Tag: Debt
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Debt Myths You Really Need To Stop Believing
It’s easy to lump all debts together into one composite thing and proclaim them to be ‘bad’ for personal finance. While owing a debt is certainly less appealing than living life totally debt-free, almost no one can truly claim to be completely unencumbered by a financial repayment obligation of some kind. Moreover, not all debts…
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What Really Happens To Your Debt After You Die
According to the Federal Reserve’s Consumer Credit report, approximately 43.5 million Americans were facing $1.7 trillion in student loan debt to begin 2023. That number constituted 13% of the U.S. population, and the average amount owed per student was $37,787. Further, per Federal Student Aid, 92% of that $1.7 trillion was in the form of…
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What You Need To Know Before You Get A Debt Consolidation Loan
Alongside the potential for early repayment, or penalties for this action, it’s important to understand what you’ll be charged if you make a late payment or miss a payment. With a debt consolidation loan, penalties across the board may be stiffer than those associated with your credit card account. Advertisement Of course, no one wants…
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The 8 Best Ways To Consolidate Credit Card Debt
Balance transfers are a great option to use in tandem with other repayment strategies; they are not, however, a cure-all for high credit utilization. Balance transfers simply move debt from one lender to another, effectively bringing debts together into one account and a single corresponding repayment. Advertisement For those with a high credit limit and…