other countries, can they force us to pay our debts at any given time, please explain how the national debt system works? Thanks, I need lots of details and really [...]

_ asked: My husband has run almost £2000 overdraft and he says its not debt just an overdraft, nothing to worry about. I am worried sick and I still see it as debt! He had just finished paying a massive debt last year which took him over 10 years to pay off. Now he’s started [...]

Gladski asked: I heard from a friend that if a car payment (or any debt for that matter) is below a certain amount of payments left, it is not considered a debt (for your debt/income ratio) when qualifying for a mortgage. Is this true? How many months left until it is not considered? Thank you!

mixed & beautiful asked: I owe about 2 grand of debt to different debt collectors. I work and attend college like most young adults my age, but does not make a lot of money every 2 weeks. I really want to get rid of my debt but does not know the best way how. What [...]

greatelderone asked: I know the US external debt is around 12 trillion, but what is the composition of the said debt? Treasury securities? What? And second, does anyone have figures for who owns this outstanding debt? I have heard for example that China owns anything from 400 Billion to over 1 trillion. Does anyone have [...]