The debt-to-income ratio (DTI) is a metric lenders use that compares your total monthly debt payments to your gross monthly income. It measures your ability to manage your existing debt obligations compared to your income. It is also usually a critical factor in determining whether you can borrow more money. Calculating your debt-to-income ratio is […]
Are you struggling to find enough cash each month to make the minimum payments on all your credit card bills? Debt consolidation may be the solution you need. Here are seven reasons why you should consider it. Key points Seven times you should consolidate debt There are plenty of reasons to consider debt consolidation. Here are […]
Dealing with debt can be complicated, particularly if you’re being harassed by debt collectors or have received a court summons. Hiring an attorney can be expensive and scary, and you may not actually need one. 9 signs you may need to hire a debt relief lawyer If you’re considering the options, you probably already have […]
Are you wondering whether debt settlement might be right for you but afraid it will be too expensive? Despite what you may read, debt settlement can be one of the cheapest ways to get out of debt. Why? Let’s take a look. Key points How much do debt settlement companies charge? Debt settlement may sound […]
As consumer debt continues to rise, so does the popularity of debt settlement as an option to solve Americans’ financial problems. U.S. households carried an average of $101,915 in consumer debt in 2022. According to a report by John Dunham & Associates, 1,453,567 accounts were settled by debt settlement companies in 2019, compared to just […]
It’s no secret that many Americans are overwhelmed with credit card debt. If you’re struggling to make your monthly payments, here’s a secret your credit card company doesn’t want you to know — lenders will often lower the total amount that you owe them through a negotiation process. That process is known as debt settlement. […]
You may have heard that all it takes is a simple 11-word phrase that instantly makes debt collectors stop in their tracks. But will that actually work? Probably not. “Please cease and desist all calls and contact with me immediately.” Does this phrase work? You’ll see countless posts online telling you to use this phrase […]
If you are over your head with money struggles, debt consolidation can be a great way to get out of debt and avoid legal action from creditors. It involves combining multiple debts into one, making it easier to manage and pay off. But will it stop a lawsuit? Are you eligible for debt relief? We […]
Have you got a lot of debt? It can be challenging to keep track of payments and balances on outstanding debts between credit cards, student loans, and auto loans. Debt consolidation can be a great way to get your debts under control. But if you’re wondering whether you can keep your credit card accounts open […]
Debt consolidation rolls your unsecured debts into one bigger loan with a lower interest rate. But will it work for you? Before jumping in and applying for loans, it’s essential to consider debt consolidation’s potential benefits and drawbacks. Pros and cons of consolidating your debts Before jumping in and applying for loans, it’s essential to […]