Tag Archives: debt

Debt Settlement – Why You Should Think Twice Before Enrolling

Posted on March 22, 2013 by
18

The following is a guest post. If interested in submitting a guest post, please read my guest posting policy and then contact me.

It is no secret that the recent financial recession has left tons of people considering different credit card debt help ideas. The reality is, throughout the recession, many American families were forced to use their credit cards in situations that they generally wouldn’t. This has lead to amounting credit card debt in the United States. As things start to get better in the economic climate, more and more consumers are starting to look for aggressive ways to get out of credit card debt! One of the most sought after ways to get out of debt lately has been credit card debt settlement.

Credit card debt settlement is a process that allows consumers to pay a settled amount of money to completely wipe out their debts altogether. Generally, in these programs, consumers are able to pay anywhere from 35% to 55% of what they owe as a total payment which, sounds great! But, before making a decision, you need to know exactly how debt settlement works and how it will affect you in the long run. Knowing how this all works will probably make you think twice about this option. Continue reading →

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How The Trillion Dollar Student Loan Crisis Will Affect Everyone

Posted on March 15, 2013 by
26
Student Loan Crisis
Photo: noahwesley

The following is a guest post. If interested in submitting a guest post, please read my guest posting policy and then contact me.

The Trillion Dollar Student Loan Crisis continues to grow, causing political and personal strife across the country.

The student debt crisis passed a major milestone reaching 1 trillion dollars in 2012 according to the WSJ and New York Federal Reserve.

But what does 1 trillion dollars in student debt mean for you? Is it a new sub-prime equivalent bubble or is it just a reflection of the need for people to be more educated in today’s economy?

Student Debt Doesn’t Just Affect Students

By most estimates, 1 in 5 American households are now living with student debt. The Chronicle of Higher Education puts the percentage of new students who attend college at approximately 20 million per year, and of those about 12 million take out student loans of some sort to help cover the cost. Continue reading →

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Why Paying Off Student Loans Should be a Priority

Posted on March 7, 2013 by
36
Paying Off Student Loans
Photo: DonkeyHotey

The following is a guest post from Ryan at Your Life for Less. If interested in submitting a guest post, please read my
guest posting policy and then contact me.

If you’re a recent college grad, if you obtained an MBA or an undergraduate degree, chances are you have student loans. Two-thirds do. For those who did borrow, the most recent estimate of the bill is $26,500 per borrower.

This amount often includes a mix of private and federal loans. As you may have heard, private student loans are a time bomb for your finances. Paying for college using private loans is like paying with a credit card. But that doesn’t stop 33% of people in bachelor’s degree programs from taking out private loans at an average of $12,550 each.

Why people take on so much debt to pay for college is beyond me. It’s so bad that some are forced to put off dreams like having kids or buying a house. But here we are, and it must be dealt with responsibly to limit the damage. Continue reading →

Top Guidelines When Selling a House to Pay Off Debt

Posted on February 11, 2013 by
27

The following is a guest post. If interested in submitting a guest post, please read my
guest posting policy and then contact me.

These past five years have represented some of the most difficult economic times since the Great Depression. Millions of individuals now find themselves without work or unable to secure much-needed loans. For some, even daily survival has become a financial challenge and the economy does not seem to have rounded the corner as of yet. These days are defined more by pragmatism than by realism. One method that some choose to employ to pay off debt is to either re-mortgage or to sell their property. Let us have a brief examination at some of the benefits of each option.

One of the main advantages of re-mortgaging a property is the ability to secure additional capital to help combat any financial woes. This extra liquidity can be used for a range of options, from paying off an outstanding credit card bill to purchasing a new vehicle. Additionally, a re-mortgage gives an opportunity to consolidate existing debts into one low monthly payment which is often more manageable than many disparate loans remaining unpaid. Finally, by examining different providers the homeowner is frequently able to secure a much lower interest rate. This has substantial benefits when payments are due and will aid in putting more capital back into the owner’s pocket rather than towards a payment.

Continue reading →

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What Happens To Debt When You Die?

Posted on November 5, 2012 by
28
What Happens To Debt When You Die
Photo: Kecko

The following is a guest post. If interested in submitting a guest post, please read my
guest posting policy and then contact me.

One of the biggest misconceptions out there at the moment is that debts are written off if/when they die.

You might think that debts are no longer your concern if the worst happens to you, and you’d be right to an extent, but the financial situation you leave behind can have a serious impact on your family.

This is because creditors (the people or companies you owe money to) reserve the right to make a claim against your estate for any debts owed at the time of your death.

For someone who has no dependents and no assets (such as money or property) they’ll be nothing for the creditors to take from. Continue reading →