Debt Consolidation or Debt Settlement, Which Should I Choose?
You have a financial problem, and you need to solve it quickly by using either debt consolidation or debt settlement. However, you have no idea what these two financial services do, or what their advantages and disadvantages are. You are confused and need some guidance before taking the next step. This is where we come in. We will present and discuss these two financial services, what service works best and what can negatively affect your finances the most. Make sure to you speak with a financial counsellor before making any decision. Making a wrong move in a situation like this […]
Factors to Consider When Refinancing
Refinancing a loan can get you out of many financial problems as long as you know that it is worth the time and can save you some money in the process. While most of the time it is a service that can help you, there are some situations when refinancing is either redundant or you cannot access it for various reasons. In this article, we will try to present some factors that you may want to consider before refinancing a loan. Note that the best method to get informed regarding these services is by asking a lender or a financial […]
Top Alternatives to Debt Consolidation Loans
Debt consolidation loans are great when your financial situation is not looking so well. Requesting a debt consolidation loan can make your life easier because you will get to have a better control of your finances and debts, to some extent. But is it the safest or the only method of dealing with debts? We will present the top alternatives for debt consolidation loans and discuss whether or not they are worth your time. Details about Debt Consolidation Loans This type of loan is unsecured, and it’s used to pay many unsecured loans. In other words, you use one loan […]
Can I Use Second Chance Loans to Rebuild Credit?
You’ve finally had it with credit providers turning down your loan applications. Before you stress yourself out in thinking how to get out of a financial mess, read on and learn about second chance loans and how it can possibly help you out. Second chance loans explained It is a type of subprime loan for people with bad credit so that they can either rebuild their credit history or finance vehicles while enjoying a favorable loan rate, or both. It usually comes with a fixed interest rate, which you have to pay within the repayment term you have selected. This […]
How to Fix Bad Credit with a Spendthrift Spouse?
How to Fix Bad Credit with a Spendthrift Spouse? Are you seriously considering hiding money from your spouse so he or she can’t spend it or so you can fix your bad credit situation in secret? If so, this article is for you. Sometimes, the “let’s sit down and talk” method won’t work First and foremost, this is not a relationship advice. It focuses on the strategies that we can do to make sure that we won’t go to the “hide my money” thing which can lead to trust issues. Good communication is also an indispensable factor to a successful […]
Debt Consolidation vs Debt Management: What You Ought To Know
Have you tried comparing debt consolidation vs debt management? Each strategy is a tool to financial freedom, but there are things that you need to know before you choose between the two. What is a debt management plan? First and foremost, it is not a loan. It is a plan-where you hire a debt management company to work with your creditors with the purpose of reducing not only the interest rates on your loans but your monthly payment as well. Some companies agree to waive the penalties while others simply reduce them. You will agree to an affordable payment schedule […]
Secured vs Unsecured Loans: Which is Better?
Securing your loans with your home, business equipment, machinery and other costly assets can provide you with a cheaper interest rate than an unsecured loan. But, this discussion on secured vs unsecured loan can show you that there’s more to it than the rates. Secured loan is cheaper than an unsecured one… Applying for a loan and using your home as collateral has its own benefits… Big borrowing. You can borrow a large amount which depends on the security and the type of loan offered. Car loans, mortgage, equipment finance and other types of secured loans has high borrowing limit […]
Consolidating Your Credit Card: Risks and Rewards
If you have an overwhelming credit card debt, you may have considered consolidating your debt to deal with your mounting financial obligations. But, while consolidation for credit cards seems to be an easy way out, it has its own pros and cons. Here are some of the risks and rewards of consolidating credit card: Rewards of credit card consolidation Debt consolidation helps you combine all your unsecured debts into a single payment each month. The loan shall pay off all your existing credit card bills, and in exchange you’ll agree to pay back the loan until you paid it back […]
What is a Judgment? How Can I Remove it from my Credit File?
A judgment is the decision of a court that has become final and executory. It includes default judgments and civil judgments which can be quite harmful to your credit score. Understand “What is a judgment”, why they appear on your credit file, and what you can do to get them off your credit report. Why do judgments appear in my credit file? When creditors or debt collectors sue you for nonpayment of your debt and proved that they have the right to recover a sum of money from you, the court will issue a formal decision, called, “Judgment”. Because a […]
What is a Default? How Do You Get Rid of It?
Understand the real meaning of default, its implications and what you can do to get out of it. If you fail to pay a debt at a time that you’re expected to repay it, you are considered to have defaulted on that particular debt. But, not all late payments can legally qualify as a default. Default defined Default is at least $150 overdue consumer debt that you failed to pay within 60 days and has been listed on your credit report by your credit company or utility providers. But, your credit provider cannot list it without sending you two separate […]