Debt can be a huge drain on your ability to gain any ground in life. There are many different reasons that people go into debt. Maybe the financial climate has hit you hard or maybe you are simply trying to pay back student loans. No matter the cause, if you are in debt your number one goal should be to eliminate it. However, you might want to tackle your debt differently depending on the type of debt and the circumstances of your unique situation. So where are you in your financial game? Are you coming along well but you feel...
If your creditor has sold your debt to a 3rd party debt collector, you are undoubtedly going to be contacted by phone. Debt collectors can be ruthless in their efforts to secure the money owed to them, continuously calling and using various threats to do so. Some debtors opt to ignore these harassing phone calls, but that is almost never the best course of action to take, even if the calls are aggressive and uncomfortable. What is the best way to deal with phone harassment about my debts? Determine if the Debt is Yours The first thing you have to...
With so many different ways to borrow money, from credit cards to loans, it is very easy to land yourself in debt without even realising it. Reckless spending, living beyond your means or failing to read the small print isn’t wise, so it’s essential to avoid debt that will be difficult to clear. If you have credit cards, loans or any other form of borrowing, you should be keeping a close eye on your finances. If you’re in debt, you need to know that you’re in debt and by how much. So many people with debt problems run away from...
There are many different ways to approach dealing with debt problems. For each person, it will be down to their individual circumstances and the amount they owe which path they choose when working to clear their debts. One option that you hear a lot about is debt consolidation. This is where a number of unsecured debts can be paid off at a stroke by taking out a new, larger loan that will cover all the smaller debts. This is a debt consolidation loan and is one way to manage debt. Benefits of Debt Consolidation Debt consolidation can add clarity to...
The old saying goes that debt has its way of creeping up on us without us really even knowing it and this post will be about how to manage debt. Now a days we are so quick to pull out our credit card or debit card to make a purchase. To manage debt we need to really look close at what we are spending our money on and really track it. It is important to keep debt at reasonable and manageable levels or we could end up incurring high interest rate charges. Even worse having barely enough money to pay...
