Category Archives: Debt Consolidation
Strategy Is The Key To Getting The Desired Results From Debt Consolidation Loans
If you try to explain to a classroom full of middle school students what debt consolidation loans are, they will probably tell you that taking out a debt consolidation loan is a terrible idea. Why would you borrow more money if you are already in debt? If you are a working adult, however, balancing… Read More »
Debt Consolidation Loans Can Make Your Predatory Loan Debt Disappear
When you are living paycheck to paycheck and struggling to keep up with the monthly minimum payments on your debts, it is easy not to think too much about the details. If you have to pay $200 per month to keep from falling behind on payments on a debt, then you simply pay the… Read More »
Credit Card Debt: Is It Time For An Intervention?
Credit card debt is one of the main manifestations of financial insecurity; medical debt, student loans, and buy now pay later obligations are other common sources of financial insecurity. The majority of adults in almost every U.S. state carry a credit card balance from one month to the next; Florida ranks somewhere in the… Read More »
FTC Orders Operators of Credit Card Reduction Scam To Pay Millions And Get Out Of Debt Relief Business
Sometimes taking on a new debt to pay off your existing debt can be a wise move. If the new loan has a lower interest rate than the debts you are using the loan money to pay off, then you will have a higher debt to credit ratio in the short term, but in… Read More »
Beware Of Loans With Interest Rates Higher Than 100 Percent
Several weeks ago, Jelena McWilliams ended her tenure as chairperson of the Federal Deposit Insurance Corporation (FDIC); President Biden will appoint a new chairperson soon. The change in FDIC leadership could mean a change in its policies on consumer lending. Consumer advocates and struggling borrowers hope that the new FDIC leader will close some… Read More »
Is Opening A New Credit Card The Solution To Your Credit Card Debt Problems?
Credit cards can make your financial situation worse, but if you use them strategically, they can also make your financial situation better. For example, opening a credit card, but only using it to make small purchases can increase your credit to debt ratio, thereby improving your credit score, especially if you pay off your… Read More »
Is The Snowball Method An Appropriate Debt Repayment Strategy For You?
Another year, another set of good intentions about paying off your debts. You have been doing this for as long as you have been old enough to make New Year’s Resolutions more ambitious than to quit biting your fingernails or to confess your feelings to your crush before graduation. Will 2022 be any different? … Read More »
Is It Ever A Good Idea To Take Out A Personal Loan?
You know you are an adult when you dread the sight of the mail truck. When you are a child, postal mail addressed to you is a cause for literal celebration; almost every piece of mail you receive is a holiday greeting card or a party invitation. When you are an adult, however, your… Read More »
Debt Consolidation Can Help Your Financial Situation, But Only If You Do Your Research
If you struggle with debt, as most of us do, you probably get lots of notices in the mail from banks offering you personal loans with which to consolidate your debt. On fact, they may even make it sound like consolidating your debt is a universal solution to everyone’s debt problems. If that were… Read More »