Debt Consolidation

Do you have debt with high interest rates? If so, you may want to look into debt consolidation as a way to lower your interest rate and save money in the long run. Be smart about who you choose to work with, because there are some predatory companies that claim to offer debt consolidation loans, and you’ll want to avoid them. The blog posts below can help you learn more about debt consolidation and how to do it properly.

I Took Out a Higher Interest Rate Loan and I’m So Glad I did

About a few months ago, my condo building had a leak that damaged several units including mine. The total damage came out to be over $11,000. Although I had homeowners insurance, the process to file a claim would’ve taken over two months. If you’ve ever experienced anything like this, I’m sure you understand the dire need to get contractors out…

What to Do When Bankruptcy Isn’t the Answer

I remember it like it was yesterday. I was facing over $45,000 in debt. My credit cards were maxed out and I had nowhere to turn. Bankruptcy, or so I thought, was the only real way out. It provided, on one level, a clean slate. I would no longer be shackled to debt and could live freely. It was the…

What Happens If I Don’t Pay My Credit Card Bill?

You’re overwhelmed with expenses and bills this month, and you don’t have enough money to cover the minimum on your credit card bills. What do you do? When you get your monthly statements, you’re thinking of just ignoring some of them this month, but aren’t sure if it’s a good idea. After all, what exactly happens if you don’t pay…

Need Money for Home Repairs? Here’s What to Do

Owning a home is expensive. I know that’s not terribly earth-shattering, but it’s true. There always seems to be something in need of fixing or an upgrade. It’s one of the reasons why I believe many shouldn’t buy a house, rather rent until they’re more financially stable. Most estimate you need to budget at least 1-4% of the value of…

Everything You Need to Know About Debt Settlement

In 2009 I worked for with some of the largest debt settlement companies, many of which are now out of business or shut down by their state’s Attorney General.  Debt settlement services are still rampant across the country.  They give you high expectations that you can cut your monthly payments and debt in half.  For someone who is knee deep…

3 Emotional Side Effects of Debt and How to Handle Them

Credit: Art G.

The tangible results of debt – calls from bill collectors, denial of loans, a growing stack of past due bills – may seem like the worst part of this ever-growing financial problem. But the reality is, these events would mean little if, underneath the surface, you weren’t dealing with the intense emotional effects of the issue. Being financially indebted to…

5 Reasons To Reevaluate Your New Year’s Financial Resolutions

Credit: Miquel Angel Pintanel Bassets

Dreaming is undeniably easier than doing. So when we sit down to make resolutions at the first of the year, it’s easy to be blinded by the excitement of possibility without much thought of the actions we’ll take to turn those dreams into reality. Then enters the guilt. Guilt that we failed so quickly, guilt that we don’t actually know…

Does Debt Consolidation Help or Hurt Your Credit?

If you’re struggling to make the minimum payments on your debt, missing due dates and not making any substantial headway in the process, you’re credit score likely already mirrors your situation. After all, these three numbers are supposed to be the quickest snapshot of your financial health and ability to repay creditors. Debt consolidation may be an option you’re considering…

3 Questions to Ask Yourself Before Pursuing Debt Consolidation

Bills can spur a great deal of anxiety – especially when they represent a seemingly insurmountable pile of debt. If you’re struggling to make payments to multiple creditors at various amounts on different dates throughout the month, you’re likely feeling the pressure. Debt consolidation and the promise of wrapping each debt into one predictable monthly payment might seem like the…