Get Out of Debt
12 articles
When you’re behind on all your bills and fending off daily calls from debt collectors, debt settlement looks tempting. But settling your debts is time-consuming, potentially costly, and can damage your credit score. Before moving ahead with it, consider the alternatives.
Unpaid balances on credit cards can quickly build on themselves. Knowing the factors that contribute to the interest rate you’re paying is key to lowering your rate. Learn how to calculate your credit card interest rate — and why it’s so important to pay off those balances as quickly as you can.
Most Americans know how to pay off debt. You reduce expenses or increase income, then use the extra cash to make bigger payments toward your balances. Learn about three different ways to do this: debt avalanching, debt snowballing, and debt snowflaking.
Personal loans are a popular way to borrow money for a variety of purposes. Personal loans can have terms of five years or longer, and a lot can change in that time, so you may want to refinance to change the loan’s term. Learn how to refinance a personal loan and the pros and cons of doing so.
It’s alarming how easy it is to get in over your head with debt. A debt settlement program can help you escape, but it’s not the right choice for everyone. You have to do the math yourself to decide whether settlement is the best solution to your debt problems.
For many people, credit card debt becomes just another burden they feel they have to bear. They become complacent, continuing to carry balances throughout their working lives, and into retirement. How do you get to the point where credit card debt is just a fact of life? One answer to this question lies in the
How strong is your desire to get out of debt? What are you willing to give up, sell, or live without in order to meet that dream head on? Would you be inclined to sell your beloved car in order to bring your balance sheet back into the black? In many cases, selling your car
Many financial experts report that the average household carries at least $10,000 in credit card debt. In addition to this debt, many people take out upside down car loans and overextend themselves on home purchases. While debt is generally an unfortunate part of life, if you decide to buy a house or car, it shouldn’t be
Everyone knows that credit card debt is “bad” debt due to the high interest rates on most consumer credit cards, while mortgage debt is often described as “good” debt. But sometimes the distinction between “good” and “bad” debt isn’t so clear-cut. In fact, because of this generalization, some people make the decision to refinance their
When it comes to consumer debt, everyone has an opinion. Some people avoid debt at all costs, even if it means never buying a house, while others view debt as a necessary evil – a way to enjoy a certain quality of life. Most Americans fall into the latter category, and all too often, debt
Debt is a common fact of life in America today. According to a 2015 report from the Pew Charitable Trusts, roughly eight out of ten Americans have debts, with an average of $67,900 per person. The report also found that Americans feel conflicted about their debt. Nearly 70% of respondents said they would rather not
Marcus by Goldman Sachs® is a fixed-rate, no-fee, unsecured personal loan provider positioned as a straightforward and potentially lower-cost alternative to credit cards. Its biggest selling point bears repeating: Loans from Marcus by Goldman Sachs® never carry fees, ever. You can borrow up to $40,000 in a single loan from Marcus by Goldman Sachs®, much higher than credit
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