Author: Warren LittleIn the United States, the average amount of credit card debt is nearly $10,000 per household.With an annual interest rate of 14 percent, if you paid only the minimum payment required (two percent), it would take you 36.1 years to pay it all off. If you added just $10 per month to that minimum payment it would cut off nearly 15 years. So how much are you really paying for the items you buy? Can you imagine going into a...more
Author: Gracy BonsuWhen it comes to debts, life becomes a hell. It is not surprising that people are reeling under enormous debts since the financial crises broke few years back. One of the problems with debts is that its negative influence proliferates with the passage of time. That is why people are entering into a debt spiral more than ever. The stark reality, as far as debts are concerned, is that they can ruin ones life. Therefore, it is...more
Author: James MathewsA debt consolidation loan could be the most appropriate way for you to clear your debts, whether the main thing you're looking for is a way to make your payments more manageable, or a way to make sure you have some money set aside each month for unexpected costs.Debt consolidation - how does it work?A debt consolidation loan is a loan designed to repay all your existing unsecured debts in one go - leaving you with just one payment to make each month. This basically means that instead of making several payments to several creditors, you will now make just one payment to one creditor per month until all your debt (plus the interest it has accrued) has been repaid.This isn't the only benefit a debt consolidation loan has to offer. For example, you may be able to lower the amount you are required to pay each month by arranging to spread your repayments out over a longer timeframe. In doing this, though, you may end up paying more interest overall, since your debt would be accruing interest for longer.However, if you choose to consolidate debts with a high APR (Annual Percentage Rate) - from credit/store cards, for example - you may actually be able to save money in...more
There are certain indications which make people realize as to whether a company can really be of any help or is just trying to take out money from the customer’s pocket. If people are aware and puts up effort to first compare and contrast as well as get proper information it would prove to lessen the risk of being taken advantage by a...more
Author: Rodrigo FieldsDue to the exponential growth of consumer debts, most people who have debt often find themselves considering the four most popular ways to get out of debt: debt management, debt consolidation, debt settlement and bankruptcy. Among the four, the last two options are the most frequently used way out of debt problems. Their...more
Author: Eri k stump The current economy status has people everywhere scratching their heads in confusion and fear. It is become a horrific situation for many households that are strapped with major concerns regarding their financial situation. Businesses are downsizing and many are completely shutting the doors, making it extremely difficult for survival of many families. Households are facing pay cuts, job loss and financial debt. With apparent gloom shadowing many families, there is relieve buried in this recession through a variety of means. Many have decided to opt for debt settlement programs which ease the worry of coming up with numerous monthly payments. By opting for one of the many programs available, the monthly payments are reduced to only one, making it easier to plan the household budget on a limited income. The debt settlement programs are applicable for household bills such as a department store credit card, bills pertaining to medical services and/or credit cards, these debts are referred to as unsecured. In order to take advantage of the programs available, the debt amount has to be a minimum of ten-thousand ($10,000) dollars. If a settlement is possible through...more
Credit cards are so common with people today. While some of them do know their limits, some are overwhelmed with the credit limit that is given and tend to use up the entire money. Later, they realize that they have to repay this huge debt on their...more
Author: Matt Couch Many people will argue that stimulus money has recently played an important role in the reinvigoration of the US economy due to increased consumer spending and, in turn, creating employment. Government stimulus packages come in...more
Author: Matt Couch Most American households have some sort of unsecured debt. These debts include and are not limited to major credit cards, department store credit cards, cellular phone bills, and so on. In the current condition the economy is in,...more
Author: anneyshineWith the holiday season coming and the never ending parties make the holidays even more special. Meeting friends and family; having lots of food and drinks. All this is so much fun, but the fun can be over in a second if we fall...more
Author: Matt CouchThe Chief Financial Officer (CFO) has been scrutinizing over the bills and statements going through the business. He is noticing every dime spent and where it is being spent. The largest issue that pops up is the balance on credit...more
Author: Hector MillaYou may be in a situation in which you are having problems paying your bills. You have thought about possible solutions to this problem, and have come up with the idea that debt consolidation might be your best answer. The problem...more