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Dealing with debt in a divorce
Article Written by : Financial Resources 101 Marriage as well as divorce will have consequences on debt. In this article we try to explain impacts of a divorce on certain debt incurred during marriage. Mortgage Mortgage is one debt that many enter into immediately after marriage. Different state laws are making it complicated for many who are facing a divorce and having a mortgage obtained while married.... [Read more]
Utilization of credit and its impact on FICO score
Article Written by : Financial Haze The infamous FICO (Fair Isaac Corporation) score take into consideration several factors including your utilization of credit. It accounts for 30 percent of your FICO score. Debt to limit ratio is key component but not the only aspect they consider. According to three main credit bureaus, Equifax, Experian and TransUnion, who keep track of your credit and generate... [Read more]
Aware of your options before renegotiating a debt
Article Written by : Invisible Insurrection Many of us are burden by heavy debt load. There is not enough income coming in every month to pay down the debt. Extremely high interest rates are making it more difficult for many to make a dent in their unpaid credit card balance. If these situations are similar to what you are facing every day, there are ways to deal with it. One of many available options... [Read more]
Two ways you can deal with non-stop collection calls
Article Written by : Scrumpy Jack When a debt collector starts to call you, there are many ways you can fight those threatening calls. You have immediate family needs that you need to attend and repayment of an overdue or contested debt shouldn’t be top priority over your family survival. So, prioritize all your bills and follow your heart in paying from most important to least important. One way... [Read more]
Chapter 7 bankruptcy works differently from Chapter 13 bankruptcy
Article written by : MLAVA Financial Solutions Chapter 7 bankruptcy requires the debtor to seek discharge of his or her debt in exchange for declaring all his or her assets to an examiner who is an impartial third party and works on behalf of both the debtor and the creditor. Depending on your assets and liabilities as reviewed by the impartial third party, your debt may get discharged allowing you... [Read more]
Balance transfer may help you to get out of debt
Written by: Financial Haze If you are living from paycheck to paycheck and often have to take payday loans, you know how bad the interest is. Some payday loans charges over 400 percent interest per year. There are many ways to get out of debt. One proven way is to transfer your debt to a credit card that offers zero percent interest rate for a period of time. Yes, there is a catch. Most of these cards... [Read more]
Shedding debt to get ahead
Debt consumes many of us. Trying to dig out of a debt hole is not easy and takes time. However, if you plan properly, you can get out of the debt hole sooner than you think. Many adults are burden with credit card and other debt. Young adults coming out of college carry hefty student loans more than ever. Tracking your expenses carefully will help. Goal is to cut your expenses lower than your... [Read more]
How to get out of debt
It is easier to get into debt but takes lot of effort, time and sacrifices to get out of it. Debt can accumulate much faster than one can pay it off. Car loans, credit cards and personal borrowings can add to a heavy debt load. Debt can get you into a vicious cycle and breaking it is up to you. Take a look at the vehicle you are driving. Do you need a big vehicle? If the answer is no, get rid... [Read more]
Inheriting credit card and mortgage debt
Most expect to inherit big chunk of their parent’s assets. But what if your parents are broke and in debt at the time of their death? Who is going to inherit their credit card and mortgage debt? Depending of the type of debt, different rules may apply. Husband and wife having credit cards together, may result in surviving spouse inheriting the debt after the death of the other spouse. In some... [Read more]
Credit card debt you may never want to carry
Recent financial news indicates that more and more Americans are paying down their credit card debt and stay away from new charges. If you are one of them pat yourself on the back. Credit card debt is one of many debts that one should try to avoid at any cost. They carry a higher interest rate. Depending on your financial health, they can carry a hefty interest rate as much as 30 percent. If not... [Read more]
