‘Debt Handling’
How To Handle Debt
The first step to handling any problem, and excessive debt is no exception, is to focus on facts. Here, that means finding out how much you actually owe and what the monthly payments and interest costs.
What’s the Right Amount of Debt?
No ‘one-size-fits-all’ recommendation is possible when considering the right amount of debt to assume. But that doesn’t mean there are no good guidelines at all.
The Snowball Method of Debt Reduction
There are multiple ways to reduce your total (and monthly) debt load, some less painful than others.
What To Consider Before Filing Bankruptcy
Some people think of bankruptcy as an easy way to offload a crushing debt burden, and it’s sometimes the first method they reach for.
Consider Tax Implications In Your Debt Calculations
When analyzing financing options or debt handling issues many people neglect to include the tax implications of one strategy over another.
Credit Reports and What They Mean To You
Credit reports are often regarded with dread, especially by those who have entered turbulent financial waters.
Developing A Budget Can Increase Income
It might seem that developing a budget should be an elementary task.
Pros and Cons of Home Equity Loans
Obtaining a home equity loan is a common method of refinancing debt and it has several advantages.
Is Mortgage Refinance Right For You?
There are several interlocking reasons to consider refinancing your mortgage.
Secured vs Unsecured Loans
Both lender and borrower are faced at the outset with a basic decision – to obtain a loan that is either secured or unsecured.
Student Loans
Few areas of credit are as complicated today as that of student loans.
Car Loans
If you’re considering buying a car, or even just refinancing your current auto loan, you’ll benefit from some simple research before making a final decision.
Low Interest Credit Cards
Credit cards are neither your salvation nor a destroyer. They are a tool, and how you use that tool is up to you.
FICO, What is That?
One very important element in your overall credit worthiness package is your FICO score. But what exactly is that and how does it affect your debt management choices?
IRA – Individual Retirement Accounts
Debt is closely tied to savings – the more you do the first, the less you have left over for the latter.
Inflation and Interest Rates
Inflation makes tomorrow’s dollars worth less than today’s. That makes borrowing more attractive to borrowers, but lending less attractive to lenders.
IVA – Individual Voluntary Agreements
In the UK there’s a formal name, IVA, for the agreement between a debtor and a creditor to alter debt terms.
Pros and Cons of Debt Consolidation
Many people find that over time they have accumulated more debt than they can repay. When that happens, there is a reinforcing downward spiral.
Debt Counselors: Do You Need One?
Those who get themselves into financially turbulent waters will sometimes seek a life preserver wherever they can. Sometimes, they reach out to a debt counselor. That can definitely be a wise move.
How To Deal With Debt Collectors
Debt collectors ringing your phone off the hook and sending intimidating letters can frazzle anyone’s nerves.