Topic 7: Debt Repayment

IDA Education Packet: Debt Repayment. Specifically designed for Oregon IDA Savers! Use this IDA Education Series Self-Directed Curriculum to learn about understanding your debt, paying down your debts, and planning for the future.

Debt log (pdf) (CFPB): Worksheet: list details regarding a participant’s current debt with details about the loan. (Debt management, Repayment, Loan, Credit)

Debt action plan (pdf) (CFPB): Tool: Describes 2 methods of paying down debt and describes the advantages and disadvantages to each method. Includes a worksheet to help the participant decide which method is preferred and to keep track of the payments made against the debt. (Reducing Debt, High Interest Rate Method, Snowball Method)

Mortgage refinancing calculator and a student loan refinancing calculator. (website) (NerdWallet) Use this tool to see if refinancing makes financial sense, plug your numbers into a refinancing calculator. (Education, Home refinance, debt, interest rate, loan)

Debt-to-Income Calculator  (PDF) (CFPB): A fillable PDF worksheet that defines the calculation of debt-to-income ratio, why it’s helpful to know your DTI and how to use it as a benchmark tool. (Debt-to-income, DTI Calculation)

Bankruptcy Basics (US Courts.gov) (Web site and video) provides general information about federal bankruptcy laws and the bankruptcy process. It is not a guide for filing for bankruptcy.

Student Loan Borrower Assistance (Website) (National Consumer Law Center) Visit this site for more information about student debt, managing repayment, challenging collections, cancelling student loans, and bankruptcy.

Managing your debt (website) (Oregon DCBS) Debt management companies and credit counselors can help you reduce or manage your debt, including in creating a spending plan. But all debt management service companies providing these services must be registered in Oregon. Disreputable companies and individuals use telemarketing, direct-mail, and advertising that include promises to help you with your debt. Be careful and look for red flags.

Debt Collection FAQs: A Guide for Consumers  (PDF) (FTC) Understand your rights regarding the Fair Debt Collection Practices Act (FDCPA), which prohibits debt collectors from using abusive, unfair, or deceptive
practices to collect from you.

Repaying Student Loans (pdf) (CFPB): Tool: Evaluate different repayment plans for your student loans to find one that best fits your needs, making it easier to repay. (Education, Dealing with debt, Income based / driven repayment, pay as you earn (PAYE), Revised pay as your earn (REPAYE), federal, private).

Avoiding Medical Debt (pdf) (CFPB): Handout: whether you’re about to receive a medical procedure or are having trouble paying your medical bills, there are things you can do to help keep medical debt in check (dealing with debt).

Link to Radio segments on taking care of debt (NAYA, Cecelia Lente)

This includes a variety of 2-4 minute radio segments about taking care of debt, from KWSO 91.9FM. (Debt, Credit, Loans)