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.
There are around 1,000,000 bankruptcies every year in the US.
Obviously, it’s a problem. A problem that can be avoided, but if you’re past the avoiding stage, it may be your best option.
Let’s dive in and discuss the different types of bankruptcy, when to file, when not to file, and the effects of filing.
Americans are in a lot of debt.
Between credit card debt, the rise of student loans, and the ever-in-flux real estate market, it’s harder and harder for people to live without some form of debt.
Exact figures are hard to come by, as credit card debt, also known as “revolving” debt and consumer debt, is measured separately from debt like student loans and mortgages.
That makes sense, as they are very different, but that separation often disappears when financial advice is given.
So you’ve decided that a life of debt isn’t for you.
Congratulations! Good choice. Welcome to the club.
You know the first step to seeing big results is to sell your expensive vehicle, but there’s one problem.
You’re upside down. Way upside down. And it looks like you may not get flipped back over.
Don’t panic! You have some options, and you can still make this work. Here’s how.
If you have recently had an application for credit turned down you might be feeling a sense of hopelessness. Being rejected for credit can be a major blow if you were planning to replace a car, take a holiday or make some home improvements. If you are already struggling to keep up with other credit commitments because of high interest rates and wanted to consolidate these debts, a rejection for a consolidation loan can feel like a major setback.
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.
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…