Even in the days of the tightest credit in 2008, HELOCs [ home equity line of credit ] and home equity loans were being made.

If you have even a smidgen of doubt that you'll be able to stay away from racking up additional debt, don't do it.

In fact, the bigger the bill, the less likely you are to spend it. If you want to really save money, spend only cash and carry only fifty-dollar bills.

It's not about having it all. It's about having what you value most.

If you default on an unsecured debt, you won't lose anything (except points on your credit score).

By definition, saving - for anything - requires us to not get things now so that we can get bigger ones later.

After explaining why you're in trouble, ask the creditor if the company would be willing to accept a smaller amount. Start negotiations at about 30% of the total amount due, with the end goal of paying 50%.