Believe it or not, many people do not understand equity and the power it provides. In its purest form, equity is money. With regard to real estate (specifically, your house or other investment property), equity is measured in terms of the value of the property minus what you owe. So, if your home is valued at $100,000, and you owe $40,000 on it, you have $60,000 in equity (actual money that is available to you, under particular circumstances).

Debt counselors can help you create a plan for repaying your debt, but can they really help you get out of debt faster? Find out how they work and whether they'll be able to help you get out of debt.

Remember your first love letter? Bet you didn't know writing a similar gushy letter to the Credit Report Agencies can get amazing results.