Living under the burden of debts is not exactly the life any individual wishes for. Day in and day out you have to toil hard and meet your ends as well as get out of debt. This kind of life can invite severe repercussions financially, physically as well as psychologically. So it is imperative that you might consider a credit counseling firm. In this article, we shall be illustrating the basic definition and purpose of credit counseling as well as put light on the process itself.
Yes it is possible to be debt-free. Let us help you see the light at the end of the tunnel. Also be sure to check out our complete guide to getting out of debt.
Are you tired of paying rent and listening to the demands of a stubborn landlord? How about buying your own house?
Living in their own house is what most people look forward to from an early age. However, buying a place with only your savings may not be the safest bet. You could end up with too little money to finance your other requirements.
That’s where home loans can rescue you. You can borrow the required amount from a financial institution and pay it off in EMIs over a fixed tenure.
Before applying home loan it is important to look at the eligibility criteria in order to know if you qualify for a loan. Here is a list of the most significant factors that banks take into consideration when giving out home loans.
Being rejected when you apply for a loan or other form of credit can be dispiriting experience. You may be asking yourself what you did wrong, what is suggesting that you are a credit risk or if there has been a mistake.
It’s worth remembering if you are in this situation that you are not automatically entitled to credit. Banks and other lenders only lend to people that they think represent a low risk on what is an investment on their part and are unlikely to accept applications for people they think are unlikely to repay the money they want to borrow. It’s a balancing act – they want to protect their money while, at the same time, increasing the profits they make from the interest charged on the loans that they do make.
You’ve heard both extremes: “debt is a tool” and “debt is pure evil”.
I’m not that extreme, but I do lean towards the second option.
It’s often believed that debt can be used as leverage, and that it can get you where you want to go faster than living debt-free. That can be true, but living with debt can also get you bankrupt faster than living without debt.
Yes, all reward has risk, but this one may not be worth it.
Let me clarify. Here’s why I think debt is a bad idea and how it’s possible to live without debt…
Any type of business, irrespective of their credit scores, can get merchant cash advances through various companies. Small business loans are loans that are provided by banks and other lenders, and guaranteed by the Small Business Administration (SBA). Since there’s a government guarantee in the event of default, banks and other lenders often give out such loans that they wouldn’t have otherwise given.
The mirth and merriment of Christmas are very much upon us, with the big day now getting very close. It’s a time of laughter, fun and special times with friends and family – just as it should be. Yet with the unrelenting social activities that come with it, costs of buying presents and other wallet drainers, there is no doubt that the holidays can put a strain on anyone’s budget, and maxed-out credit cards are hardly unusual by the time January dawns.
But instead of using the festive season as an excuse to exacerbate your existing high-interest debt, why not see it as the time to take action, and eliminate it instead? The path to becoming debt-free isn’t as arduous as it may seem, and with a combination of self-discipline and some clever strategic thinking, you can start getting yourself very much on track.
Do you think that financial experts can always manage their credit cards smartly? If so, then you’re dead wrong.
Here’s my story to clear your misconception.
There was a time when I didn’t manage my credit cards and finances carefully. To make the matter worse, I got a job after completing my studies. It gave me an opportunity to spend even more and incur debt. Now, when I look back, I realize that I wouldn’t have incurred debt if there was no job.
Financial experts advise that an individual have enough money to pay for several months worth of expenses if a financial emergency strikes.
In addition, it may be worthwhile to have a credit card or other funding source handy if such a situation occurs.
This is because an unexpected expense can occur at any time whether you are ready for it or not.
See what the most common emergencies are and protect yourself from them…