12 Debt Myths That Trip Up Consumers

From the Wall Street Journal:

Avoid debt if you can.

If you can't, borrow carefully and conservatively.

So the conventional wisdom goes. But if you follow it blindly, you may miss out on key nuances of dealing with debt.

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Myth #4 (Dutifully paying off your mortgage each month will do wonders for your credit score) surprises some people.  Negative information has a greater relative impact than positive information when it comes to your score.