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Marketplace Money for Friday, May 17, 2013
May 17, 2013

Marketplace Money for Friday, May 17, 2013

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Debt. Don't let it ruin your life. Even if you feel like you're swimming in student loans or can't get ahead of what you owe to credit card companies, we've got some advice on what to do when you've got a mountain of debt.  One tip: as much as you'd like to, don't hang up when a bill collector calls.  And don't take your personal relationships for granted when money enters the mix. Debt doesn't have to destroy your ties with friends or family. Plus, a special report on why struggling military families opt to do business with risky payday lenders over low-interest government loans.

Segments From this episode

Six things one listener did to ditch $20,000 in debt

May 6, 2013
Ten years ago, Marketplace Money listener Greg McKenna was over $20K in debt. Today, he's debt free and has a nest egg worth over $100,000. Here's how he did it.

Why military personnel fall prey to payday lenders

May 17, 2013
The government provides countless resources to help military families with financial literacy and even offers low interest loans to help them in times of emergency. So, why are many troops opting to take out risky payday loans instead?

What's behind the uptick in consumer spending?

May 17, 2013
Retail sales rose a tenth of a percent in April. Why are people spending more and are they going back into credit card debit over these purchases?
Joseph Klein of Sayville, N.Y., is assisted by Lowe's employee Ormani Rivera after his purchase of a generator in Hicksville, N.Y.
Bruce Bennett/Getty Images

Money & relationships: When you can't just hug it out

May 17, 2013
Does debt have to destroy family ties and friendships? Personal finance expert Liz Weston weighs in on whether its a good idea to mix personal finance with personal relationships.

When borrowing to pay for college, remember the Pilgrims

May 17, 2013
Paying off student loans can be a long and scary venture. But one way to get a handle on how to make it an affordable experience is to take a tip from the Pilgrims.

Playlist: A soundtrack for digging yourself out of debt

May 17, 2013
From "The Payback" by James Brown to The Smiths' "I Don't Owe You Anything" to "Bills, Bills, Bills" by Destiny's Child, we've compiled a playlist of tunes all about borrowing and lending.

How bad is student loan debt in your state? (map)

May 17, 2013
The Federal Reserve Bank of New York says the country now owes close to $1 trillion in student loan debts. But in some states, the problem is worse than others.

7 tips on what to do if you're being harassed by a debt collector

May 17, 2013
What can you do if a debt collector is after you? Take some advice from someone in the industry and know your consumer rights.

How to survive severe student loan debt

May 17, 2013
The new face of debt is young and worried. Student loans affect nearly 15 million Americans under the age of 30 and many debtors are facing tens of thousands of dollars in repayment.

Debt. Don’t let it ruin your life. Even if you feel like you’re swimming in student loans or can’t get ahead of what you owe to credit card companies, we’ve got some advice on what to do when you’ve got a mountain of debt.  One tip: as much as you’d like to, don’t hang up when a bill collector calls.  And don’t take your personal relationships for granted when money enters the mix. Debt doesn’t have to destroy your ties with friends or family. Plus, a special report on why struggling military families opt to do business with risky payday lenders over low-interest government loans.