Between car loans, student loans, and credit cards, it is hard to keep up with the balances and payments of your outstanding debts. In the end, when people are unable to handle thousands of dollars worth of debt, they are forced to look at other options instead of trying to make a dent in the ever-growing mountain. And one of these options is debt … [Read more...] about How Consolidating Debt Can Save You Money
Debt
4 Don’ts When Taking a Debt Consolidation Plan
If you have multiple high-interest debts that are challenging to manage, a debt consolidation plan might be the best way out. The plan involves taking a new loan to clear all the previous debts so that you are left with a single loan that is easier to manage. Therefore, all your previous loans have not disappeared but are still there under the new debt consolidation loan. This … [Read more...] about 4 Don’ts When Taking a Debt Consolidation Plan
What is a Personal Loan?
There may be a time in every consumer's life when a personal loan is the best option. There are many reasons a consumer might choose to take out a personal loan. These could include buying a car, financing a wedding, consolidating debts or going on vacation with the family. It is important to fully understand the process before getting into debt. There are many … [Read more...] about What is a Personal Loan?
What is Debt-to-Income Ratio?
Deciding to apply for a loan is easy, especially when you are in dire need of money. But this is not the only thing that banks will look into. Banks and lenders do not approve loans right away. They need documents and proof to find out if you have the capacity to repay the loan. Along with these, the bank or lender will also compute your debt-to-income ratio. Debt-to-Income … [Read more...] about What is Debt-to-Income Ratio?
Are People Getting Addicted to Government Compensation Due to the Pandemic?
As we battle the Coronavirus pandemic, the government has issued stimulus packages to eligible people. By April 2021, the pandemic has affected more than 31 million people, according to an Investopedia report. The US also saw an unemployment rate increase of 14.8% in April 2020. But, the rate fell to 6% in March 2021. Because of the pandemic, many people have lost jobs and … [Read more...] about Are People Getting Addicted to Government Compensation Due to the Pandemic?