Debt Consolidation

Lawmakers Harsher on Student Debt Scams

Published: Wednesday, 02 December 2015
Written by Administrator

Amidst the rise of student debt and increasing worries of a national crisis, lawmakers are being harsher on companies that use unlawful tactics to collect from student borrowers.

 Programs that falsely give debt consolidation or reduction borrowers at a large fee have increased, similar to mortgage scams that take advantage of homeowners. In the last few months, ten student debt-relief co. were targeted by lawyers throughout the nation, a lot of the of the companies are looking at legal action for fraud.

The use of these scams show student debt in the U.S. has increased substantially, and already disrupted the financial status of many across the nation.  When citizens can’t repay loans, it is impossible to fulfill the future that was trying to be built when they spent time going to college. 

Close to 43,000,000 students have approximately 1.2 trillion in student debt. Because of the amount of people finding it difficult to repay loans, there have been many companies offering assistance. 

 

Is Debt Consolidation Right for You?

Published: Thursday, 12 March 2015
Written by Administrator

If your debt piles up and you can't make minimum payments every month, you should look to consolidate your debt. The process requires obtaining a debt consolidation loan or credit card that lets you to consolidate your debt to a single bill. You should have lower interest rates, with smaller payments, to avoid getting deeper in debt.

Debt consolidation will combine credit cards to one single balance, with a low interest rate and low payments. 

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Credit Card Mistakes

Published: Thursday, 19 March 2015
Written by Administrator

Buyers and credit cards have a love/hate relationship. Only small pieces of plastic, and the owner’s name, and card number, and a strip of magnet, they play a large role in finance planning. The cards can be great to have when they are utilized properly, or they can be an enemy if used incorrectly.

Something that buyers are guilty of, is lots of them have too many credit cards linked to their names. It makes watching expenses a bit more difficult. It is possible that having a few cards won’t be an issue; however, if buyers see that balances are going up, it should be a warning that they don't need another card.

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Debt snowball vs. debt avalanche: The best way to freeze debt

Published: Friday, 20 February 2015
Written by Administrator

There is a misconception that debts need to be gotten rid of with counseling or debt consolidation training. This could not be more untrue. Credit counseling or debt program might be the plans you'll pick to get rid of your debt, there are other debt consolidation plans you can try. They're easy, free and known to work.

The most commonly talked about debt reducing methods are snowball and avalanche. With the snowball plan, focus on paying off debts one debt at a time, from smallest to largest. With avalanche plan, pay debts off one at a time, beginning with the highest interest.  

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